Summary
HD Hyundai began its shipbuilding business in 1972 and has grown into a comprehensive heavy industries company. In March 2022, on its 50th anniversary, the company changed its name from Hyundai Heavy Industries Group to HD Hyundai. Based on its shipbuilding business, it has also expanded into marine plants, engine machinery, electrical and electronic systems, green energy, and construction equipment businesses. The group completed a business division in 2017 during its time as Hyundai Heavy Industries Group, becoming a holding company system.
The major affiliates are divided into the shipbuilding and marine sectors and the energy, machinery, and robotics sectors. The intermediate holding companies include HD Korea Shipbuilding & Marine Engineering for the shipbuilding and marine sector, HD Hyundai Oilbank for the energy sector, and HD Hyundai Construction Equipment Solutions for the machinery and robotics sector. Hyundai Heavy Industries Sports operates the professional football team Ulsan Hyundai Football Club. The group ranks 9th in the business world.
Timeline
▲ 1970 = Shipbuilding Business Division launched in Hyundai Engineering & Construction.
▲ 1971 = Business Plan of Hyundai Ulsan Shipyard approved by the government.
▲ 1972 = Contract for two 260,000 DWT VLCCs signed with George Livanos and groundbreaking for shipyard.
▲ 1973 = Hyundai Shipyard & Heavy Industries established under the leadership of CEO and founder Chung Ju-yung.
▲ 1974 = Hyundai Shipyard dedicated the 1st and 2nd dry docks at Ulsan and named the first VLCCs as Atlantic Baron & Atlantic Baroness.
▲ 1975 = Hyundai Mipo Dockyard (HMD) established as a ship repair yard; Hyundai Shipyard completed the 3rd dry dock with the capacity of 1 million DWT.
▲ 1976 = Engine & Machinery Division inaugurated by Hyundai Shipyard & Heavy Industries; Contract for USD 935 million Jubail Industrial Harbour Project signed with Saudi’s OTTC.
▲ 1977 = Heavy Electric Machinery Division launched.
▲ 1978 = Hyundai Shipyard & Heavy Industries renamed Hyundai Heavy Industries (HHI); Hyundai Engine spun off from HHI’s Engine & Machinery Division; Hyundai Heavy Electric Machinery spun off from HHI’s business division; Hyundai Engine opened the world’s largest engine shops with the annual production capacity of 900,000 BHP.
▲ 1979 = Hyundai Engine conducted the trial operation for its first 9,380 BHP marine engine (MAN B&W 7L55GF).
▲ 1980 = HHI launched Korea’s first destroyer Ulsanham.
▲ 1982 = HMD kicked off as the world’s largest ship repair yard upon completion of 150,000 DWT dry dock; HHI contracted for the first overseas turn-key power plant project (Makkahtaif Thermal Power Plant in Saudi Arabia).
▲ 1983 = HHI was ranked as the global No.1 shipbuilder in new orders and production by Diamond; HHI entered into construction equipment business by setting up Heavy Machines Division; Hyundai Welding Technology Institute opened and later renamed Hyundai Industrial Technology Institute; HMD listed on Korea Exchange.
▲ 1984 = HHI opened Hyundai Maritime Research Institute.
▲ 1985 = HHI’s Offshore & Engineering Division inaugurated upon the merger of Steel Structure Division and Hyundai Offshore Development; HHI’s Offshore & Engineering Division delivered then the world’s largest 99,000-ton offshore structure Exxon Jacket.
▲ 1986 = HHI delivered the world’s largest 320,000 DWT ore carrier.
▲ 1987 = HHI Labor Union organized.
▲ 1988 = Construction Equipment Division started the sale of its brand model in the domestic market; Hyundai Robot Industries established.
▲ 1989 = Hyundai Heavy Machines Industry spun off from HHI’s Construction Equipment Division; Hyundai Engine merged with HHI and organized as Engine & Machinery Division.
