Visits to the Philippines, Singapore, and Vietnam
Direct Oversight of Core Industries Such as Shipbuilding and Refining
Cooperation with Indian State-Owned Shipyard... Accelerating Global Expansion
Kwon Ohgap, Chairman of HD Hyundai, has embarked on direct global on-site management immediately after emphasizing to the presidents of major affiliates at a recent meeting that they should "visit the field frequently." HD Hyundai plans to strengthen its crisis response capabilities and boost momentum for global business expansion by focusing on strategic bases where its core industries, such as shipbuilding and refining, are concentrated. In addition, the company is accelerating its entry into the global shipbuilding market by expanding cooperation with India's state-owned shipyard.
On July 7, HD Hyundai announced that Chairman Kwon would sequentially visit three Southeast Asian countries? the Philippines, Singapore, and Vietnam? from July 6 to July 11 to inspect major business sites and encourage local employees. Previously, Chairman Kwon had convened the presidents of major affiliates and reiterated the company's field-oriented management approach, instructing them to "personally visit the sites frequently to ensure there are no shortcomings."
The first destination is the Subic Shipyard in the Philippines. Chairman Kwon plans to tour the site, check the progress of operations and safety management, and personally encourage local staff. HD Korea Shipbuilding & Offshore Engineering is leasing part of the Subic Shipyard to manufacture offshore wind power substructures and build ships.
Next, he will visit Singapore to receive reports on local sales strategies and major business operations. Singapore serves as Asia's hub for refining, logistics, and shipping industries, and is home to subsidiaries such as HD Hyundai Oilbank and HD Hyundai Marine Solution. In Vietnam, he will visit HD Hyundai Mipo's Vietnamese subsidiary, HD Hyundai Vietnam Shipbuilding (HVS), located in Khanh Hoa Province. Established in 1996 as a repair and conversion business, the company entered the new shipbuilding market in the late 2000s and has since secured orders for more than 200 vessels.
View of Subic Shipyard in the Philippines. Photo by Asia Economy DB
An HD Hyundai official said, "This visit to three Southeast Asian countries is aimed at directly checking the operation status of our global key bases and strengthening business momentum through direct communication with local teams. Chairman Kwon continues to demonstrate field-oriented leadership by visiting major business sites both domestically and internationally."
At the same time, HD Hyundai is accelerating its efforts to enter the global shipbuilding market through comprehensive cooperation with Cochin Shipyard Limited (CSL), India's largest state-owned shipyard. HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for HD Hyundai's shipbuilding division, recently signed a memorandum of understanding (MOU) with CSL for long-term cooperation. Both parties plan to enhance local production capabilities in line with the Indian government's marine industry development policies and jointly seek opportunities to win overseas ship orders.
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