▶ To collaborate on advanced ship operations and decarbonization retrofit solutions, and conduct joint research on Solid Oxide Fuel Cell(SOFC) systems ▶ Will expand Maersk’s integrated logistics services and strengthen global supply chains for affiliated companies ▶ Chung Kisun, “We will work on technological advancements to build a sustainable maritime logistics network.” HD Hyundai announced on Tuesday, May 6, that it recently had signed a Memorandum of Understanding (MOU) with the global shipping and logistics giant A.P. Moller - Maersk (Maersk) to establish a comprehensive partnership in the fields of decarbonized shipping technology development and global integrated logistics services. The signing ceremony, held at the HD Hyundai Global R&D Center (GRC) in Seongnam, Gyeonggi Province, was attended by key figures including HD Hyundai Executive Vice Chairman Chung Kisun and Maersk Chairman Robert Maersk Uggla, along with other relevant officials. Since 2021, HD Hyundai has won orders for a total of 19 methanol-powered container ships from Maersk. Last year, the company successfully delivered the world’s first methanol-powered ultra-large container ship, continuing its collaboration with Maersk in the field of decarbonization of shipbuilding and shipping industry. Through this MOU, Maersk will apply HD Hyundai's cutting-edge ship decarbonization technologies to its fleet to reduce carbon emissions, while HD Hyundai will apply Maersk’s integrated logistics services at a broader level across its subsidiaries to strengthen the global supply chain. Initially, the two companies will apply an advanced navigation solution “HiNAS”, developed by Avikus, a subsidiary of HD Hyundai, and an AI-based decarbonization and economic operation solution "OCEANWISE", developed by HD Hyundai Marine Solutions, to the Maersk container ships built and delivered by HD Hyundai Heavy Industries. They will then conduct a six-month pilot operation to verify the fuel savings and carbon reduction effects of the advanced navigation solution. They further plan to explore cooperation in the field of ship retrofitting for decarbonization, including optimizing engine efficiency, increasing container ship cargo capacity, and retrofitting dual-fuel propulsion systems and will also assess the feasibility of the solid oxide fuel cell (SOFC) system with the recently established HD Hydrogen. Moreover, HD Hyundai will strengthen its global supply chain by leveraging Maersk’s integrated logistics services. This includes expanding ocean freight volumes supported by Maersk’s ”East-West Network” and utilizing Maersk’s capabilities across airfreight services and land transportation, as well as warehousing infrastructure. The initial phase of the partnership will focus on providing tailored logistics solutions for HD Hyundai’s affiliates including HD Hyundai XiteSolution and HD Hyundai Marine Solution and will be gradually rolled out across other affiliates further enhancing the stability and agility of the company’s global supply chain. Chung Kisun of HD Hyundai stated, "Our collaboration with Maersk will serve as a leading example of innovation in the global logistics market by combining decarbonization shipping technologies with integrated logistics networks." He added, "We will rapidly advance the world’s best shipbuilding technologies with the goal of building a sustainable maritime logistics network that ensures safety, low-emissions, and optimal efficiency."  

▶ Chung Kisun, Executive Vice Chairman of HD Hyundai, welcomed Secretary John Phelan and discussed cooperation on Korea-US shipbuilding ▶ Boarded the advanced Aegis destroyer ‘Jeongjo the Great’ built by HD Hyundai Heavy Industries and visited the construction site of the No. 2 Aegis destroyer, ‘Dasan Jeong Yak-yong’, confirming shipbuilding capabilities of the global industry leader During his visit to South Korea, John Phelan, Secretary of the US Navy, visited HD Hyundai Heavy Industries to observe operations and capabilities of a global industry leader in shipbuilding and discussed potential cooperation between South Korea and the U.S. The newly confirmed U.S. Secretary of the Navy, John Phelan, visited HD Hyundai Heavy Industries’ Ulsan headquarters on Wednesday, April 30, HD Hyundai Heavy Industries shared.  Chung Kisun, Executive Vice Chairman of HD Hyundai, the parent company of HD Hyundai Heavy Industries, welcomed John Phelan in person and introduced the company’s world-class shipbuilding technologies. They also exchanged opinions on areas of cooperation between Korea and the United States. After touring the shipyard for commercial ships, John Phelan visited HD Hyundai Heavy Industries’ Naval & Special shipyard where state-of-the-art naval warships, including the world's most advanced Aegis destroyers, are built. Phelan boarded ‘Jeongjo the Great’ – built by HD Hyundai Heavy Industries and delivered to the Republic of Korea Navy last November – where the Captain introduced him to the outstanding performance and advanced operational capabilities of the world’s most advanced Aegis destroyer.  Secretary Phelan then looked around other major ships, including the No. 2 Aegis destroyer, ‘Dasan Jeong Yak-yong’ which is scheduled to be launched later this year. After the visit Secretary Phelan remarked, “Leveraging the expertise of these highly capable shipyards enables timely maintenance and repairs for our vessels to operate at peak performance.” Executive Vice Chairman Chung added, “The United States and South Korea share a friendship by blood and are the best of allies. With our advanced technologies and shipbuilding capabilities, we will support the country’s effort to revitalize the shipbuilding industry.” Earlier this month, the Trump administration signed an executive order to rebuild the U.S. shipbuilding industry and expressed its willingness to cooperate with allies. Meanwhile, HD Hyundai signed a memorandum of understanding with Huntington Ingalls, the largest U.S. defense shipyard, earlier this month with the goal to improve shipbuilding productivity and cooperate on advanced shipbuilding technologies. In addition, HD Hyundai Heavy Industries’ executives, including Joo Wonho, Head of the Naval & Special Ship business, visited Huntington Ingalls on April 22 to further discuss cooperation between the two parties.

▶ Sales reached 906.8 billion won, with an operating profit of 41.7 billion won, reflecting a decline compared to the previous year.   ▶ Tailored strategies for each region are in place... Continued growth noted in India and Brazil, with signs of demand recovery in China.   ▶ “Revamping portfolios and cutting costs to navigate unpredictable market conditions.” On Monday, April 28, HD Hyundai Construction Equipment published its first quarter results for 2025, reporting sales of 906.8 billion won and an operating profit of 41.7 billion won. While sales in key emerging markets, such as India and Brazil, have shown solid growth, the recovery in demand from developed markets has been slower than anticipated, leading to a 7.4% year-on-year decline in sales and a 22.3% drop in operating profit. Regionally, the company reported significant improvements in India, Brazil, and China. Sales in India and Brazil increased by 11% and 8%, respectively, influenced by government-led public infrastructure investments. In China, revenue saw an impressive 33% increase, driven by a combination of stimulus measures and equipment replacement cycles. As demand for products in emerging markets fluctuates in response to mineral resource prices, HD Hyundai Construction Equipment intends to boost its market share with customized sales strategies tailored to each country's needs.  In contrast, sales of new products in advanced markets have declined due to ongoing uncertainties associated with U.S. tariffs and fluctuating interest rates. However, the aftermarket (AM) business is experiencing stable growth, fueled by the demand for replacement parts for older equipment. “To navigate the uncertain market landscape, we plan to reorganize our product portfolio in developed markets by emphasizing high-margin equipment while focusing on maintaining profitability and minimizing costs,” stated an official from HD Hyundai Construction Equipment. “We are committed to strengthening our presence in key emerging markets such as India and Brazil, and we aim to enhance our global competitiveness through the development of next-generation models.”