▶ Visited Davie Shipbuilding in Canada and emphasized excellence of Korean submarines and the country’s world-class shipbuilding capabilities ▶ Greeted executives from Canada’s Irving Shipbuilding and showcased advanced shipbuilding naval competence ▶ HD Hyundai proposed offset package, including trillion-won scale Canadian crude imports, shipbuilding technology transfer, and more HD Hyundai Heavy Industries, participating as a core member of the South Korean consortium to the Canadian Patrol Submarine Project (CPSP), is launching an all-out campaign to win the contract. HD Hyundai Heavy Industries announced today that the companies’ top executives met with counterparts from Canada’s Davie Shipbuilding at Davie’s Ottawa office on Tuesday, May 26 (local time) to discuss ways to deepen comprehensive cooperation in commercial and naval shipbuilding. The meeting was attended by Park Yong-yeol, Head of Naval Ship Division at HD Hyundai Heavy Industries, and James Davies, Chief Executive Officer (CEO) of Davie Shipbuilding, and other key officials. During the meeting, HD Hyundai Heavy Industries highlighted its unrivaled technological prowess as a global leader in the industry and introduced the excellence of Korean submarines. The two parties also engaged in in-depth discussions on collaborative paths that would contribute to the growth of the Canadian shipbuilding industry. Established in the early 19th century and located in Quebec, Davie Shipbuilding is Canada’s largest shipbuilder, with a diverse track record in building icebreakers, offshore plants, and naval auxiliary ships. Holding Finland’s Helsinki Shipyard as its subsidiary, the two companies are seeking further cooperation into a long-term strategic partnership spanning the Arctic market by combining HD Hyundai Heavy Industries’ advanced technologies with Davie’s local market presence. Furthermore, executives of HD Hyundai Heavy Industries, led by Joo Won-ho, President of HD Hyundai Heavy Industries and Head of Naval & Medium-size shipbuilding business unit visited Canada to give a final push to the bidding process. On Saturday, May 23 (local time), the delegation attended the welcoming ceremony for the ROKS Dosan Ahn Changho submarine at the Canadian Forces Base Esquimalt in Victoria, British Columbia, as well as the reception hosted by the Embassy of the Republic of Korea to Canada, actively promoting the excellence of Korean submarines to key local officials. Joo Won-ho, President of HD Hyundai Heavy Industries and Head of Naval & Medium-size shipbuilding business unit mentioned that “We are aligning our vision with Canada’s leading shipbuilders, including Davie Shipbuilding and Irving Shipbuilding, to share our mutual capabilities and expand our business horizons across the commercial and naval shipbuilding sectors,” and added, ”By taking the lead in maritime cooperation with Canada, we will spare no effort to ensure that 'Team K-Defense' secures the Canadian submarine project.” Key Canadian officials also paid a visit to HD Hyundai Heavy Industries facilities in Ulsan. In May, a senior delegation from Irving Shipbuilding, led by President Dirk Lesko, toured the Ulsan shipyard. During the visit, they witnessed HD Hyundai Heavy Industries’ advanced naval technologies and construction capabilities while discussing potential avenues for collaboration. Based in Nova Scotia, Irving Shipbuilding is one of three largest shipbuilders in Canada which plays a pivotal role in building vessels for the Royal Canadian Navy. Meanwhile, in January, HD Hyundai proposed a multi-trillion won offset cooperation package, which will play a crucial role in securing the Canadian submarine contract. In the energy sector, centered around HD Hyundai Oilbank, the group laid out a plan to import trillions of won worth of crude oil from Canadian energy suppliers. In the shipbuilding sector, HD Hyundai offered to transfer its commercial and naval shipbuilding expertise to local Canadian shipyards, while also providing comprehensive consultation services for submarine operations and maintenance. 

