HD Hyundai outlines future growth strategy, targeting 100 trillion won by 2030

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HD Hyundai outlines future growth strategy, targeting 100 trillion won by 2030

Published: 04 Dec. 2025, 13:20 Updated: 04 Dec. 2025, 13:50

LIM JEONG-WON
[email protected]

Audio report: written by reporters, read by AI

HD Hyundai Chairman Chung Ki-sun delivers opening remarks at the Korea-U.S. Shipbuilding Cooperation Expert Forum held at the HD Hyundai Global R&D Center in Seongnam, Gyeonggi on June 24. [YONHAP]

HD Hyundai has established its future growth strategy and implementation road map, aiming to achieve 100 trillion won ($68 billion) in group sales within the next five years, the world's largest shipbuilder said Thursday.

HD Hyundai said Thursday that it held a group management strategy meeting at HD Hyundai Heavy Industries in Ulsan between Wednesday and Thursday. The meeting was attended by 32 executives from HD Hyundai and its affiliates, including Chairman Chung Ki-sun and the heads of HD Hyundai Heavy Industries, HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Oilbank.

The meeting took place to effectively respond to recent trends such as the slowing shipbuilding order cycle, strengthening protectionism and localization policies in the U.S., Europe and China, as well as the fierce pursuit by Chinese competitors in core businesses. The meeting also aimed to establish a foundation for sustainable growth.

HD Hyundai reviewed the management strategies of all its business divisions at the two-day group strategy meeting, including shipbuilding, construction equipment, energy and new businesses, according to the company.

The shipbuilding group presented a mid- to long-term growth vision as part of its 100 trillion won sales goal. This vision focuses on accelerating the transition to environmentally sustainable ships such as ammonia-powered and methanol-fueled vessels, digitization and AI, strengthening the global competitiveness of core businesses and fostering new growth areas.

As part of the strategy, HD Hyundai will maximize synergies resulting from the mergers of HD Hyundai Heavy Industries and HD Hyundai Mipo in the shipbuilding sector, and HD Hyundai Construction Equipment and HD Hyundai Infracore in the construction equipment sector.

A 13,000-TEU container carrier built by HD Hyundai Heavy Industries and delivered in 2024 [HD HYUNDAI]

Through these mergers, the company aims to secure a competitive edge in the global shipbuilding market and actively expand its global market share in the construction equipment business, HD Hyundai said.

The company plans to strengthen profitability in its recently sluggish oil refining and petrochemical businesses through innovation initiatives to restore cost competitiveness and expanded production of high value-added products.

Adding to this, the power equipment business plans to proactively address growing global demand by expanding production capacity and further strengthen its position in the medium- and low-voltage circuit breakers market.

HD Hyundai also plans to systematically foster the group's future growth businesses, including robotics, autonomous navigation, electric propulsion, fuel cells and small nuclear reactors.

“This is a critical time for our group's transformation and leap forward,” Chung said during the meeting. “I urge our leaders to face the harsh realities facing our core businesses and demonstrate HD Hyundai's signature driving force to prepare for the group's future.”

BY LIM JEONG-WON [[email protected]]