HD Hyundai Group has confirmed a new order for one LNG carrier from “Asian shipowners”, with HD KSOE reporting that the deal lifts the group to 91.5% of its $18.05 billion annual order goal.
Over five decades, HD Hyundai expanded from its early Ulsan shipyard to become a globally recognized shipbuilder. The company’s production progress, naval and commercial ship programs, and worldwide customer network culminated in its recent 5,000-ship delivery milestone.
U.S. naval operations chief Adm. Daryl Caudle met with HD Hyundai and Hanwha Ocean executives during visits to Ulsan and Geoje shipyards, where both companies outlined cooperation plans linked to the MASGA initiative and U.S. naval programs.
HD Hyundai Heavy Industries has formalized an agreement with Cochin Shipyard Limited to organize a joint approach for the Indian Navy’s landing platform dock program, aligning the two shipyards’ roles with India’s ongoing defense modernization priorities.
HD Hyundai Heavy Industries signed a letter of intent with Peru’s SIMA to co-develop submarines for the Peruvian Navy, with a final agreement expected within this year and construction planned at the Ulsan shipyard.
Samsung Heavy Industries joined Korea’s $150 billion MASGA initiative with a partnership with DSEC, marking the Big Three’s united entry into U.S. shipbuilding cooperation.
HD Hyundai and Siemens signed an MoU at APEC 2025 to digitalize U.S. shipyards, while Hanwha Ocean discussed submarine cooperation with the Philippines.
Korea’s major shipbuilders posted strong Q3 2025 earnings, but rising container ship orders and Chinese price competition have raised profitability concerns.
HD Hyundai has appointed Chung Ki-sun as its new Chairman, signaling the start of a third-generation leadership era at the global industrial group.