▲ 1993 = HHI registered in The Guinness Book of Records in the categories of “The Most Productive Shipbuilder,” “The World’s Largest Cargo Carrier” and “The Most Visited Shipyard”; HHI grew into an integrated heavy industries company through the merger of Hyundai Heavy Machines and Hyundai Electrical Engineering.
▲ 1994 = HHI delivered Korea’s first LNG carrier to Hyundai Merchant Marine.
▲ 1996 = HMD started newbuilding business and set up a joint venture Hyundai-Vinashin Shipyard (HVS) in Vietnam, specialized in ship repair and conversion; HHI completed No.2 Yard (dry docks No. 8&9) dedicated to building VLCCs.
▲ 1997 = HHI achieved 50 million DWT in ship production and 2,000 BHP in two-stroke marine engine production.
▲ 1999 = HHI listed on Korea Exchange (KRX).
▲ 2000 = HHI’s Engine & Machinery Division developed its proprietary four-stroke marine diesel engine HiMSEN.
▲ 2002 = Hyundai Heavy Industries Group spun off from Hyundai Group; HHI acquired Halla Heavy Industries (later renamed Hyundai Samho Heavy Industries).
▲ 2004 = HHI’s Engine & Machinery Division produced the world’s largest propeller with a diameter of 10 m and a weight of 106.3 ton for Conti of Germany; HHI’s Offshore & Engineering Division launched the first 105,000 DWT tanker built on ground (later named NS Challenger) for Novoship of Russia.
▲ 2005 = Hyundai Robotics reached the production milestone of the 10,000th industrial robot for the first time in South Korea.
▲ 2007 = HHI entered into green energy business by completing a photovoltaic panel factory in Eumseong, South Korea; Wärtsilä -Hyundai Engine Company established.
▲ 2008 = Hyundai HYMS established; Hyundai Heavy Industries Sports established and incorporated with Ulsan Hyundai Football Club; HHI’s Construction Equipment opened the production factory in India.
▲ 2009 = HHI’s Offshore & Engineering completed the ‘H Dock’ dedicated to building FPSO units; HHI operated the ‘Digital Shipyard’ applied with wireless broadband (WiBro) technology; Hyundai Cosmo established.
▲ 2010 = HHI acquired Hyundai Oilbank; HHI’s Engine & Machinery Division surpassed the record production milestone of 100 BHP in two-stroke marine engine after the first in 1979; HHI’s Electro- Electric Systems Division opened at the transformer factory in Alabama, US.
▲ 2011 = Asan Nanum Foundation established; HHI Group completed the new headquarters of Corporate Research Center in Ulsan.
▲ 2012 = Hyundai Oilbank established “1% Nanum (Sharing) Foundation” and incorporated Hyundai Oil Terminal and Hyundai-Shell Base Oil; HHI’s Green Energy Division opened Solar Photovoltaic Power R&D Center in Eumseong, South Korea.
▲ 2013 = HHI built the Green Factory in its shipyard.
▲ 2014 = Hyundai Chemical established; Hyundai E&T established.
▲ 2015 = HHI Group launched Hyundai Marine Service Center (later incorporated as Hyundai Global Service); HHI delivered the 2,000th, HMD 800th and HSHI 600th ships respectively.
▲ 2016 = HHI’s Engine & Machinery produced the aggregate gate production of 10,000 units of four-stroke HiMSEN engine; Hyundai Heavy Industries Green Energy, MOS and Hyundai Global Service established.
▲ 2017 = Hyundai Robotics, Hyundai Electric Energy & Systems and Hyundai Construction Equipment spun off from HHI; Hyundai Construction Equipment opened the new European headquarters at Tessenderlo, Belgium.
▲ 2018 = Hyundai Heavy Industries Holdings launched.
▲ 2019 = Korea Shipbuilding & Offshore Engineering launched.
▲ 2020 = Hyundai Heavy Industries 1% Nanum Foundation Launched.
