Samsung Heavy Industries Partners with SMEs to Lead Mutual Growth in K-Shipbuilding

Samsung Heavy Industries announced on July 6 that it had signed a strategic Memorandum of Understanding (MOU) to establish a mutual growth coexistence model with its domestic small and medium-sized partners, HSG Sungdong Shipbuilding and Geonhwa, at the Geoje Samsung Hotel in Geoje City, Gyeongnam Province, on July 4.

Under this partnership, Samsung Heavy Industries will outsource the construction of entire oil tankers to HSG Sungdong Shipbuilding, while Geonhwa will be entrusted with the production of large blocks for liquefied natural gas (LNG) carriers.

Through this arrangement, Samsung Heavy Industries aims to solidify a 'win-win' model that enhances the shipbuilding competitiveness of both itself and its small and medium-sized partners. Samsung Heavy Industries will improve process efficiency, while its partners will secure stable workloads and gain opportunities to enhance their technological capabilities.

Samsung Heavy Industries Signs MOU for Mutual Growth in the Domestic Shipbuilding Industry

(Seoul=Yonhap News) On July 4th, at the Geoje Samsung Hotel in Geoje City, Gyeongnam Province, (from left) Kim Hyunki, CEO of HSG Sungdong Shipbuilding, Lee Wanggeun, Shipyard Director of Samsung Heavy Industries, and Jeyoungseop, CEO of Geonhwa, posed for a commemorative photo after signing a strategic Memorandum of Understanding (MOU) to establish a mutual growth coexistence model. 2025.7.6 [Provided by Samsung Heavy Industries. Redistribution and DB prohibited]

Photo by Yonhap News

Samsung Heavy Industries stated that, starting with this agreement, it plans to establish a long-term cooperative system with small and medium-sized partners and contribute to expanding employment and revitalizing the local economy in the Gyeongnam region.

Lee Wanggeun, Shipyard Director (Vice President) of Samsung Heavy Industries, said, "We will create a cooperative ecosystem for mutual growth with small and medium-sized partners, strengthen our global order competitiveness, and develop this into a growth model representing K-shipbuilding."