Hyundai Heavy Industries

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Hyundai Heavy Industries Co, Ltd.

logo
legal form Corporation
ISIN KR7009540006
founding 1972
Seat Ulsan , South Korea
management
  • Min Keh-sik, Chairman and CEO
  • Lee Jai-seong, President and CEO
Number of employees 26,000 (2011)
sales 46.6 trillion won (2011)
Branch shipbuilding
Website english.hhi.co.kr (English)

Model of the shipyard site
LNG Rivers, completed by Hyundai in 2002

The Hyundai Heavy Industries Co, Ltd. is a South Korean company with headquarters in Ulsan , South Korea .

The company is represented in the top ten of the KOSPI share index . It was founded by Chung Ju-yung in 1972 after persuading Greek ship owners to order ships, even though Chung did not yet own a shipyard. With the orders from Greece, he persuaded bankers from London to give him capital to build shipyards. Today it is one of the largest shipyards in the world.

The shipyard manufactures tankers , bulk carriers , container ships as well as gas and chemical tankers . I.a. the container ships of the Hamburg Express class (2012) are built here on behalf of Hapag-Lloyd .

Hyundai Heavy Industries is a subsidiary of the Hyundai Heavy Industries Group. In 2002 the group became independent from the Hyundai Group . Around ten percent of the shares are held by Chung Mong-joon , another ten percent belong to Hyundai Mipo Dockyard Corp. (even a 40 percent subsidiary of the HHI subsidiary Hyundai Samho), just under three percent of the Hyundai Motor Company. Another major shareholder with around eight percent is the chemical company KCC Corporation, which also produces auto parts (as of fiscal 2006). In January 2010, Hyundai Corporation became a subsidiary of Hyundai Heavy Industries.

Due to declining orders, the shipyard had to lay off around 10 percent of its more than 25,000 employees in 2016 and sell around one billion US dollars in assets.

On January 31, 2019, it was announced that Hyundai Heavy Industries would complete an acquisition of the second largest shipbuilding company, Daewoo Shipbuilding & Marine Engineering . You would take over the shares of the state-owned Korea Development Bank .

Web links

Individual evidence

  1. Sakong Il, Youngsun Koh: The Korean Economy . Six Decades of Growth and Development. 2010, p. 108-109 ( online ). online ( Memento of the original from July 5, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot / cid.kdi.re.kr
  2. Stockholder ( Memento of the original from June 23, 2008 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. on the company website  @1@ 2Template: Webachiv / IABot / www.hhiir.com
  3. ^ History on the Hyundai Corporation website. Retrieved April 22, 2014.
  4. Choi Hyun-mook: Top 2 Shipbuilders to Merge. In: Chosun Ilbo . February 1, 2019, accessed February 1, 2019 .
  5. Worldwide leading shipyards join forces. Hyundai Heavy Industries intends to take over number two Daewoo for 1.65 billion euros. With that they would dominate a fifth of the world market. In: Handelsblatt . January 31, 2019, accessed February 1, 2019 .