HD Hyundai partners with Indian state-owned company to provide technical support for shipbuilding - South Korean media

HD Korea Shipbuilding & Marine Engineering, a member of HD Hyundai (formerly Hyundai Heavy Industries) Group, recently signed a memorandum of understanding (MOU) with Kochi Shipbuilding & Marine Engineering (CSL), a state-owned shipbuilding company in India, for long-term cooperation in the shipbuilding sector.
Under the MOU, HD Korea Shipbuilding & Marine Engineering will provide CSL with support for design and purchasing, technical cooperation to improve productivity and ensure world-class quality, and assistance in strengthening the capabilities of its human resources and upgrading its training system.
The two countries will cooperate in various areas, including in the area of marine infrastructure development, such as the construction of new ships and the construction of new ships. The two countries will also explore opportunities to receive orders for ships in the Indian and overseas markets. India will allocate approximately 250 billion rupees (approximately 420.9 billion yen) to the Maritime Development Fund in 2025.
The government is expanding support for shipbuilding and marine infrastructure development by establishing a base for shipbuilding projects. This will enable the country to aim to be among the top 10 shipbuilding companies in the world by 2030 and among the top 5 by 2047.
Through this cooperation, HD Hyundai aims to further strengthen the competitiveness of India's shipbuilding industry, which has the world's largest population.
Meanwhile, HD Hyundai signed an MOU with Huntington Ingalls Industries, the largest shipbuilding company in the United States, in April and
In November 2024, the company will partner with Peruvian state-owned shipbuilding company Sima Shipyards to jointly develop submarines, expanding its defense business.
It is creating synergy with the shipbuilding sector.