HD Hyundai is strengthening its cooperation with Vietnam, a key overseas shipbuilding base.

On the 12th, HD Hyundai announced that it attended a business meeting hosted by 'To Lam', the General Secretary of the Communist Party of Vietnam, who is on a state visit to Korea, to discuss mutual cooperation plans. The General Secretary holds the highest rank in Vietnam, responsible for deciding major national policies and strategies and setting the party's direction.

During the meeting, Kim Sung-joon, CEO of HD Korea Shipbuilding & Offshore Engineering, explained the benefits of mutual cooperation and expressed a commitment to strengthening business in Vietnam. It was particularly emphasized that the development of the Vietnamese shipbuilding industry, a key partner, is crucial for the sustainable growth and supply chain enhancement of the Korean shipbuilding industry. As part of this, it was proposed to extend the project period for HD Hyundai Vietnam Shipyard from the existing 50 years to 70 years to ensure stable operations, requesting active support from the Vietnamese government.

Kim Sung-joon, CEO of HD Korea Shipbuilding & Offshore Engineering, stated, “Vietnam is a pillar of HD Hyundai's core business, shipbuilding, and a top business partner,” adding, “We will further solidify our cooperative relationship through continuous investment in HD Hyundai Vietnam Shipyard, recognized as a model case of overseas expansion by Korean companies.” HD Hyundai established HD Hyundai Vietnam Shipyard in 1996 through a joint venture with a Vietnamese state-owned company. Notably, HD Hyundai Vietnam Shipyard is recognized as the first and only successful overseas venture by a domestic shipbuilding company. It operates on a large-scale facility with approximately 1 million square meters of land in Vietnam, equipped with two docks, a 1.3 km long quay, a hull factory, an outfitting factory, and a painting factory. It is known as the largest shipyard in Southeast Asia.

A Memorandum of Understanding (MOU) was also signed to enhance practical cooperation. On this day, HD Korea Shipbuilding & Offshore Engineering signed an MOU on comprehensive shipbuilding cooperation with Vietnam Maritime Corporation (VIMC), the largest state-owned shipping company in Vietnam. According to the agreement, various fields of cooperation will be pursued, including promoting the development of the Vietnamese shipbuilding industry and expanding and modernizing VIMC's fleet.

Time was also taken for bilateral exchange and cooperation. Prior to the business meeting, the 'Korea-Vietnam Business Forum' was held, attended by approximately 400 businesspeople from both countries. Kim Sung-joon, CEO of HD Korea Shipbuilding & Offshore Engineering, spoke as a Korean representative, introducing the achievements of cooperation with Vietnam and future visions.

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