South Korea's HD Hyundai Heavy Industries and Peru's SIMA launched the BAP Chimbote landing support vessel for the Peruvian Navy, attended by President Keiko Fujimori.
South Korean labor unions are escalating demands for profit-sharing and bonuses across various industries, following Samsung Electronics' concession of over $400,000 bonuses to some employees. Strikes and demands for significant operating profit allocations are spreading from chipmakers to automotive, heavy industries, telecom, and tech sectors, highlighting investor risks.
Hanwha Ocean has reportedly secured the contract for the detailed design and lead ship construction of South Korea's next-generation destroyer (KDDX), narrowly outperforming HD Hyundai Heavy Industries. A security penalty against HD Hyundai Heavy Industries was a key factor in the decision.
HD Hyundai Heavy Industries' labor and management held their first meeting for wage and collective agreement negotiations for the year. The union is demanding a 149,600 won increase in basic pay, a 100% increase in bonuses, and a 30% profit share. The implementation of the 'Yellow Envelope Act' may also influence negotiations.
HD Hyundai Heavy Industries has become the first South Korean company to secure research projects from the U.S. Office of Naval Research. The shipbuilder will conduct two AI-focused projects: one for real-time survivability prediction of naval ships in volatile maritime conditions, and another for advanced manufacturing technologies to improve shipbuilding productivity.
SEOUL, April 22 (Yonhap) -- HD Hyundai Heavy Industries, South Korea's leading s...
HD Hyundai Heavy Industries secured a US$350 million contract to build an icebreaker for the Swedish Maritime Administration, beating Finnish and Norwegian rivals. The vessel, delivery in 2029, will support icebreaking operations in the Baltic Sea, marking the first export of a dedicated icebreaker by a South Korean shipbuilder. The deal comes amid growing global demand and US legislation approving $9 billion in related funding.
