South Korea’s three largest shipbuilders are forecast to post 9.04 trillion won in annual operating profit, with LNG carriers and higher shipyard productivity supporting further gains.
Union Maritime has been linked to two VLGC/VLAC newbuildings at HD Hyundai Heavy Industries, with delivery expected in 2029 and a reported value of about $234 million.
The planned sale of K Shipbuilding has failed after Taekwang Industrial could not agree on terms with the yard’s current investors.
South Korea launches a national council to connect shipbuilding and shipping, with LNG cooperation and AI autonomous vessel plans.
HD Hyundai Heavy Industries has agreed to sell the Gunsan shipyard, with the final price to be decided after due diligence and further negotiations among the parties.
Shipowners are skipping or rescheduling ship-naming ceremonies at South Korean shipyards as the United States-Iran war disrupts vessel operations, flight schedules and event attendance linked to the Middle East.
HJ Shipbuilding and Construction lifted 2025 operating profit to KRW67 billion as shipbuilding recovered and an eco-friendly, high-value order strategy improved profitability alongside higher revenue.
Daesun Shipbuilding completed the sale of its Yeongdo yard in Busan to Hanla IMS on 26 December 2025 for KRW 107.2 billion, consolidating operations at Dadaepo.
South Korea’s major shipyards in Geoje and Ulsan face severe labour shortages amid a surge in new orders, pushing builders to hire more foreign workers and triggering local backlash over visa quotas and jobs.
