HD Hyundai Chair Chung Ki-sun (HD Hyundai)
HD Hyundai Chair Chung Ki-sun (HD Hyundai)

Chung Ki-sun, the new chair of Korean shipbuilding-to-oil-refining conglomerate HD Hyundai, called for technology-focused solutions to tackle the company’s challenges on Monday.

“Since we first began building our shipyard in Ulsan in 1972, we have faced numerous difficulties. But we have always focused on ‘what we can do immediately,’” Chung said in an email addressed to all employees.

“Among countless possibilities, we found what we could achieve, and by putting our full effort into it, we ultimately created something that only we can do.”

Chung, the grandson of Hyundai Group founder Chung Ju-yung and formerly executive vice chair, was promoted to chairperson in the group's reshuffle of top executives Friday.

In his message, Chung acknowledged that the group faces mounting pressure from Chinese competitors who are increasingly dominating the global shipbuilding and construction equipment sectors through price competitiveness and rapid automation.

However, he added that HD Hyundai can gain a competitive edge by enhancing the operational efficiency of its vessels through the use of new technologies and innovative ship designs.

Digital and AI–based initiatives in its shipyards are also expected to help narrow the production cost gap with Chinese rivals, offering greater overall value than lower-priced alternatives.

In the construction equipment business, Chung noted that applying cutting-edge technologies and establishing a new production campus in Ulsan are enhancing both product competitiveness and production efficiency, earning positive feedback from customers.

He also highlighted the importance of expanding the group's business portfolio to maintain long-term stability despite shifts in the global industrial cycle.

At the same time, he reaffirmed his commitment to advancing future-oriented businesses such as autonomous ships, robotics and small modular reactors, while expanding into new markets through the Make American Shipbuilding Great Again, or MASGA, initiative, which aims to establish Korean-operated shipyards in the US.

“One of my key responsibilities is to ensure that our DNA (of overcoming challenges) is fully passed on to the next generation,” Chung said. “I will devote all my efforts to making HD Hyundai a ‘future builder’ that leads humanity’s progress in unison.”


forestjs@heraldcorp.com