| HD Hyundai Heavy Industries Co., Ltd. | |
| Native Name: | 에이치디현대중공업 주식회사 |
| Native Name Lang: | ko |
| Type: | Public |
| Founded: | Ex-HHI (now KSOE): new HHI: |
| Hq Location: | 1000, Bangeojinsunhwando-ro, Dong-gu |
| Hq Location City: | Ulsan |
| Hq Location Country: | South Korea |
| Area Served: | Worldwide |
| Revenue: | [1] |
| Revenue Year: | 2022 |
| Income Year: | 2022 |
| Net Income Year: | 2022 |
| Assets Year: | 2022 |
| Equity Year: | 2022 |
| Num Employees: | 14,000 (2024)[2] |
| Parent: | HD Korea Shipbuilding & Offshore Engineering |
| Website: | Official website in English Official website in Korean |
HD Hyundai Heavy Industries Co., Ltd. (HHI;) is the world's largest shipbuilding company and a major heavy equipment manufacturer.[3] [4] Its headquarters are in Ulsan, South Korea.
| Hangul: | 에이치디 |
| Rr: | Eichidi Hyeondae Junggongeop |
| Mr: | Eich'idi Hyŏndae Chunggongŏp |
HHI was founded in 1972 by Chung Ju-yung as a division of the Hyundai Group, and in 1974, completed building its first ships.[5] In 2002, the company was spun-off from its parent company.[6] HHI has four core business divisions: Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, and Engine & Machinery. HHI also has five non-core related subsidiaries: Hyundai Electric & Energy Systems, Hyundai Construction Equipment, Hyundai Robotics, Hyundai Heavy Industries Green Energy, and Hyundai Global Service.[7]
The Hyundai Group started as a small South Korean construction firm in 1947, headed by its founder, Korean entrepreneur Chung Ju-yung.[8] Another widely known and closely related Korean company, the Hyundai Motor Company, was founded in 1967, five years prior to the founding of the Heavy Industry Group. The motor company was also founded by Chung. The company has a partnership with Capital Product Partners to create four specialized ships with equipment for ocean-based carbon capture and storage to be delivered in 2025 and 2026 and at a cost of $300 million.[9]
The name is an informal romanisation of the Korean ko|[[wikt:현대|현대]]|label=none (hyeondae) meaning "contemporary" or "modern", which was Chung's vision for the group of companies that he founded.
On 11 July 2024, Hyundai Heavy Industries became the first Korean shipbuilder to sign a master ship repair agreement (MSRA) with Naval Supply Systems Command (NAVSUP), qualifying to participate in the U.S. Navy's MRO business.[10]
Hyundai Heavy Industries is named in the 2024 'Don't buy into occupation' rapport due their activity in Israel and the use of their equipment in illegal Israeli settlements on the West Bank that are in violation with international law:
"Over the years, Who Profits has repeatedly documented the use of HHI equipment during demolitions of Palestinian homes and property in East Jerusalem and the rest of the Occupied Palestinian Territories. Moreover, Al-Haq documented that Hyundai excavators were used in construction works in settlements and associated industrial zones. Al-Haq also reported the use of HHI excavators in the demolition of a water collection well in the Hebron area in March 2021. In February 2022, a HHI bulldozer was reportedly used in the demolishing of the home and water well of a Palestinian family in Khallet Al-Mai.
HHI’s activities are of concern as they are linked to the supply of equipment and materials facilitating the construction and the expansion of settlements and the wall, and associated infrastructures, as well as for the demolition of housing and property of Palestinians." [11]