HD Hyundai Heavy Industries explained

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:12,800 (2023)[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.

History

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 Korean: [[wikt:현대|현대]]|label=none (hyeondae) meaning "contemporary" or "modern", which was Chung's vision for the group of companies that he founded.

Products

Shipbuilding

Offshore & Industrial Plant Engineering

Naval & Special Ships

Engine & Machinery

See also

External links

35.5167°N 155.49°W

Notes and References

  1. Web site: HD HYUNDAI HEAVY INDUSTRIES 329180. FnGuide. 2022. https://web.archive.org/web/20240126212604/https://comp.fnguide.com/SVO3/ASP/SVD_Main.asp?gicode=A329180. 26 January 2024. 26 January 2024.
  2. https://english.hhi.co.kr/about/glance About HHI > At a Glance - HD Hyundai Heavy Industries
  3. News: Bloomberg.com . 2009-01-19 . 2009-01-19.
  4. Web site: HHI Constructs World's Best Ship for 26 Years Straight . https://archive.today/20120715060828/http://news.mk.co.kr/outside/view.php?year=2008&no=703877 . dead . 2012-07-15 . 2008-11-18 .
  5. Book: Made in Korea: Chung Ju Yung and the Rise of Hyundai. Richard . Steers . Routledge. 1999. 978-0-415-92050-6. 96 .
  6. Web site: Welcome to Hyundai Heavy Industries . 2022-09-22 . english.hhi.co.kr.
  7. https://www.marineinsight.com/shipping-news/hyundai-heavy-industries-spins-off-six-separate-companies/amp/ Hyundai Heavy Industries Spins Off into Six Separate Companies
  8. News: The last emperor. 11 January 2012. The Economist. 4 February 1999.
  9. News: Paris. Costas. January 31, 2024. A New Solution for CO2 Emissions: Bury Them at Sea. The Wall Street Journal. News Corp. January 31, 2024.