HHI Sets Aside USD 1.8 Billion to Develop Green Smart Ships

Image Courtesy: HHI

South Korea’s Hyundai Heavy Industries (HHI) Group plans to invest USD 1.8 billion in research and development (R&D) programs by 2021 through its newly established independent shipbuilding company – Hyundai Heavy Industries.

Under the plan, the new HHI will invest in developing eco-friendly and smart ships, enhancing offshore engineering capability, and establishing smart shipyards.

For quality enhancement of its products and services, HHI will set up lessons-learned database by accumulating engineering failure cases.

In the longer-term, HHI Group plans to spend 6-7% as a percentage of annual sales in R&D.

HHI Group has split up its businesses into four different companies: HHI; Hyundai Electric & Energy Systems; Hyundai Construction Equipment; and Hyundai Robotics.

The four companies will appoint chief technology officers in charge of driving product development, drafting technology strategy, and nurturing human resources, and expand numbers of researchers to 10,000 from current 4,000.

At a tree planting ceremony at HHI’s Ulsan shipyard to commemorate HHI Group’s rebirth, vice chairman & CEO of HHI Kwon Oh-gap, said: “As today marks new chapter in our history, the three newly established companies will make utmost efforts to rank the global top 5 in their respective fields by making quality and technology top priorities.”

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Shipping2030 Asia

This year Shipping2030 Asia will take place with Global Liner Shipping conference, offering attendees unique access to networking with the container shipping industry…

read more >

Indonesia Marine & Offshore Expo (IMOX) 2017

Indonesia Marine & Offshore Expo (IMOX) 2017, Batamis an international maritime and offshore industrial event that brings an international…

read more >

Salvage & Wreck Asia

Could your business be affected by shipwreck? Are you a salvage professional or a wreck removal expert? …

read more >

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >