▶ Signs a ‘financing partnership’ to secure top-tier financial competitiveness in Southeast Asian emerging markets.   ▶ Combines equipment supply chain and financial infrastructure to boost sales by 20% and better compete with Japanese and Chinese competitors.  ▶ Starts with Indonesia, Southeast Asia's largest market for machinery and finance in the region, and plans to expand to other emerging nations. HD Hyundai XiteSolution is ramping up its expansion into Southeast Asia through a newly established financing partnership with KB Financial Group, with an initial focus on Indonesia, the key market in the region.  The partnership, named “Financing Partnership for Southeast Asia Business Expansion,” between HD Hyundai XiteSolution and KB Financial Group, was officially announced on Friday, the 5th. This announcement followed a signing ceremony that took place at the HD Hyundai Global R&D Center the day before. Key attendees at the event included HD Hyundai XiteSolution President Cho Young-cheul, Head of Sales Strategy Division Song Hee-jun, Head of Finance Division Bae Yeon-joo, KB Financial Group Head of Global Business Division Lee Jae-keun, and KB Capital President Bin Jung-il. The collaboration aims to delve into strategic cooperative projects centered on emerging markets such as Indonesia, Thailand, Vietnam, and India. Southeast Asia is recognized as one of the top four global markets for construction machinery, along with Europe, North America, and China. Indonesia alone has an annual demand for around 20,000 units of construction equipment, which accounts for nearly half of Southeast Asia's total demand. With its robust economy and a population of 280 million, Indonesia's construction machinery market has seen an impressive growth rate of 13% annually since 2019. This partnership strives to alleviate the initial financial challenges faced by customers in emerging markets like Indonesia. HD Hyundai XiteSolution aims to enhance its competitiveness against Japanese and Chinese manufacturers, who currently hold significant market share due to their partnerships with domestic financial institutions. HD Hyundai XiteSolution seeks to optimize synergistic benefits by utilizing the economies of scale achieved through the collaboration of its esteemed construction equipment brands, "HYUNDAI" and "DEVELON." The company aims to better classify customer needs by using integrated data and sales expertise. Meanwhile, KB Financial Group will offer customized financial products, including vehicle installment plans, leases, and insurance options. Both companies will also strengthen their customer service networks and after-sales management systems by capitalizing on their respective dealer and financial networks. HD Hyundai XiteSolution aims to achieve top-tier financial competitiveness by integrating equipment supply chains with financial services. Their goal is to increase annual equipment sales in Indonesia—currently around 1,000 units—by over 20%.  HD Hyundai XiteSolution President Cho Young-cheul remarked, “To thrive in global competition, it's essential to offer not only quality products but also competitive financial solutions that cater to local markets.” He added, “This partnership will significantly enhance our operational edge in emerging markets.” Lee Jae-keun, Head of KB Financial Group’s Global Business Division, stated, “By leveraging our extensive financial expertise and closely collaborating with overseas construction equipment distribution networks, we anticipate creating a new financial ecosystem.” He noted, “We’re preparing various collaborative models across all countries where both companies operate, covering both emerging and developed markets.”  

▶ On September 4, Chung Kisun visited HD Hyundai Samho to inspect key sites and hold roundtable with safety leaders ▶ Conducted concurrent safety inspections across all affiliates, led by each CEO ▶ KRW 3.5 trillion to be invested by 2030 to expand “The Safe Care” system groupwide HD Hyundai’s top management, including Executive Vice Chairman Chung Kisun, reaffirmed their commitment to ‘Safety First’ management through on-site inspections of major business units. On September 4, HD Hyundai announced that all affiliates simultaneously conducted safety inspections, each personally led by their respective CEOs. Chung visited HD Hyundai Samho’s shipyard in Yeong-am, South Jeolla Province, where he toured major facilities and high-risk worksites alongside HD Hyundai Samho CEO Kim Jae-eul. He also held a roundtable with safety team leaders responsible for frontline safety operations. During the visit, Chung emphasized, “Safety is an irreplaceable value, and the company will always place the lives of our employees above all else.” He urged the management to take the lead, noting that “Leadership decisions and actions play a decisive role in shaping a strong safety culture. We must continue field-oriented management until we achieve zero serious industrial accidents at all worksites.” Safety has been embedded as a core value at HD Hyundai under the principle of “Safety for All.” Moving forward, the company plans to invest approximately KRW 3.5 trillion over the next five years in the shipbuilding sector to enhance safety by 2030. The company will establish advanced safety systems, maintain and expand safety facilities, and allocate sufficient funds to improve employee safety awareness and support partner companies’ safety initiatives, raising safety standards across all worksites. In addition, HD Hyundai will expand “The Safe Care”—the safety and health management system fully introduced at HD Hyundai Heavy Industries in August—across all affiliates. The core of this system is that if any of the nine ‘Never-to-Happen Accidents’ safety rules are violated, measures equivalent to those for a serious industrial accident are immediately enforced, regardless of whether an actual accident occurs. By enforcing this principle, HD Hyundai aims to achieve zero serious worksite accidents. Meanwhile, HD Hyundai is planning on hosting its HD Hyundai Safety Forum this November. The forum will bring together employees from across the group, government officials, and safety experts to share HD Hyundai’s safety vision and exchange best practices. Through this event, the company seeks to further raise safety awareness across the organization and reinforce the safety culture throughout the entire group.  

