Maritime and Offshore from Finland -growth program, Maritime Business Day seminar on 26.4.2016, Helsinki, Finland

1. Maritime Offshore Market Snapshot
South-Korea

2. Index
1. Major shipyards, vessel types, business potential
2. Main ship design & engineering companies, concept design companies EPC’s
3. Major marine engine, propulsion and machinery manufacturers, major machine workshops
4. Major Marine dealers, agents, consultants
5. Big Turn Key Contractors
6. Shipbuilding Associations
7. Shipowners
8. Oil and Gas companies
9. Big Projects
5/4/2016 © Finpro2

3. 1. Top Korean shipyards (Summary)
• As of 2013 Korea had some 80 shipbuilding companies. From these only nine (9) are major
ones. From these three (3) are major global companies taking vast majority of the business.
• Number of shipbuilding companies have been reducing due to difficult economic conditions.
• Shipbuilding accounts for about 10% of Korean exports an 2% of value added.
• Big majority of Koran shipbuilding companies are private (not listed).
• Ownership structures are, in some cases, very complex and sister companies often spread
outside of shipbuilding.
• In 2015-2016 major shipbuilders have started to spin-off or sell non-core assets as response
to difficult market conditions.
• Korean shipbuilders have significant portion of high-value and large vessel orders globally.
• Before 2010, all top-3 Korean shipbuilders ventured to high-margin offshore business, which
turned unprofitable and finally brought heavy loses in 2015.
• Year 2015 was difficult for shipbuilders globally, Koreans were not an exception.
• Korean Shipbuilders’ experienced reduced sales of 20-30% through shipbuilding operations
and in some cases 70% in offshore business.
5/4/2016 © Finpro3

4. 1. Top Korean shipyards (Top 15)
Name Shipyard size Employees
1. Hyundai Heavy Industries Co., Ltd.(HHI) 6,081,000m2 63,000 N
2. Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) 4,900,000m2 39,000 N
3. Samsung Heavy Industries Co., Ltd. 4,000,000m2 28,000 N
4. Hyundai Samho Heavy Industries Co., Ltd.(HSHI) 3,300,000m2 12,619 N
5. Hanjin Heavy Industries Co., Ltd. – SUBIC 2,739,000m2 N/A N, R
6. Hyundai Heavy Industries Co., Ltd. (Gunsan) 2,098,000m2 3,750 N
7. Sungdong Shipbuilding & Marine Engineering Co., Ltd. 1,944,000m2 8,000 N
8. Hyundai-Vinashin Shipyard Co., Ltd. 1,000,000m2 5,000 N
9. STX Offshore & Shipbuilding Co., Ltd. 1,000,000m2 2,819 N
10. Hyundai Mipo Dockyard Co., Ltd. 716,955m2 13,509 N
11. SPP Shipbuilding Co., Ltd. (Sacheon) 310,000m2 2,800 N
12. Daehan Shipbuilding Co., Ltd. (DHSC) (DSME affiliate) 278,000m2 3,000 N
13. Hanjin Heavy Industries Co., Ltd. – Yeongdo 264,000m2 N/A N, R
14. Dae Sun Shipbuilding & Engineering Co., Ltd. 206,834m2 2,131 N, R
15. SPP Shipbuilding Co., Ltd. (Goseong) 100,000m2 1,500 N
5/4/2016 © Finpro4

