HD Hyundai is moving faster on overseas shipyard expansion as global competition in shipbuilding intensifies. The group is pursuing new production capacity in India and broader investment plans in Vietnam while keeping its domestic operations focused on higher-value ship segments.
According to industry sources, Chairman Chung Ki-sun is set to join President Lee Jae-myung’s visits to India and Vietnam as part of an economic delegation through 24 April. During the trip, HD Hyundai is expected to strengthen cooperation with both countries and discuss additional plans linked to its overseas production base strategy.
India is drawing the most attention. A follow-up agreement related to a new shipyard project is expected as HD Hyundai continues detailed talks with Tamil Nadu after signing a memorandum of understanding late last year. Local observers have said the investment could reach as much as $4.0 billion. The company is also in talks with Cochin Shipyard, India’s largest state-run shipbuilder, on a joint venture for ship block production.
The move reflects HD Hyundai’s effort to build a stronger position in a market seen as a future source of large-scale ship orders alongside the United States. India has already set out its Maritime Amrit Kaal Vision 2047, which aims to place the country among the world’s top five shipbuilding nations within 20 years. Under that plan, 275 vessels have already been committed by 2036, with more than 1,000 additional ships expected to be secured afterward at a faster pace.
Through shipyard construction and technology cooperation, HD Hyundai is seeking to secure both local demand and export volumes in India. At the same time, the group is expected to pursue further investment plans in Vietnam. In South Korea, it plans to concentrate more on high-value vessels such as special-purpose ships and eco-friendly vessels, which it views as future growth drivers.
