▶ Scheduled overhaul of the 41,000-ton dry cargo and ammunition ship Alan Shepard of the U.S. 7th Fleet ▶ MRO to be conducted at berth near HD Hyundai Mipo in Ulsan; delivery scheduled for November 2025 ▶ “Marking the first MRO contract since South Korea’s MASGA proposal, we are dedicated to ensuring its successful completion.” HD Hyundai Heavy Industries has secured a contract for the maintenance, repair, and overhaul (MRO) of a U.S. Navy auxiliary ship — marking the first since the Korean government’s “Make American Shipbuilding Great Again (MASGA)” proposal. HD Hyundai Heavy Industries announced on Wednesday, August 6, that it recently won the scheduled overhaul project for the USNS Alan Shepard, a 41,000-ton dry cargo and ammunition ship assigned to the U.S. Navy’s 7th Fleet. The USNS Alan Shepard, measuring 210 meters in length, 32 meters in beam, and 9.4 meters in depth, entered service in 2007 and was named after Alan Shepard, a Rear Admiral and the first American astronaut to travel into space. Starting in September, HD Hyundai Heavy Industries will carry out the overhaul at a berth near HD Hyundai Mipo in Ulsan. The work scope includes propeller cleaning, maintenance of various tanks, and inspection of onboard equipment. Upon completion, the vessel is scheduled to be delivered to the U.S. Navy in November 2025. Joo Won-ho, Head of HD Hyundai Heavy Industries’ Naval & Special Ship Business Unit, said, “This MRO contract is highly significant as it marks the first contract following the Government’s proposal of the Korea-U.S. shipbuilding cooperation initiative, MASGA. As Korea’s leading shipbuilder, we will spare no effort in successfully completing the MRO for the U.S. Navy’s auxiliary ship.” This year, HD Hyundai has advanced multiple initiatives to further reinforce Korea-U.S. cooperation in shipbuilding. In April, the company signed a strategic partnership agreement with Huntington Ingalls Industries (HII), the largest defense shipbuilder in the United States, for technological cooperation and joint construction in the naval ship sector. In June, the company launched a strategic collaboration with U.S. shipbuilding group Edison Chouest Offshore (ECO) in the commercial ship sector. Later that month, HD Hyundai hosted the Korea-U.S. Shipbuilding Leaders Forum, bringing together over forty U.S. shipbuilding and marine engineering specialists from institutions such as the University of Michigan and MIT.

▶ Sales reached 967.7 billion won, marking a 13% increase year on year, with an operating profit of 40 billion won. ▶ Sales growth driven by increased demand in emerging markets and China; advanced markets also showing signs of recovery ▶ “We will expand sales through region-specific customized portfolios.” HD Hyundai Construction Equipment announced on Thursday, July 24, that it recorded sales of 967.7 billion won and an operating profit of 40 billion won for the second quarter of 2025. Sales increased by 13.4% year-on-year, driven by growth in emerging markets due to demand for resource and infrastructure development, as well as the recovery of the Chinese market. However, operating profit decreased by 31.6% due to one-time costs of 21.3 billion won related to the restructuring of operations in China announced in April. By region, there were notable growth trends in emerging markets, recovery in China, and robust demand in India. Advanced markets also showed signs of recovery, particularly in several European countries, including the UK and Italy, indicating a potential global market rebound. In emerging markets such as Africa, the Middle East, and Indonesia, sales increased by 32% year-on-year, driven by growing demand for mining and infrastructure development. China recorded a remarkable 77% increase in sales year-on-year, thanks to domestic demand stimulus policies and increased exports resulting from higher overseas orders.  India maintained steady demand due to ongoing infrastructure investment, with sales remaining on par with last year. In Brazil, sales experienced a decline due to external factors such as interest rate hikes; however, sales are expected to rebound in the second half of the year with the launch of new HX excavators and the expansion of purchase support programs.  In advanced markets, sales increased by 23% in North America and by 5% in Europe compared to the previous quarter, indicating signs of recovery alongside stabilizing demand trends. HD Hyundai Construction Equipment aims to boost sales in advanced markets during the second half of the year. The company plans to strengthen its sales channels and improve its product mix by expanding sales of articulated dump trucks (ADTs) and launching new models of skid steer loaders and compact track loaders. An official from HD Hyundai Construction Equipment stated, “As the construction machinery market is expected to recover after reaching its lowest point this year, we will expand sales through region-specific customized portfolios. We will also continue to strengthen our position in emerging markets and secure profitability by leveraging our global production bases.”  

