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HD Hyundai launches fully owned Singapore subsidiary to boost efficiency

Published: 26 Sep. 2025, 18:56

A ship under construction is seen at HD Hyundai Heavy Industries' shipyard in Dong District, Ulsan, on July 31. [YONHAP]

Korean shipbuilding group HD Hyundai said Friday it has established a wholly owned subsidiary in Singapore to enhance the management of its overseas businesses.

HD Hyundai, formerly Hyundai Heavy Industries Holdings, recently set up HD Hyundai Asia Holdings in the city-state, a company spokesperson said.

HD Korea Shipbuilding & Offshore Engineering (HD KSOE), a subholding company of HD Hyundai, will invest 452.1 billion won ($319 million) on Nov. 28 for a 60 percent stake in the Singaporean unit, the company said in a regulatory filing.

Its affiliates will also invest in the unit for tighter control of the group's overseas operations.

HD Hyundai Heavy Industries, one of three affiliates under HD KSOE, along with HD Hyundai Samho Heavy Industries and HD Hyundai Mipo Dockyard, said it will inject 252.4 billion won for a 31.1 percent stake in the subsidiary on the same date.

HD Hyundai Mipo Dockyard said it will contribute 72.5 billion won for an 8.9 percent stake.

Yonhap