"MAKSGA": A Toast to Korean Shipbuilding, Swapping "America" for "Korea"
Industry Leaders: "Global Orders Expanding... China Remains a Challenge"
36 Honorees from the Big Three Shipbuilders and Others Receive Government Awards
"Moving Forward as One Team"
The government and industry leaders have united in their call to strengthen the "super-gap competitiveness" of the shipbuilding and marine sector. With a focus on artificial intelligence (AI), eco-friendliness, and expanding supply chains, they aim to address on-site challenges such as increasing orders and nurturing talent simultaneously.
On September 18, at the 22nd Shipbuilding and Marine Day ceremony held at EL Tower in Seocho-gu, Seoul, the Ministry of Trade, Industry and Energy and representatives from the domestic shipbuilding industry honored individuals who contributed to the sector's development. The event was attended by more than 250 industry figures, including Moon Sinhak, First Vice Minister of the Ministry of Trade, Industry and Energy; Sangkyun Lee, President and CEO of HD Hyundai Heavy Industries and Chairman of the Korea Shipbuilding and Offshore Plant Association; Sungahn Choi, Vice Chairman of Samsung Heavy Industries; Heecheol Kim, CEO of Hanwha Ocean; Jaeul Kim, President of HD Hyundai Samho; Sangcheol Yoo, CEO of HJ Shipbuilding & Construction; and Yongjoo Park, Director General of the Korean Intellectual Property Office.
Sangkyun Lee, President of HD Hyundai Heavy Industries and Chairman of the Korea Offshore & Shipbuilding Plant Association, is speaking at the 22nd Shipbuilding and Marine Day ceremony held on the 18th at EL Tower in Seocho-gu, Seoul. Photo by O Ji-eun
In his commemorative speech, Chairman Sangkyun Lee stated, "In the first half of this year, we secured orders totaling 4.9 million CGT, a 25% increase year-on-year, and exports rose by 18% to 13.9 billion dollars. We now account for over 40% of global orders for high-value-added vessels such as LNG carriers." He added, "While there are expectations for improved profitability, concerns remain. We must address challenges including the pursuit by competitors like China, the advancement of hydrogen and ammonia fuel technologies, and the need to strengthen safety processes at shipyards." He further emphasized, "We need to nurture specialized talent by combining government support with industry-led technological development."
Vice Minister Moon Sinhak remarked, "K-Shipbuilding has achieved 25 billion dollars in exports for the first time in seven years and has reclaimed its top position by building three-quarters of the world's LNG carriers. By the end of the year, we will establish a 'Next LNG' strategy and prepare for future growth through AI-powered advanced shipyards and measures to strengthen supply chains." This year, the budget to support the shipbuilding industry has been increased by 50% to 240 billion won compared to last year.
At the 22nd Korea Shipbuilding and Offshore Day ceremony held on the 18th at EL Tower in Seocho-gu, Seoul, Moon Sinhak, First Vice Minister of the Ministry of Trade, Industry and Energy (left), awarded the Silver Tower Order of Industrial Service Merit to Kim Changyong, Executive Director of Hanwha Ocean. Photo by Oh Jieun
On this day, 36 industry contributors received government awards. Kim Changyong, Executive Director of Hanwha Ocean, was presented with the Silver Tower Order of Industrial Service Merit for his contributions to the transition to smart yards through process innovation and automation. Ilho Lee, Executive Director of HD Hyundai Samho, also received the Silver Tower Order of Industrial Service Merit for establishing LNG carrier construction systems and enhancing competitiveness in eco-friendly vessels.
During the dinner following the awards ceremony, a lighthearted moment underscored the promotion of Korea's shipbuilding industry. Hoil Kang, Chairman of the Korea Marine Equipment Association, proposed a toast using the phrase "MAKSGA (Make Korean Shipbuilding Great Again)," a play on "MASGA (Make America Shipbuilding Great Again)," substituting "Korea" for "America," and celebrated with the attendees.
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