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Hyundai Heavy Industries Co., Ltd. history, profile and history video

Hyundai Heavy Industries Co., Ltd. engages in the manufacture and sale of steel ships. Its operations are carried out through the following divisions: Shipbuilding, Offshore and Engineering, Industrial Plant and Engineering, Engine and Machinery, Electro Electric Systems, Green Energy, and Construction Equipment. The Shipbuilding division’s main products involve VLCCs, tankers, product carriers, chemical tankers, containerships, bulk carriers, OBO carriers, ro-pax ships, ro-ro ships, pure car carriers, LNG carriers, LPG carriers, submarines, destroyers, and frigates. The Offshore and Engineering division has floating units, mixed platforms, pipelines and subsea facilities, and offshore installations. Its Industrial Plant and Engineering division offers combined cycle power plant, thermal power plant, oil and gas processing plant, LNG plant, refinery plant, petrochecmical plant, process equipment, nuclear component, boiler, and HRSG. The Engine and Machinery division provides machine engine equipment, industrial machinery, power plant, and robot system. Its Electro Electric System offers transformers, GIS, switchgear, low and medium voltage circuit breakers, power electronics, rotating machinery, integrated control, and monitoring systems. The company Green Energy division has solar power system and wind turbine system. Its Construction Equipment division offers excavators, wheel loaders, backhoe loaders, forklift trucks, and skid steer loaders. The company was founded by Ju-Yung Chung on December 28, 1973 and is headquartered in Ulsan, South Korea.

“Hyundai Heavy Industries History

Chung Ju-yung, the late founder of the Hyundai Group, created Hyundai as a construction company in 1947. Chung decided to enter into shipbuilding in the early 1970s ignoring that Hyundai had no experience, capital, or shipbuilding technology whatsoever. Despite these challenges, the company received orders for two 260,000-DWT crude oil tankers from Greek magnate George Livanos while Hyundai’s Shipyard was still in the planning stages.

In March 1972, ground was broken on an empty stretch of beach in Ulsan to construct what would become the world’s largest shipyard. Hyundai then started building the two oil tankers and the shipyard simultaneously. Two years later, in 1974, Hyundai held a ceremony to simultaneously name the two tankers and dedicate the shipyard.”

*Information from Forbes.com and Hhi.co.kr

**Video published on YouTube by “HHIEurope