Hyundai Heavy Industries, the nation’s top shipbuilder, said Wednesday the company has signed a memorandum of understanding with General Electric to form a comprehensive partnership for joint sales and marketing activities of fuel-efficient gas turbine-powered liquefied natural gas carriers. The U.S. industrial giant is a global leader in making engines for ships.

The partnership with GE came after technological partnership formed last year between the two parties to develop a fuel-efficient gas turbine for LNG ships, the company said.
 
HHI chairman Choi Kil-seon and GE vice chairman John Rice, who leads GE's global growth and operations, joined the signing ceremony, held in the shipbuilder’s headquarters, located in Ulsan, South Gyeongsang Province.

HHI executive vice president Chung Ki-sun, the eldest son of Chung Mong-joon, the company’s largest shareholder, also attended the ceremony to discuss further cooperation in other business areas, including plant construction and robot development for medical uses, beyond the shipbuilding.

Chung has increased his exposure to international partnership projects, aimed at seeking the shipbuilder’s future growth. Last November, he led a signing with the world’s largest oil company Aramco to jointly construct a shipyard in Saudi Arabia and proceed with large joint projects in various areas, including shipbuilding, engines and plants.

By Seo Jee-yeon (jyseo@heraldcorp.com)