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HD Hyundai Heavy Industries

HD Hyundai Heavy Industries Co., Ltd.
Native name
에이치디현대중공업 주식회사
Formerly
  • Hyundai Heavy Industries (2019–2023)
Company typePublic
KRX: 329180
Industry
Founded23 March 1972; 53 years ago (1972-03-23) (Hyundai Shipbuilding Heavy Industries)
2019; 6 years ago (2019) (Hyundai Heavy Industries)
Founder
Headquarters1000, Bangeojinsunhwando-ro, Dong-gu,
Ulsan
,
South Korea
Area served
Worldwide
Key people
RevenueIncrease ₩14.4865 trillion (2024)
Increase ₩705.2 billion (2024)
Increase ₩621.5 billion (2024)
Total assetsIncrease ₩19.3909 trillion (2024)
Total equityIncrease ₩5.7044 trillion (2024)
Owner
Number of employees
15,000 (2025)
ParentHD Korea Shipbuilding & Offshore Engineering
WebsiteOfficial website in English
Official website in Korean
Footnotes / references
[1][2]

HD Hyundai Heavy Industries Co., Ltd. (HHI; Korean: HD현대중공업; RR: Eichidi Hyeondae Junggongeop) is the world's largest shipbuilding company and a major heavy equipment manufacturer.[3][4] Its headquarters are in Ulsan, South Korea.

History

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HHI shipyard and cranes in Ulsan
HD Hyundai Heavy Industries
Hangul
에이치디현대중공업
Hanja
에이치디現代重工業
Revised RomanizationEichidi Hyeondae Junggongeop
McCune–ReischauerEich'idi Hyŏndae Chunggongŏp

HHI was founded in 1972 by Chung Ju-yung as a division of the Hyundai Group, and in 1974, completed building its first ships.[5] In 2002, the company was spun-off from its parent company.[6] HHI has four core business divisions: Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, and Engine & Machinery. HHI also has five non-core related subsidiaries: Hyundai Electric & Energy Systems, Hyundai Construction Equipment, Hyundai Robotics, Hyundai Heavy Industries Green Energy, and Hyundai Global Service.[7]

The Hyundai Group started as a small South Korean construction firm in 1947, headed by its founder, Korean entrepreneur Chung Ju-yung.[8] Another widely known and closely related Korean company, the Hyundai Motor Company, was founded in 1967, five years prior to the founding of the Heavy Industry Group. The motor company was also founded by Chung. The company has a partnership with Capital Product Partners to create four specialized ships with equipment for ocean-based carbon capture and storage to be delivered in 2025 and 2026 and at a cost of $300 million.[9]

The name is an informal romanisation of the Korean 현대 (hyeondae) meaning "contemporary" or "modern", which was Chung's vision for the group of companies that he founded.

On 11 July 2024, Hyundai Heavy Industries became the first Korean shipbuilder to sign a master ship repair agreement (MSRA) with Naval Supply Systems Command (NAVSUP), qualifying to participate in the U.S. Navy's MRO business.[10]

The company built the launch pad system for South Korea's rocket Naro-1 (KSLV-I) in 2013. It later manufactured the Nuri (KSLV-II) launch pad.[11]

Products

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Shipbuilding

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  • Crude oil tankers (Very Large Crude Carriers)
  • Shipping container carrier ships
  • Shipping exclusive container carrier cranes
  • Oil and natural gas drilling ships
  • Liquified natural gas carrier ships
  • Liquified Petroleum Gas Carriers (LPG) including Very Large Gas Carriers (VLGC)

Offshore and industrial plant engineering

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  • Offshore oil and gas rig engineering and construction
  • Oil and gas storage and delivery vessel construction (FPSO)
  • Heavylift ship barge and ship transport vessels (Semi-submersible) building
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  • Destroyer
  • Frigate
  • Corvette
  • Patrol vessel
  • Auxiliary vessel
  • Attack submarine

Engine and machinery

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  • Marine Engine & Machinery
  • Engine Power Plants

Aerospace

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  • Rocket launch pad

Corporate governance

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As of 2025[1]

Shareholder Stake (%) Country
HD Korea Shipbuilding & Offshore Engineering 74.86%
National Pension Service 6.38%

Criticism and controversies

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HD Hyundai was alleged by a June 2025 UN expert's report to have provided heavy machinery that has been used to destroy property in the occupied Palestinian territories.[12][13] Amnesty International Korea documented the use of HD Hyundai machinery during the demolitions of Palestinian homes and property in the occupied West Bank.[14]

[edit]
  • A HHI LNG carrier
    A HHI LNG carrier
  • A HHI drillship
    A HHI drillship
  • A HHI FPSO
    A HHI FPSO
  • A HHI naval vessel
    A HHI naval vessel
  • A HHI submarine
    A HHI submarine
  • KSLV-II lanuch pad
    KSLV-II lanuch pad

See also

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References

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  1. ^ a b "HD HYUNDAI HEAVY INDUSTRIES 329180". FnGuide. December 2024. Archived from the original on 29 April 2025. Retrieved 29 April 2025.
  2. ^ "About HHI > At a Glance - HD Hyundai Heavy Industries". Archived from the original on 1 August 2023. Retrieved 5 November 2017.
  3. ^ "Bloomberg.com". 19 January 2009. Retrieved 19 January 2009.
  4. ^ "HHI Constructs World's Best Ship for 26 Years Straight". Archived from the original on 15 July 2012. Retrieved 18 November 2008.
  5. ^ Steers, Richard (1999). Made in Korea: Chung Ju Yung and the Rise of Hyundai. Routledge. p. 96. ISBN 978-0-415-92050-6.
  6. ^ "Welcome to Hyundai Heavy Industries". english.hhi.co.kr. Archived from the original on 1 August 2023. Retrieved 22 September 2022.
  7. ^ Hyundai Heavy Industries Spins Off into Six Separate Companies Marine Insight News. 18 November 2016. Downloaded 3 November 2017.
  8. ^ "The last emperor". The Economist. 4 February 1999. Retrieved 11 January 2012.
  9. ^ Paris, Costas (31 January 2024). "A New Solution for CO2 Emissions: Bury Them at Sea". The Wall Street Journal. News Corp. Retrieved 31 January 2024.
  10. ^ "HD현대重, 국내 최초 美 함정 MRO 사업 참여 자격 획득". HD Hyundai Heavy Industries. 12 July 2024. Archived from the original on 5 October 2024. Retrieved 5 October 2024.
  11. ^ "HD현대중공업, 누리호 '발사대 시스템' 만들었다". Kyunghyang Shinmun (in Korean). 26 March 2023.
  12. ^ Farge, Emma (1 July 2025). "'Lucrative' business deals help sustain Israel's Gaza campaign, UN expert says". Reuters. Retrieved 1 July 2025.
  13. ^ "Report of the Special Rapporteur on the situation of human rights in the Palestinian territories occupied since 1967 (Advance edited version)". OHCHR. 16 June 2025. Retrieved 8 July 2025.
  14. ^ "South Korea/Israel/OPT: HD Hyundai machinery used in West Bank demolitions". Amnesty International. 27 March 2025.
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Wikimedia Commons has media related to Hyundai Heavy Industries.
  • Official website
  • Business data for HD Hyundai Heavy Industries:

35°31.00′N 129°26.49′E / 35.51667°N 129.44150°E / 35.51667; 129.44150