5. 1. Top Korean shipyards (List of 37)
1. Dae Sun Shipbuilding & Engineering
Co., Ltd.
2. Daehan Shipbuilding Co., Ltd.
(DHSC)
3. Daewoo Shipbuilding & Marine
Engineering Co., Ltd. (DSME)
4. Hanjin Heavy Industries Co., Ltd. -
SUBIC
5. Hanjin Heavy Industries Co., Ltd. -
Yeongdo
6. Hyundai Heavy Industries Co.,
Ltd.(HHI)
7. Hyundai Heavy Industries Co., Ltd.
(Gunsan)
8. Hyundai Mipo Dockyard Co., Ltd.
9. Hyundai Samho Heavy Industries
Co., Ltd.(HSHI)
10. Hyundai-Vinashin Shipyard Co., Ltd.
11. Samsung Heavy Industries Co., Ltd.
12. SPP Shipbuilding Co., Ltd. (Goseong)
13. SPP Shipbuilding Co., Ltd. (Sacheon)
14. STX Offshore & Shipbuilding Co.,
Ltd.
15. Sungdong Shipbuilding & Marine
Engineering Co., Ltd.
16. Asia Shipbuilding Co., Ltd.
17. Baikal Shipyard Co., Ltd.
18. Bugwang Shipyard Co., Ltd.
19. Chonhaiji S.B. Co., Ltd.
20. No.Dongbang Shipyard Co., Ltd.
21. Dongil Shipyard Co., Ltd.
22. Geumgang Shipbuilding Co., Ltd.
23. HK Shipbuilding Co., Ltd.(HKS)
24. Hyundai Engineering & Steel
Industries Co., Ltd.
25. J Y Dockyard Co., Ltd.
26. Jangbogo Shipyard Co., Ltd.
27. K.S Yanase Industries Co., Ltd.
28. Korea Yanase TongYeong
Shipbuilding Co., Ltd
29. Master Marine Yachtbuilding Co.,
Ltd.
30. Moonchang Shipbuilding Dockyard.
Ltd.
31. Orient Shipyard Co., Ltd.
32. Samho I&D Co., Ltd.(Nanpo
Shipyard)
33. Samkwang Shipbuilding &
Engineering Co., Ltd.
34. Shinan Heavy Industries Co., Ltd.
(SHICO)
35. Yeosu Ocean Co., Ltd.
36. YeunSoo Shipbuilding Co., Ltd. (YSS)
37. Yudal Shipbuilding Co., Ltd.
5/4/2016 © Finpro5

6. 1. Top Korean shipyards (Locations)
5/4/2016 © Finpro6
Seoul
Busan
Busan
Ulsan
Gojae
HHI
HMD
SHI
DSME
HHIC
DAE SUN
STX
HHI Gunsan
HSHI
DHSC
SUNGDONG
SPP

7. Hyundai Heavy Industries Co., Ltd.
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Web-site www.hyundaiheavy.com
Location Ulsan – South-Korea (Gundan and Vinashin Shipyard)
Ownership Chung Mong-joon (10%), Korean Pension Service (4.7%), KCC 4%)
Type of ships
Container Ship , Tankers/Product Carriers, Shuttle Tankers, Bulk Carriers, LNG Carriers/FSRUs,
LPG Carriers, Drillships/Drill Rigs, Ropax Pure Car Carriers, OBO Carriers, Naval Ships, Offshore
Support Vessels
Company
information
Established 1972
Contact information N/A – Too complex to describe here
Business potential
for Finnish suppliers
All main ship parts; main equipment and machinery, major electronic equipment, navigation
systems, propulsion and engines.
Ship building
Industrial plant &
Engineering
Engine &
Machinery
Electro Electric
systems
Green Energy
Construction
Equipment
Offshore &
Engineering

8. Daewoo Shipbuilding & Marine Engineering
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Web-site http://www.samsungshi.com/
Location Gojae Island – South-Korea
Ownership
KDB – Korea Development Bank (49.7%), Financial Supervisory Commission (12.2%), Minority
shareholders (48.71%)
Type of ships
FPSOs, FPUs, LNG&LPG Carriers, Ro-Paxs, TIVs (Turbine Installation Vessels), Drillships, LNG
RVs, FSRUs, Crude Oil tankers, Product carriers,
Semi –Submersible Rigs, LNG FPSOs (FLNGs), Submarines, Fixed Platforms, Containerships/
PCTCs, Bulk carriers, Destroyers/Battleships, Chemical Tankers/Shuttle Tankers
Company
information
Established 1973
Contact information N/A – Too complex to describe here
Business potential
for Finnish suppliers
All main ship parts; main equipment and machinery, major electronic equipment, navigation
systems, propulsion and engines.
Ship building &
Offshore
EnergyPlant

9. Samsung Heavy Industries Co., Ltd.
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Web-site http://www.samsungshi.com/
Location Gojae Island – South-Korea
Ownership
Samsung Electronics (17.6%), Samsung Life Insurance (3.4%), Samsung Electric (2.4%), Samsug
SDI (1.4%)
Type of ships
Drillships, Semi-Submersible Rigs, LNG RV/FSRUs, Shuttle Tankers, FPSOs/FSOs, FSUs,
FPUs/TLPs, LNGCs, Chemical tankers, Industrial Vessels (FDS) Platforms, Crude Oil tankers,
Containers, WTIVs, LNG-FPSOs, Product carriers
Company
information
Established 1974
Contact information N/A – Too complex to describe here
Business potential
for Finnish suppliers
All main ship parts; main equipment and machinery, major electronic equipment, navigation
systems, propulsion and engines.
Ship building
Technology
development
Machinery &
Electric system

