Mid-sized shipbuilding companies doing well, rebounding with high-value-added ships = South Korea

Korea Shipbuilding recorded a cumulative operating profit of 132.2 billion won (approximately 13,930.57 million yen) in the April-June period of 2025, up 129% from the same period last year.
STX Shipbuilding & Marine Engineering's operating profit for the January-June period increased threefold to 42 billion won (approximately 4.42625 billion yen). HJ Heavy Industries' operating profit also increased to 27.6 billion won (approximately 2.9 billion yen).
) deficit to a profit of 10.8 billion won (approximately 1.1382 billion yen). Mid-sized shipbuilding companies have struggled for the past decade. Since the mid-2010s, the company has faced increasing competition and low
Due to the deterioration of profitability caused by price-based orders, Korean companies have filed for corporate reorganization one after another. However, in 2020, the development of high-value-added ships such as LNG (liquefied natural gas) carriers and tankers has increased.
The market is recovering due to an increase in orders. STX Shipbuilding & Marine Engineering is emerging as a leader in the refined petroleum product carrier (PC) market. Meanwhile, Korea Shipbuilding is focusing on crude oil carriers, and HJ Heavy Industries is focusing on defense vessels such as landing craft.
With orders received, each company is demonstrating its competitiveness. The favorable performance is expected to continue into 2025. As ship prices rise, deliveries of ships already on order are expected to lead to improved performance.
A person involved in the shipbuilding industry said, "The industry structure, which has been dominated by large shipbuilding companies, will become more diversified, and competition will likely increase."