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HD Hyundai chair bolsters business ties, national bonds with Phillippines

Published: 05 Mar. 2026, 15:27 Updated: 05 Mar. 2026, 16:04

LEE JAE-LIM
[email protected]

HD Hyundai Chairman Chung Ki-sun, in the middle, poses with employees at the HD Hyundai Philippines on March 5 after inspecting the shipyard in the Philippines. The chairman visited the Philippines as part of the Korean government's economic delegation. [HD HYUNDAI]

HD Hyundai Chairman Chung Ki-sun attended the Korea-Philippines Business Forum and inspected the company’s shipyard during a visit to the Philippines as part of the Korean government’s economic delegation.

The forum, held on Wednesday, was co-hosted by the Federation of Korean Industries and the Philippine Chamber of Commerce and Industry and focused on expanding bilateral economic cooperation.

Later that day, Chung visited the Korean War Memorial Hall at Libingan ng mga Bayani, the National Heroes Cemetery in Manila, where he laid a wreath in honor of Filipino soldiers who fought in the war. The Philippines was the first Asian country to organize a combat unit during the war and deployed the largest contingent among Asian nations, sending 7,420 troops.

On Thursday, Chung visited HD Hyundai Philippines in Subic Bay, where he inspected the shipyard and the construction site of a new employee dormitory and met with local employees.

HD Hyundai Chairman Chung Ki-sun pays tribute at the Korean War Memorial Hall at Libingan ng mga Bayani, the National Heroes Cemetery in Manila, on March 4. The Chairman visited the Philippines as part of the Korean government's economic delegation. [HD HYUNDAI]

“HD Hyundai has gone beyond simple business cooperation with the Philippines and has served as an important bridge strengthening friendship between our two countries,” Chung said in a statement. “We will continue to build deeper trust with the Philippines with pride in representing Korea.”

HD Hyundai established HD Hyundai Philippines in May 2024 after its shipbuilding holding company, HD Korea Shipbuilding & Offshore Engineering, signed a lease agreement with U.S.-based Cerberus Capital Management for part of a shipyard site in the Philippines.

Since 2016, HD Hyundai Heavy Industries has secured contracts to build 12 naval vessels for the Philippine Navy as part of the country’s naval modernization efforts. In 2022, the company also established a logistics support center in the Philippines to provide maintenance, repair and overhaul services for previously delivered vessels, including frigates and corvettes.

BY LEE JAE-LIM [[email protected]]