K-Defense Top 2 Leaders at MADEX: Kim Dongkwan Focuses on Technology, Jung Kiseon on Networking

Kim Dongkwan Focuses on Future Business Strategies
Visits Competitors' Booths to Examine Advanced Defense Technologies
Jung Kiseon Highlights Networking with Military Leaders
Leads Reception and Engages with Global Naval Delegations
Subtle Competition Between Hanwha and HD Hyundai Emerges
KDDX Project Reveals Contrasting Approaches and Group Strategies

Kim Dongkwan, Vice Chairman of Hanwha, drew attention by visiting the '2025 International Maritime Defense Industry Exhibition (MADEX 2025)' held at BEXCO in Busan for two consecutive days, closely overseeing the event. On the opening day, May 28, he inspected the weapon technologies of Hanwha Ocean, Hanwha Aerospace, and Hanwha Systems-the group's three defense affiliates. On the second day, he continued to explore the direction of future business by visiting the booths of competing defense companies. Jung Kiseon, Senior Vice Chairman of HD Hyundai, which, along with Hanwha, is considered one of the two major pillars of the shipbuilding and defense industry, visited the venue on the first day, focusing on networking with industry stakeholders.

Hanwha and LIG Nex1·HD Hyundai joint booth installed at the '2025 International Maritime Defense Industry Exhibition (MADEX)' opened on the 28th at BEXCO in Busan. Photo by Seongpil Cho

On the second day of the exhibition, May 29, Vice Chairman Kim visited the booths of competitors such as KAI, Korean Air, and HD Hyundai. Hanwha stated, "Vice Chairman Kim directly examined the advanced technologies and products of domestic defense companies and continued to consider the direction of future business," adding, "This visit reaffirmed Hanwha Group's commitment to strengthening its defense capabilities and targeting the global market."

Vice Chairman Kim also appeared at the venue around 2:40 p.m. the previous day, arriving about an hour before the main event, a cocktail reception scheduled for 4:00 p.m. For this exhibition, Hanwha set up two large group pavilions, divided into surface vessels and submarines. Upon arrival, Vice Chairman Kim examined a model of an unmanned surface combat vessel displayed prominently at the entrance. This was the first time Hanwha unveiled a life-size model of this vessel, which is 3.5 meters long, or one-tenth the size of the actual ship. He then toured next-generation destroyers, future destroyer concepts, and 4,500-ton and 4,000-ton frigates.

Kim Dongkwan, Vice Chairman of Hanwha Group (third from the left in the middle row), is visiting the site at the opening of the '2025 International Maritime Defense Industry Exhibition (MADEX 2025)' held on the 28th at BEXCO in Busan. Photo by Seongpil Cho

After inspecting the booth on the first day, Vice Chairman Kim held a closed-door meeting for about 10 minutes with executives, including Kim Heechul, CEO of Hanwha Ocean, in a meeting room inside the booth. He then revisited the unmanned surface combat vessel model before leaving the venue. Although he did not attend the reception, Hanwha reported that he stated on-site, "We are doing our best to contribute to the national economy with the spirit of 'business for the nation,' meaning to serve the country through business."

Senior Vice Chairman Jung appeared at the venue around 3:30 p.m., about 30 minutes after Vice Chairman Kim had left. Rather than focusing on the exhibition booths, he concentrated on interacting with key military officials and employees at the reception. Arriving in time for the start of the HD Hyundai reception, he led the atmosphere by taking commemorative photos with employees and even took selfies with new hires. An HD Hyundai representative said, "Employees were as excited as if they were meeting a celebrity," and added, "Many wanted to take photos with Senior Vice Chairman Jung, and he gladly agreed."

Jung Kiseon, Senior Vice Chairman of HD Hyundai, attended the '2025 International Maritime Defense Industry Exhibition (MADEX 2025)' held at BEXCO in Busan on the 28th and took a commemorative photo with new employees of HD Hyundai Heavy Industries' Special Ship Division. Photo by HD Hyundai

During the reception, Senior Vice Chairman Jung delivered a prepared speech for about four minutes. He stated, "HD Hyundai is partnering with global companies to secure world-class technological capabilities in AI-based unmanned and automated systems, as well as electrification," and added, "We will develop state-of-the-art vessels to support global maritime security based on advanced technology." Referring to the HD Hyundai promotional video shown at the event, he said, "General Na Daeyong, who designed the turtle ship, inspired Chairman Chung Ju-yung in the shipbuilding industry," emphasizing, "Carrying on that legacy, HD Hyundai will contribute to global maritime security by developing vessels that incorporate advanced technologies."

Senior Vice Chairman Jung also exchanged views on the overall naval vessel business with representatives of naval delegations and major defense companies from various countries at the reception. Attendees included Yang Yongmo, Chief of Naval Operations of the Republic of Korea Navy, Neil Koprowski, Commander of U.S. Naval Forces Korea, and representatives from seven countries: Peru, the Philippines, Saudi Arabia, Malaysia, Thailand, Colombia, and Kenya. When asked by reporters about his impressions of attending MADEX for the first time, Senior Vice Chairman Jung replied, "We will do our best as Team Korea." At the end of the reception, he led a toast, saying, "Let's go together. Go together."

Jung Kiseon, Senior Vice Chairman of HD Hyundai, is making a toast during the reception at the opening of 'MADEX 2025 International Maritime Defense Industry Exhibition' held on the 28th at BEXCO in Busan. Photo by Seongpil Cho

This year's exhibition also revealed subtle tensions between the two groups over the Korean Next-Generation Destroyer (KDDX) project. The KDDX project is a large-scale national initiative to invest 7.8 trillion won by 2030 to acquire six 6,000-ton Aegis destroyers. In February, the Ministry of Trade, Industry and Energy designated both HD Hyundai Heavy Industries and Hanwha Ocean as defense contractors for the project. The two companies have even engaged in lawsuits and accusations during the process. An industry insider commented, "Vice Chairman Kim focused on products and technological capabilities, while Jung Kiseon emphasized organizational strength and networks," adding, "The differences in perspectives and strategies between the two groups were clearly evident at this year's MADEX."