HJ Junggong, Which Achieved Record-Breaking 'Daebak', Secures 4.7 Trillion Won Orders Last Year

Highest Ever Since Establishment, Order Backlog Surpasses 9.3 Trillion Won

HJ Heavy Industries has achieved the highest order volume in its history since its founding. The company is consecutively filling its order book in its two major businesses: shipbuilding and construction.

In the shipbuilding sector, it recorded orders worth 1.75 trillion KRW, showing a 150% increase compared to 2022 and a 300% increase compared to 2023. In the construction sector, it secured orders worth 1.3 trillion KRW in public construction projects, 800 billion KRW in urban redevelopment projects, and 840 billion KRW in other private and overseas construction projects.

In the traditionally technology-recognized special ship business, the MRO business capabilities continue to deliver good news. The company secured the performance improvement project for 18 Navy guided missile fast attack crafts, and the overhaul projects for the large transport ship Dokdo and the high-speed landing craft (LSF-II), strengthening its position in the MRO market. Additionally, it achieved orders worth a total of 550.4 billion KRW, including the construction of one 3,000-ton coast guard patrol ship and four new high-speed patrol boats.

The merchant ship business is also gaining momentum. As a result of focusing on developing eco-friendly ships with decarbonization technology, the company’s technological capabilities were recognized, leading to the successful order of eight 7,900 TEU eco-friendly container ships worth 1.2 trillion KRW from several European shipowners. All of these ships have similar hull forms, which additionally enhances productivity and profitability through repetitive construction.

The 1.75 trillion KRW order volume achieved last year in the merchant and special ship businesses is the largest ever for the Yeongdo Shipyard alone.

In the public construction sector, which ranked 8th in the public construction market last year with about 700 billion KRW in orders, this year’s orders nearly doubled to about 1.3 trillion KRW. Last year, the company secured major projects such as the Saemangeum International Airport and GTX-B Line Section 3-2, rising to 3rd place in the public construction market. In November, near the end of the year, it also won a 280 billion KRW contract for the construction of the new Cebu Port in the Philippines, marking success overseas as well.

The progress in urban redevelopment projects is also noteworthy. Leading with the housing brand ‘Haemoro,’ the company targeted niche markets as a mid-sized construction firm, securing a total of seven housing redevelopment projects worth 800 billion KRW in Busan, Bucheon, Namyangju, and other areas. HJ Heavy Industries has shown remarkable growth, with order volumes increasing by about 20% annually from 2020 through last year.

With new orders increasing across both major business groups, the backlog of orders has also risen. As of the end of December last year, HJ Heavy Industries’ combined backlog in shipbuilding and construction reached 9.3 trillion KRW.

HJ Heavy Industries stated, “Thanks to our capabilities demonstrated across all sectors and divisions of shipbuilding and construction, we achieved balanced order results and exceeded our targets. This year, we will continue to enhance our competitiveness through ongoing change and innovation, and unite the strength of all employees to enable the company to take a new leap forward.”