HD Hyundai Chairman Chung Ki-sun plans to meet TerraPower founder Bill Gates in Seoul to discuss deepening cooperation in small modular reactors and the Natrium fast reactor project.
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.
Prosecutors indicted HD Hyundai Oilbank and two officials for alleged price-fixing totaling $17 billion, following the U.S.-Iran war. The company is accused of colluding with SK Energy to raise petroleum prices, with GS Caltex and S-Oil following suit, undermining market competition.
Prosecutors indicted HD Hyundai Oilbank and two officials for alleged price-fixing worth $17 billion, colluding to raise petroleum product prices after the U.S.-Iran war. SK Energy was not indicted due to a leniency program, while GS Caltex and S-Oil followed the rigged hikes.
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 has signed an MOU with Ukraine's Mykolaiv regional government to establish a mid- to long-term cooperation system for reconstruction. The agreement expands on previous collaborations, including equipment supply, local training centers, service support, financial aid, and energy infrastructure restoration.
President Lee Jae Myung visited HD Hyundai Heavy Industries, pledged government support to maintain global competitiveness in shipbuilding, and praised workers' dedication.
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.
HD Hyundai signs MOU with Indian government-backed entities NSHIP TN and Sagarmala Finance Corporation to establish a joint venture shipbuilding company in India. HD Hyundai will be the largest shareholder, overseeing operations of a digital-focused shipyard. The partnership was signed during bilateral summit between President Lee Jae Myung and PM Narendra Modi in New Delhi.