▶ Vitaliy Kim, Governor of Ukraine’s Mykolaiv Oblast, visits HD Hyundai GRC ▶ MOU establishes a long-term framework for full-scale reconstruction ▶ Partnership broadens to include equipment supply, training, financing, and energy infrastructure     HD Hyundai is expanding its partnership with Ukraine’s Mykolaiv Oblast, moving beyond equipment support to drive comprehensive, long-term reconstruction efforts across the region. HD Construction Equipment announced on Friday, May 22, that it signed a Memorandum of Understanding (MOU) for the "Ukraine Reconstruction Project" with the Mykolaiv provincial government. The signing took place on May 21 at the HD Hyundai Global R&D Center (GRC) in Pangyo, South Korea. Key attendees included Mykolaiv Governor Vitaliy Kim, HD Hyundai Vice Chairman Cho Young-cheul, and HD Construction Equipment CEO Moon Jae-young. Building significantly upon the 2023 equipment and training partnership, the new MOU scales up cooperation to cover the entire reconstruction process across five key areas: ▲equipment supply, ▲local training centers, ▲maintenance and service support, ▲financing frameworks, and ▲energy infrastructure recovery. HD Construction Equipment has been actively involved in Ukraine’s post-war recovery.  Cooperation gained momentum in 2023 when Vasyl Shkurakov, Ukraine’s First Deputy Minister of Infrastructure, visited the company's Ulsan Campus. Later that year, HD Hyundai donated five pieces of heavy machinery, including excavators and forklifts, to Mykolaiv. These machines are currently being used for emergency repairs and infrastructure restoration. To deepen its local footprint, the company opened a Kyiv branch in 2024 and hosted training programs for officials from Ukraine's Ministry for Development of Communities and Territories. Since then, the partnership has evolved from simply supplying machinery to cultivating local talent and operational frameworks, with ongoing talks to establish dedicated training centers and vocational programs Looking ahead, HD Hyundai plans to launch a group-wide, integrated reconstruction model that combines its expertise in both heavy machinery and energy infrastructure. “We want to build a partnership that goes beyond just supplying machinery to make a real, lasting impact on Ukraine's recovery," said Cho Young-cheul, Vice Chairman of HD Hyundai. "By leveraging our expertise in construction equipment and energy, we will actively support local infrastructure recovery and stabilization." Governor Vitaliy Kim added, "This agreement is a major milestone for the systematic rebuilding of Mykolaiv Oblast. It will be a driving force for restoring our infrastructure, energy sectors, and communities. We are deeply grateful to HD Hyundai and South Korea for their ongoing support and long-term partnership."

▶ Signed Agreement to establish Natrium reactor supply chain for serial production based on a year-long joint study ▶ HD Hyundai selected as a preferred manufacturer to supply Natrium Reactor Enclosure System (RES) components leveraging its world-class fabrication capabilities, industrial production expertise, and extensive experience HD Hyundai has moved one step closer to the commercialization of next-generation nuclear reactors. HD Hyundai announced that its shipbuilding subsidiary, HD Hyundai Heavy Industries, recently signed a Natrium Reactor Supply Framework Agreement (FA) with a nuclear innovation company, TerraPower. The signing ceremony was attended by Kwang-shik Won, Senior Executive Vice President and COO of HD Hyundai Heavy Industries, Chris Levesque, President and CEO of TerraPower, and other key officials. Under the agreement, HD Hyundai Heavy Industries has been selected as a preferred manufacturer for Natrium Reactor Enclosure System (RES) components, leveraging its superior fabrication capabilities, technical expertise, and extensive track record. Building on the successful production of the First-of-a-Kind (FOAK) production, both companies plan to expand their business collaboration to the Nth-of-a-Kind (NOAK) serial manufacturing. This agreement is an extension of the "Strategic Agreement for Manufacturing Supply Chain Expansion for the Commercialization of Natrium Reactors" signed in March of last year. Over the past year, the two companies have conducted a joint study to evaluate the manufacturing feasibility, cost competitiveness, and delivery schedules for the Natrium reactor. The Natrium reactor is a fourth-generation Sodium-Cooled Fast Reactor (SFR) developed by TerraPower, and it is widely regarded as having the highest level of safety and technical maturity among existing nuclear technologies. TerraPower has identified the establishment of a stable RES supply chain as a critical priority for the rapid buildout of Natrium plants. Kwang-shik Won, Senior Executive Vice President and Head of the Offshore & Energy Division at HD Hyundai Heavy Industries, stated, "This Framework Agreement not only strengthens our strategic collaboration with TerraPower but also serves as a critical foundation for our entry into the global nuclear market." He added, "Through our joint research, we will strive to ensure the timely supply of Natrium reactor equipment and establish a serial production base to secure a formidable global competitive edge." Chris Levesque, President and CEO of TerraPower said, “Establishing a Framework Agreement with HD Hyundai ensures that we have the production capacity available to support our commercialization plans and build Natrium plants across the U.S. and around the world,” and added, “HD Hyundai’s manufacturing expertise and commitment to continuous improvement give us confidence in our ability to deliver resilient, reliable and affordable nuclear energy for our customers at scale.” Meanwhile, HD Hyundai also signed a tripartite Memorandum of Understanding (MOU) with TerraPower and Hyundai Engineering & Construction (HDEC) on the same day for cooperation on next-generation nuclear power projects. Through this MOU, HD Hyundai plans to work alongside HDEC to establish a robust foundation for Engineering, Procurement, and Construction (EPC) execution and the supply of major equipment, enabling an aggressive response to the global next-generation nuclear power market, including the U.S.