HD Hyundai Builds New U.S. Shipyard

HD Hyundai is entering the American shipbuilding market with the construction of a new shipyard. This move aligns with the "Make America's Shipbuilding Great Again" initiative, aiming to secure U.S. naval vessel projects. The company recently signed a contract with Kiewit, the largest construction firm in the U.S., to establish a joint venture named HD Kiewit Shipbuilding.

This strategic partnership, formed in July, focuses on joint ship construction, ship block, and module production in the U.S. With HD Hyundai's advanced technology and Kiewit's expertise in large-scale infrastructure, they aim to create a state-of-the-art smart shipyard. This new facility, likely located in the U.S. Southwest, is set to commence construction next year and become operational by 2029.

HD Hyundai, unlike Hanwha Ocean, which acquired an existing shipyard, will be the first U.S. shipyard to adopt the 'future shipyard' model and utilize digital production technology, including digital twins, automation systems, and robot welding. This smart shipyard aims to boost productivity, quality, and safety while addressing the skilled labor shortage.

As construction progresses, HD Hyundai anticipates the opportunity to win orders for U.S. warships built in Korea. The U.S. administration has allowed overseas construction of up to two U.S. warships, requiring either the construction of a new shipyard in the U.S. or ownership/majority stake in an existing one. Currently, Hanwha Ocean is the only local shipbuilder meeting this requirement.

HD Hyundai plans to explore business opportunities in U.S. Navy logistics support ships, commercial ships, ship block, and module production, and even expand into the port infrastructure sector.