▶ HD Hyundai holds its first steel-cutting ceremony in the Philippines, attended by the president of the Philippines and the U.S. ambassador ▶ Targeting the bulk carrier and tanker markets, the shipyard aims to play a pivotal role in regaining the market share from China ▶ Will position as a strategic hub for the MASGA initiative, maximizing efficiency through collaboration with the company’s global bases ▶ “An optimal partner with abundant natural resources, skilled talent, and strong government support” — “Strengthening global competitiveness in shipbuilding orders” HD Korea Shipbuilding & Offshore Engineering (HD KSOE) builds on its overseas shipyard success in Vietnam, extending its global presence to the Philippines. HD KSOE, the intermediary holding company of HD Hyundai’s shipbuilding and offshore engineering division, announced on Tuesday, September 2, that it held a steel-cutting ceremony at HD Hyundai Philippines Shipyard (HD Hyundai Philippines) in Subic Bay, the Philippines, marking the commencement of construction of a 115,000-ton petrochemical carrier. This vessel is the first to be built by HD Hyundai Philippines and serves as the lead ship in a series of four petrochemical carriers ordered by an Asia-based shipping company in December last year. The steel-cutting ceremony marked the beginning of the shipbuilding process, symbolized by the cutting of the first steel plate. The ceremony was attended by Ferdinand Marcos Jr., President of the Philippines; MaryKay Carlson, U.S. Ambassador to the Philippines; Lee Sang-hwa, Korean Ambassador to the Philippines; and Kim Sung-joon, CEO of HD KSOE, who joined to celebrate the commencement of HD Hyundai Philippines’ first vessel construction. In May last year, HD KSOE signed a lease agreement with Cerberus Capital for part of the Subic shipyard site, officially launching the facility as the company’s second overseas shipyard. Since establishing HD Hyundai Vietnam Shipbuilding in Khanh Hoa Province in 1996, HD KSOE has expanded it into Southeast Asia’s largest shipyard, capable of constructing over 10 vessels each year. With domestic shipyards facing challenges in the bulk carrier and tanker markets due to intensifying competition from China, HD KSOE expects HD Hyundai Philippines to play a pivotal role in restoring competitiveness in this segment and reclaiming lost market share. HD Hyundai also aims to leverage HD Hyundai Philippines to strengthen economic and security cooperation among Korea, the United States, and the Philippines. Previously, in 2022, HD Hyundai Heavy Industries, a subsidiary of HD KSOE, established a logistics support center in the Philippines to provide MRO (maintenance, repair, and overhaul) services for frigates, patrol vessels, and other naval ships built and delivered to the Philippine government. Building on this experience and technological expertise, HD KSOE plans to establish a cooperative framework with the Philippine government and position HD Hyundai Philippines as another strategic hub for the MASGA (Make American Shipbuilding Great Again) project. The company also expects to maximize efficiency through collaboration with its key overseas bases. Strategically located near HD Hyundai Vietnam Shipbuilding, HD Hyundai Vina (tentative name), and an investment entity in Singapore (planned), HD Hyundai Philippines will be able to leverage a shared supply chain for blocks and ship tanks, as well as ensure integrated workforce operations. On August 27, HD Hyundai also announced plans to establish an investment entity in Singapore to oversee its overseas operations, including the management of production bases such as HD Hyundai Vietnam Shipbuilding, HD Hyundai Philippines, and HD Hyundai Vina. HD KSOE CEO Kim Sung-joon stated, “With strong government support, abundant natural advantages, and highly skilled human resources, the Philippines is emerging as a new shipbuilding powerhouse. By leveraging HD Hyundai Philippines, we will further strengthen our global competitiveness in securing new orders.” Earlier, on Monday, August 25, HD Hyundai signed a Memorandum of Understanding (MOU) with Cerberus Capital and Korea Development Bank to establish the Korea-U.S. Maritime Investment Partnership, marking the first collaboration since the launch of the MASGA initiative.