HD Hyundai Chairman Chung Ki-sun Discusses Strengthening Shipbuilding and Marine Industry Cooperation with Indian Petroleum Minister

Full-Scale Cooperation Linked to India's "Maritime Vision 2047"
Expanding Partnership Beyond Cochin Shipyard to Naval Projects

HD Hyundai Chairman Chung Ki-sun met with high-ranking officials from the Indian government to discuss ways to expand global partnerships in the shipbuilding, marine, and energy sectors. This meeting is seen as a sign that the establishment of a strategic cooperative relationship linked to India's maritime vision project is gaining momentum.

On November 13, HD Hyundai announced that Chairman Chung had received Hardeep Singh Puri, India's Minister of Petroleum and Natural Gas, at the HD Hyundai Global R&D Center in Pangyo, Gyeonggi Province, and discussed ways to expand mutual cooperation. The meeting was attended by Gaurangalal Das, Ambassador of India to South Korea; Esha Srivastava, Joint Secretary of the Ministry of Petroleum and Natural Gas; Lakshminan, Joint Secretary of the Ministry of Shipping, Waterways and Ports; Arun Kumar Singh, Chairman of Oil and Natural Gas Corporation (ONGC); Madhu Nair, Chairman of Cochin Shipyard; and other key public sector CEOs and officials.

Overview of Cochin Shipyard in India. Provided by HD Hyundai

Chairman Chung and Minister Puri discussed specific cooperation measures to strengthen the competitiveness of India's shipbuilding and marine industries, focusing on HD Hyundai's capabilities in ship design and construction, as well as its smart shipyard operation systems. Chairman Chung stated, "HD Hyundai will be the best partner to support the development of India's shipbuilding industry," adding, "We will strengthen our global leadership for sustainable growth." Minister Puri commented, "HD Hyundai is a very important partner in realizing India's maritime vision," and expressed hope that regular exchanges between the two countries would further solidify their cooperative relationship.

This meeting is part of the Indian government's 'Maritime Amrit Kaal Vision 2047' strategy. It is linked to a large-scale industrial development project aimed at achieving self-sufficiency in India's shipping, port, shipbuilding, and offshore plant industries. The Indian government has set a goal of increasing the country's merchant fleet from 1,500 to 2,500 vessels by 2047 and investing a total of 24 billion dollars to become one of the world's top five shipbuilding nations.

In July, HD Hyundai signed a memorandum of understanding (MOU) with Cochin Shipyard, India's largest state-owned shipbuilder, and is currently pursuing cooperation in various areas including design, procurement, productivity improvement, and workforce training. Recently, the scope of cooperation has expanded to include naval projects, further establishing HD Hyundai as a key partner in the advancement of India's shipbuilding industry.

Meanwhile, the Indian delegation is scheduled to visit HD Hyundai Heavy Industries' Ulsan shipyard on November 14 to tour the construction sites for commercial and special-purpose vessels.