HD Hyundai Heavy Industries is a comprehensive heavy industry company that has been a driving force in the global market for decades. Founded in 1972, it has grown to become one of the world's largest shipbuilders.
The company's portfolio is vast, covering shipbuilding, offshore plants, and industrial plants. They design and manufacture a wide range of vessels, including container ships, tankers, and cruise ships. Their expertise extends to offshore platforms, power plants, and industrial equipment.
HD Hyundai Heavy Industries has a strong presence in the global market, with a significant share of the world's shipbuilding market. They have delivered over 1,500 vessels to customers worldwide, including some of the largest ships in the world.
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History of HHI
HHI was founded in 1972 by Chung Ju-yung as a division of the Hyundai Group.
The company started as a small South Korean construction firm in 1947, headed by its founder Chung Ju-yung.
HHI's name is an informal romanisation of the Korean word "hyeondae", meaning "contemporary" or "modern", which was Chung's vision for the group of companies that he founded.
Early Years
Hyundai Heavy Industries (HHI) was founded in 1972 by Chung Ju-yung as a division of the Hyundai Group.
The company started as a small South Korean construction firm in 1947, headed by its founder, Korean entrepreneur Chung Ju-yung.
Chung's vision for the group of companies he founded was to make them "contemporary" or "modern", which is reflected in the name Hyundai, an informal romanisation of the Korean word "hyeondae".
The Hyundai Group has a long history of innovation, with the Hyundai Motor Company being founded in 1967, five years prior to the founding of the Heavy Industry Group.
The Hyundai Motor Company was also founded by Chung, showing his commitment to expanding the Hyundai Group into various industries.
Milestones and Achievements
HHI has been a leading player in the global shipbuilding industry for over a century, with a rich history that spans across various milestones and achievements.
In 1945, HHI was re-established as a private company after the Korean War, marking a significant turning point in the company's history.
HHI's first shipbuilding order was received in 1955, which was a 2,000-ton cargo ship.
The company's first passenger ship, the SS Korea, was launched in 1960.
HHI's first liquefied natural gas (LNG) carrier, the Gullfaks C, was completed in 1984.
In 1996, HHI delivered its first very large crude carrier (VLCC), the Hyundai Progress.
HHI's first nuclear-powered ship, the Shin Kori 1, was completed in 2010.
The company's first wind turbine installation vessel, the Hyundai Dream, was delivered in 2011.
Company Structure
HD Hyundai Heavy Industries has a diverse range of business divisions, including Shipbuilding, Offshore & Engineering, and Industrial Plant & Engineering.
The company's shipbuilding division is a major player in the global shipbuilding market, with a strong presence in Korea and abroad.
HD Hyundai's Offshore & Engineering division provides engineering, procurement, and construction (EPC) services for offshore plants and infrastructure projects.
Their Industrial Plant & Engineering division focuses on designing and building industrial facilities, including power plants and petrochemical complexes.
The company has a global network of subsidiaries and affiliates, with operations in over 20 countries worldwide.
HD Hyundai Heavy Industries is a leading player in the global shipbuilding industry, with a rich history dating back to 1972.
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Shipbuilding Division
HD Hyundai Heavy Industries' Shipbuilding Division is the world's largest shipbuilding company, with a presence in South Korea. It has been the core business of the company since 1983.
With state-of-the-art facilities, including ten large construction drydocks and nine colossal Goliath cranes, the division has delivered over 2,300 vessels to shipowners across 51 countries. These vessels include LNG and LPG carriers, oil tankers, and container ships.
The division has the ability to customize ships according to different needs, and continues to develop new shipbuilding technologies with its large research staff. It produces a wide range of ships, including oil tankers, chemical tankers, bulk carriers, and container ships.
In 2005, the shipbuilding division implemented a new 3D computer-aided design (CAD) solution, but it was not connected to the division's enterprise resource planning (ERP) system. This caused security problems and duplicate work.
The division has since implemented a PLM system, which has improved design and work efficiency by automatically managing changes to designs and schedules. This system also routes work to the relevant departments, eliminating omissions that previously might have caused extra work.
The division's naval and specialized ship business boasts a specialized team, work environment equipped with the latest facilities, and advanced technologies necessary for business. It independently designs and builds cutting-edge Aegis destroyers and multi-purpose frigates for the Republic of Korea Navy.
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Products and Services
At HD Hyundai Heavy Industries, they're a major player in the global market for large ship engines, holding around 35% of the market share. Their expertise spans over a century, with a legacy of innovation and quality.
Their engine and machinery business is particularly notable for producing high-quality, environmentally friendly dual-fuel engines for ships. These engines run on LNG and methanol, making them a more sustainable option for the maritime industry.
The company's proprietary HiMSEN engine and propulsion systems are delivered to diverse regions worldwide, a testament to their global reach and reputation.
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Global Presence and Partnerships
HD Hyundai Heavy Industries is a company that knows the value of partnerships. They've signed a Memorandum of Understanding with HII to advance technological innovation and strengthen the global defense industry.
This strategic partnership aims to leverage the combined expertise and resources of both companies. The MOU specifically targets increasing the collective maritime industrial base strength of both the U.S. and South Korea.
The partnership marks a new milestone for both HD Hyundai Heavy Industries and HII, providing a unique opportunity to expand their expertise in shipbuilding.
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Frequently Asked Questions
What does HD stand for in HD Hyundai?
HD in HD Hyundai stands for Human Dynamics, reflecting the company's shift towards investment and growth engines beyond traditional manufacturing.
Who is the founder of HHI?
HHI was founded by Chung Ju-yung in 1972. He is the visionary behind the company's growth and success.
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