[Alpha Biz= Kim Jisun] HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company of HD Hyundai’s shipbuilding division, announced on August 25 that it has invested KRW 108.9 billion in its Philippine subsidiary. Established in June last year, the subsidiary signed a 10-year lease with Agila Subic, operator of the Subic Shipyard, and has been preparing to restart operations. The new investment will expand shipbuilding facilities, with plans to increase Subic’s annual capacity from the current four vessels to as many as ten.




In Vietnam, HD KSOE recently acquired Doosan Enerbility Vietnam (Doosan Vina) for KRW 290 billion, which it will utilize as a base for its port crane business.




Hanwha Ocean is also ramping up global production. Following its acquisition of U.S.-based Philly Shipyard for USD 100 million (KRW 1.4 trillion) last year, the company plans to invest at least an additional USD 70 million (KRW 945 billion) to boost annual capacity to 10 vessels by 2035.




Industry analysts note that Korean shipbuilders are accelerating overseas expansion due to fully booked domestic docks, intensifying competition with China, and new labor law revisions that could expose companies to heightened labor risks. Given that subcontracted labor accounts for more than 60% of the workforce and suppliers exceed 1,000 companies, even a single strike could paralyze shipyard operations where delivery deadlines are critical.



Beyond shipbuilding, other Korean industries are also expanding abroad. The three major Korean battery makers have committed nearly KRW 53 trillion to U.S. investments. LG Energy Solution is building joint-venture plants with Hyundai Motor and Honda, as well as additional facilities with General Motors, alongside a standalone plant in Arizona. Samsung SDI is partnering with GM and Stellantis on a plant in Indiana, while SK On is jointly constructing factories with Hyundai and Ford in Kentucky and Tennessee.




The tire industry is following suit. Hankook Tire has invested about KRW 3 trillion to expand its Tennessee plant in the U.S. and is committing KRW 820 billion to expand truck and bus tire production in Hungary. Kumho Tire is reviewing new plant sites in Europe, while Nexen Tire is exploring opportunities in Southeast Asia and the U.S.

 

 

 

 

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