10. Hyundai Samho Heavy Industries Co., Ltd.
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Web-site http://www.hshi.co.kr/
Location Mokpo – South-Korea
Ownership HHI (over 94.92%)
Type of ships
Tankers, VLCC, Product Carriers, Chemical Tankers, Container Ships, LNG/LPG Carriers, Ro-Ro
Ships, PCTCs, FPSOs/FPUs, Drillships, S/S Rigs Bulk Carriers,, Other Vessels
Company
information
Established 1992
Contact information N/A – Too complex to describe here
Business potential
for Finnish suppliers
All main ship parts; main equipment and machinery, major electronic equipment, navigation
systems, propulsion and engines.
Ship building
Ocean &
Instruments
Crane & Bulk
Handling
Product R&D

11. HANJIN HEAVY INDUSTRIES CO., LTD.
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Web-site http://www.hanjinsc.com/
Location Busan – South-Korea
Ownership Cho Nam-ho (46.50%), Shinyoung Asset Management (6.11%)
Type of ships
Container Carriers, Product Carriers, Chemical Carriers, Crude Carriers, Oil Tankers, LNG/LPG
Carriers, Cable Ships, Supply Boats, Semi-Submersible Drilling Rigs, Dredgers, Naval Ships,
Special Purpose Ships, Bulk Carriers, Ice Breakers
Company
information
Established 1937
Contact information N/A – Too complex to describe here
Business potential
for Finnish suppliers
All main ship parts; main equipment and machinery, major electronic equipment, navigation
systems, propulsion and engines. Arctic solutions and Icebreaker solutions.
Ship building EnergyPower & Heating Construction

12. SUNGDONG Shipbuilding & Marine Engineering
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Web-site http://www.isungdong.com/
Location Tongyeong – South-Korea
Ownership N/A
Type of ships
FSOs, Containerships, Shuttle tankers, Product carriers, Crude oil tankers, Bulk carriers, Purse
seiners
Company
information
Established 2001
Contact information N/A – Too complex to describe here
Business potential
for Finnish suppliers
Solutions especially for mid-size commercial vessels, deep-sea fishing vessels and specialty
vessels.
Ship building

13. STX Offshore & Shipbuilding CO., LTD.
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Web-site http://www.stxons.com/
Location Jinhae – South-Korea
Ownership
Korea Development Bank (39.59%), Woori bank (14.97%) NH Bank (10.07%), Shinhan Bank
(5.92%)
Type of ships
Tankers, Product Carriers, Chemical Tankers, LNG Carriers, LPG Carriers, Container Ships, Bulk
Carriers, Floating Storage & Production, Naval Ships
Company
information
Established 1967
Contact information N/A – Too complex to describe here
Business potential
for Finnish suppliers
All main ship parts; main equipment and machinery, major electronic equipment, navigation
systems, propulsion and engines. – HEAVY FINANCIAL ISSUES!
Ship building Offshore

14. Hyundai Mipo Dockyard Co., Ltd.
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Web-site http://www.hmd.co.kr/
Location Ulsan – South-Korea
Ownership
Hyundai Samho Heavy Industries (over 43.51%), Saudi Arabia Monetary Agency (7.26%),
Minority shareholders (45.19%)
Type of ships
Tankers, Containerships, FPSOs/FPUs, VLCCs, LNG Carriers, Drillships, Product Carriers, LPG
Carriers, SS Rigs, Chemical Tankers, Ro-Ro Ships/PCTCs, Bulk Carriers, Other Vessels
Company
information
Established 1992
Contact information N/A – Too complex to describe here
Business potential
for Finnish suppliers
All main ship parts; main equipment and machinery, major electronic equipment, navigation
systems, propulsion and engines.
Ship building

15. SPP SHIPBUILDING CO., LTD.
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Web-site http://eng.sppship.co.kr/
Location Sacheon – South-Korea (Goseong shipyard & Tongyoung plant)
Ownership N/A
Type of ships Bulk Carriers, Product Carriers, Container Ships, Gas Carrires, AHTS / PSVs
Company
information
Established 2002
Contact information N/A – Too complex to describe here
Business potential
for Finnish suppliers
Solutions especially for mid-size commercial vessels, deep-sea fishing vessels and specialty
vessels.
Ship building
Block
manufacturin

