[Asia Economy Reporter Choi Dae-yeol] Hanjin Heavy Industries changed its name to HJ Heavy Industries on the 22nd. This move comes as the trademark usage period of the previous name expired and the major shareholder changed, aiming to establish a global brand image.
The company announced that at the extraordinary general meeting held that day, it approved the amendment to the articles of incorporation reflecting the name change. The English name is HJSC (HJ Shipbuilding & Construction Co., Ltd.). After the major shareholder changed to the Dongbu Construction consortium at the end of August, the company has been pursuing management normalization by establishing a new management team and actively engaging in ship order sales. This name change was also decided as part of a fresh start and a leap forward as a comprehensive heavy industry company.
In October, after an internal contest for a new company name among employees, HJ Heavy Industries received the most support. The company expects that HJ, reminiscent of the previous name Hanjin Heavy Industries, will convey legitimacy while symbolizing a new beginning. Additionally, it contains the hidden meaning of The Highest Journey. Founded in 1937 as the predecessor Chosun Heavy Industries, recognized as Korea’s first shipyard, the company holds the history of the domestic shipbuilding industry, having built the first export ship and operated overseas repair shipyards. The company also unveiled a new CI representing its corporate image. The symbol design of the new CI is inspired by the four trigrams (Geon, Gon, Gam, Ri) of the Korean flag (Taegeukgi).
With this name change, the company has adopted a new name for the first time in 32 years since Hanjin Group acquired Daehan Shipbuilding Corporation in 1989 and used the current name. While focusing on early management normalization and discovering new growth engines, the company also reorganized its two main divisions: construction and shipbuilding. Following the September contract for the National Incheon Maritime Museum and metropolitan area maintenance projects, the shipbuilding division secured orders for hybrid national fishery patrol vessels and container ships consecutively.
Hong Moon-gi, CEO of HJ Heavy Industries, said, "This will be an opportunity for the company to reestablish its status as a comprehensive heavy industry enterprise and to leap forward as a sustainable ESG (environment, social, governance) company after the acquisition. We will be armed with determination befitting this new start to meet the expectations of the nation, local economy, and shareholders."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
