Since the beginning of this year, a shipbuilding battle has been heating up between seventh-ranked Hanwha Group and ninth-ranked HD Hyundai Group. After Hanwha acquired Daewoo Shipbuilding & Marine Engineering (now Hanwha Ocean) last year, the two groups emerged as new rivals in the shipbuilding ind
Last Edited Jan. 9, 2024, 12:40 p.m. A previous version of this story incorrectly said that the company had decided to stop taking orders, which the company asserts is not true. The previous version of the story also said that the company is planning to reduce the number of its docks, which the comp
Blueprints of a submarine designed by Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) have been leaked to Taiwan, with the police currently investigating the matter. The leaked submarine blueprints pertain to the DSME1400 model, a variant of the 209-class KSS-1 submarine. Three of t
HD Hyundai, which has an unrivaled presence in the world marine engine market, has further strengthened its position with the acquisition of STX Heavy Industries. This acquisition has enabled HD Hyundai to solidify its competitive advantage over Hanwha Ocean in the global marine engine market, exper
The market capitalizations of the 10 largest Korean conglomerates have reached 40 trillion won in a month and a half, according to securities information firm FnGuide.According to FnGuide on July 25, market caps swelled by 3.05 percent to 1,341.2603 trillion won (US$1.0533658 trillion) as of the clo
HD HHI and Hanwha Ocean, two arch-rivals in the Korean defense industry, are set to go head-to-head to take an 80 trillion won (US$62 billion) Canadian submarine project and a frigate order for the Korean Defense Acquisition Program Administration (DAPA).HD HHI and Hanwha Ocean are both gearing up t
Hanwha Ocean (formerly known as Daewoo Shipbuilding & Marine Engineering (DSME)) announced on Jan. 31 that three Russian clients have filed an arbitration with the Singapore International Arbitration Center, claiming damages worth 1.1599 trillion won (US$877.36 million).Hanwha Ocean had previously c
At an extraordinary general meeting held on the morning of May 23, Daewoo Shipbuilding & Marine Engineering (DSME) passed all agenda items, including the change of the company's name to “Hanwha Ocean Co., Ltd.,” the amendment of the articles of incorporation, and the appointment of nine new dire
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.DSME’s 1Q23 results fell below consensus due to both lower-than-expected sales and offshore plant costs. Short-term momentum is weak, but the firm’s mid/long-term profit growth direction remains vali
The author is an analyst for NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.In-house businesses have been reorganized into: construction, global, and momentum. The firm’s growth potential is rising on the expansion of its green energy/materials ventures and high-value a
Daewoo Shipbuilding & Marine Engineering (DSME), which has become an affiliate of Hanwha Group, will be reborn as Hanwha Ocean on May 23.DSME held an extraordinary board meeting on May 8 and decided to propose an amendment to its articles of incorporation including the change of its corporate name a
Hanwha Group has cleared the final hurdle to take over Daewoo Shipbuilding & Marine Engineering (DSME). It has been 15 years since Hanwha first attempted to acquire the Korean shipbuilder in 2008.The Korea Fair Trade Commission (KFTC) announced on April 27 that it has approved the merger in which fi
France’s GTT, which receives royalties for cargo holds for liquefied natural gas (LNG) carriers worth hundreds of billions of won built by Korean shipyards, recorded profit growth of over 20 percent in the first quarter of 2023. Despite receiving large-scale LNG carrier orders, Korean shipbuilders a
Hyundai Samho Heavy Industries, a subsidiary of HD Korea Shipbuilding & Offshore Engineering (KSOE), has received orders for 30 ships worth US$5.08 billion (approximately 6.75 trillion won) in just over three months this year. This is an amount that exceeds the company’s sales of 4.6464 trillion won
Competition is heating up between Daewoo Shipbuilding & Marine Engineering (DSME), which will become an affiliate of Hanwha Group later this month, and HD Hyundai Heavy Industries (HHI).On April 19, DSME submitted a request to the Korean Board of Audit and Inspection to audit whether there was any i
National Assemblyman Seo Il-joon of the People Power Party called for an immediate investigation into an alleged KDDX defense mafia case during the Moon Jae-in administration, citing the recent confirmation of the conviction of nine HD Hyundai employees who secretly stole military and trade secrets
Although Daewoo Shipbuilding & Marine Engineering (DSME) was sold off to Hanwha Group last year, approval from the Fair Trade Commission is being delayed due to opposition from a competitor which is not a foreign company but HD Hyundai Heavy Industries, a Korean company.After Hanwha Group reported t
The author is an analyst of Shinhan Securities. He can be reached atldh@sinhan.com -- Ed.1Q23 preview: Exports of K9 howitzers, merger of Hanwha MunitionsWe now expect Hanwha Aerospace to post sales of KRW1.76tr (+28% YoY), operating profit of KRW108.5bn (+63% YoY), and operating margin of 6.2% (+1.
The Korean shipbuilding industry is moving closer to achieving this year’s order-taking target based on stable orders. Korean shipbuilders are concentrating on boosting profitability by selectively winning orders for liquefied natural gas (LNG)-powered carriers, which are regarded as high-value ship
Hanwha Group and Poland are expected to expand their cooperation beyond military-related matters to the naval ship and space sectors.Hanwha officials explained the current status and a plan for defense cooperation between the two countries such as the K9 Self-propelled Howitzer and the Cheonmu Multi