- Published 2026.10.23 11:56
Plans to build new shipyard in the United States
Trillion-won investment expansion under discussion
HD Korea Shipbuilding & Offshore Engineering has signed an agreement with US-based Kiewit to establish a joint venture, HD Kiewit Shipbuilding.
HD Korea Shipbuilding & Offshore Engineering said in a disclosure filed with the DART (electronic disclosure system) on Oct. 23 that it was responding to a report by the Korea Economic Daily and others that day titled "HD Hyundai to set up block factory in US, pursue shipyard construction."
The company said it has been in discussions with Kiewit Offshore Service since signing a strategic partnership for shipbuilding business cooperation in July 2026.
It added that its subsidiary HD Hyundai USA and Kiewit signed the joint venture establishment agreement in Houston on Oct. 22, 2026.
The two companies agreed to build a new shipyard equipped with advanced smart technologies through the joint venture.
Through this, they plan to expand shipbuilding capacity in the United States and contribute to the rebuilding of the US shipbuilding industry.
However, the company drew a line on the report's mention of plans to expand project investment to the trillion-won level through a capital increase, saying that nothing has been decided yet as discussions are still ongoing.
The company said it will disclose again when specific details are confirmed or within one month. The scheduled date for the follow-up disclosure is Nov. 20.
※ This article is an AI translation of the Korean original published by Korea Credit News; it was checked by automated quality guards and published by the English edition desk.