▶ Top executives from Edison Chouest Offshore visits HD Hyundai to discuss broad-ranging collaboration, including joint shipbuilding initiatives ▶ U.S. engineers join as delegates to observe Korea’s design and production processes — facilitating the transfer of world-class shipbuilding expertise ▶ Chung Kisun, Executive Vice Chairman of HD Hyundai: “This joint initiative will become a milestone in Korea-U.S. shipbuilding cooperation” HD Hyundai is officially beginning its on-site initiatives for joint shipbuilding operations in the United States. HD Hyundai announced on Wednesday, July 23rd that a delegation from its U.S. shipbuilding partner, Edison Chouest Offshore (ECO), visited Korea to discuss detailed plans for the joint construction of container vessels in the United States. Led by CEO Dino Chouest, a delegation of more than 10 key executives and engineers from ECO visited Korea from Tuesday, July 22nd to Wednesday, July 23rd. During their two-day visit, the delegation toured HD Hyundai’s Global R&D Center, HD Hyundai Heavy Industries’ and HD Hyundai Mipo’s Dockyard to witness firsthand the technological capabilities and shipbuilding expertise of the world’s leading shipbuilder. Earlier in June, the two companies signed an exclusive Memorandum of Understanding (MOU) for a strategic and comprehensive partnership, agreeing to jointly build medium-sized container vessels at ECO’s shipyard by 2028. They also committed to expanding the scope of cooperation beyond ship types to include port cranes—a sector with heightened security considerations. HD Hyundai also dispatched a team of more than ten experts to ECO’s shipyard last month to inspect production systems and facilities, while also providing consultation to enhance productivity. On the first day of their visit, Tuesday, July 22nd, the ECO delegation visited HD Hyundai’s Global R&D Center located in Gyeonggi, Korea. After receiving a briefing on HD Hyundai’s cutting-edge technologies and shipbuilding capabilities, they toured the Digital Insight Center to observe the operational status of HD Hyundai-built vessels currently in service around the world. The delegation then visited the site where automation solutions were developed and discussed its practical application along with robotic welding technologies at shipyards. This was based on a shared understanding that to expand joint shipbuilding efforts in the U.S., strengthening local infrastructure and enhancing production capabilities will be necessary. A meeting was also held between the top executives of both companies. During the discussion, Chung Kisun, Executive Vice Chairman of HD Hyundai, and Chouest agreed to expand their partnership beyond joint construction of container vessels and explore future business opportunities together. Chung shared that “HD Hyundai fully supports efforts to revitalize the U.S. shipbuilding industry,” and added “the joint shipbuilding project between the two companies in the United States will serve as an excellent example of Korea-U.S. cooperation in the shipbuilding sector.” On the second day of their visit, Wednesday, July 23rd, the ECO delegation traveled to Ulsan to tour shipyards at HD Hyundai Heavy Industries and HD Hyundai Mipo. They observed shipbuilding sites, boarded large container vessels, and closely examined HD Hyundai’s design and production processes, dock operation and management methods, as well as its automation systems. The engineers from ECO, who accompanied the delegation to Korea, will remain for another week to learn advanced shipbuilding techniques and participate in a technical exchange workshop where they will discuss detailed plans for joint shipbuilding. Meanwhile, ECO is a U.S.-based shipbuilding group that operates eighteen commercial shipyards across the country. The company has built and currently operates a fleet of 300 Offshore Support Vessels (OSVs), demonstrating its world-class competitiveness in the OSV sector.