HD Hyundai Discusses 'Shipbuilding Cooperation' with Vietnam...Hopes to Extend 50-Year Project to 70 Years

Kim Sungjoon, CEO of HD Korea Shipbuilding & Offshore Engineering, Meets with General Secretary To Lam
Shares Achievements of Korea-Vietnam Cooperation at Business Forum
"We Will Strengthen Mutual Cooperation Through Continued Investment"

HD Hyundai is further strengthening its shipbuilding cooperation with Vietnam, a key overseas construction hub.

On August 12, HD Hyundai announced that it participated in a business roundtable hosted by General Secretary To Lam of Vietnam, who is on a state visit to Korea, to discuss ways to expand cooperation in the shipbuilding industry. At the event, Kim Sungjoon, CEO of HD Korea Shipbuilding & Offshore Engineering, stated, "Vietnam is a core pillar of HD Hyundai's shipbuilding business and our top business partner," adding, "We will solidify our cooperative relationship through continued investment in HD Hyundai Vietnam Shipbuilding." He also requested that the Vietnamese government extend the current project period from 50 years to 70 years to ensure stable operation of the shipyard.

A view of the HD Hyundai Vietnam Shipyard located in Vietnam. HD Hyundai established HD Hyundai Vietnam Shipbuilding in 1996 as a joint venture with a Vietnamese state-owned company. HD Hyundai

On the same day, HD Korea Shipbuilding & Offshore Engineering signed a "Comprehensive Shipbuilding Cooperation MOU" with Vietnam Maritime Corporation (VIMC), the largest state-owned shipping company in Vietnam. Both parties agreed to cooperate in various areas, including promoting the development of Vietnam's shipbuilding industry and expanding and modernizing VIMC's fleet.

Earlier, the Korea-Vietnam Business Forum was attended by more than 400 business leaders from both countries. CEO Kim represented the Korean side as a speaker, sharing the achievements of shipbuilding cooperation and future vision, which was well received.

HD Hyundai established HD Hyundai Vietnam Shipbuilding in 1996 as a joint venture with a Vietnamese state-owned company. HD Hyundai Vietnam Shipbuilding is recognized as the first overseas business site of a Korean shipbuilder and remains the only successful case. With a site of approximately 1 million square meters, two docks, a 1.3-kilometer quay, and large-scale facilities for hull assembly, outfitting, and painting, it has established itself as the largest shipyard in Southeast Asia.