16. Dae Sun Shipbuilding & Engineering Co., Ltd
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Web-site http://www.daesuns.co.kr/
Location Busan – South-Korea
Ownership Korea EXIM Bank (67.27%), Ahn Kang Teh (18.90%), Minority shareholders (9.88%)
Type of ships
Containerships (1,000 ~ 2,500 TEU), Tankers (12 ~ 75 K DWT), Bulk carriers (35 ~ 62 K DWT),
Other vessels (Special Purpose), Landing platform dock ships, LPG carriers (3.5 ~ 12 k CBM) -
Nuclear waste vessels – OSVs
Company
information
Established 1945
Contact information N/A – Too complex to describe here
Business potential
for Finnish suppliers
All main ship parts; main equipment and machinery, major electronic equipment, navigation
systems, propulsion and engines.
Ship building R&DShip Equipment

17. ShinaSB Yard Co., Ltd.
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Web-site http://www.shinasb.co.kr/
Location Tongyoung – South-Korea
Ownership N/A
Type of ships Tankers, RoRo Vessels, Bulk Carriers, Container Carriers
Company
information
Established 1946
Contact information N/A – Too complex to describe here
Business potential
for Finnish suppliers
All main ship parts; main equipment and machinery, major electronic equipment, navigation
systems, propulsion and engines.
Ship building

18. 2. Main ship design & engineering
companies, concept design companies, EPC’s
• No concept design companies in Korea.
• No detailed design companies in Korea.
(HHI and SHI are trying to imporve this capability).
• Only production design companies present in Korea.
• HHI design division – Production design
• SHI design division – Production design
• Samsung Engineering – Plant design, mainly onshore, is trying to improve offshore.
• Hyundai Engineering – Plant design, mainly onshore, is trying to improve offshore.
• Technip Korea only supports and handles admin. Each shipyard has technip office in
their production sites.
• For example Keppel, Aker Solutions, Krylov institute, Rubin.
• what is company’s focus?
5/4/2016 © Finpro18

19. 3. Major marine engine, propulsion and
machinery manufacturers, major machine
workshops
• Engines
– Wärtsilä-Hyundai Co., Ltd. www.wartsila-hyundai.com
Older Wärtsilä engines; 50DF
– Doosan Engine Co., Ltd. www.doosanengine.com
Marine diesel engines, diesel power plants, engine parts, green systems
– STX Engine Co., Ltd. (financial troubles) www.stxengine.co.kr
Marine diesel engines, military diesel, communication equip., power plant, engine parts, gas trubine etc.
– Hyundai Engine Co., Ltd. (HHI Division) www.hhi.co.kr
World’s biggest engine maker. Also propellers, cargo oil pumps, ballast water treatment systems, and side thrusters.
– Wärtsilä (service and training) www.wartsila.com
– Man Engines dieselturbo.man.eu
Marine engines & systems, service, compressors, steam & gas turbines
– Rolls Royce www.rolls-royce.com
Gas trubines and naval engines
5/4/2016 © Finpro19

20. 4. Major Marine dealers, agents, consultants
• Several Marine Equipment manufacturing companies distribute competing western
equipment. These are usually for cases where western company is on buyer’s maker
list and Korean manufacturer isn’t.
• Hanshin– System Integrator - Vaisala www.ehanshin.co.kr
• Daeyang Electric – Electronics www.daeyang.co.kr
• Jaitek – UPM, Metos, Marioff, KONE, Lautex www.jeitek.co.kr
• Sam Young ENC. – www.samyungenc.com
• Sang Myung Trading Co., Ltd. – Helkama Bica N/A
• C&A Electric – Trafotec marine.cnae.co.kr
• Unitech Service – Steerprop, TEVO www.unitechservice.kr
5/4/2016 © Finpro20

21. 5. Big Turn Key Contractors
• Machinery
– HYUNDAI MARINE MACHINERY CO.,LTD. [Incinerator Plant] www.hmmco.co.kr
– BY Controls, INC. [General & Control valve] www.bycontrols.com
– DOOSAN ENGINE CO., LTD. [F.W Generator, Heat Exchanger] www.doosanengine.com
– KC.LTD. [MGPS] www.iccp-mgps.com
– DOOSAN ENGINE CO., LTD. [Main Engine] www.doosanengine.com
– LHE CO.,Ltd. [Heat Exchanger] www.lhe.co.kr
– SHINYOUNG MACHINERY IND., CO., LTD. [Rudder Pintle] www.shinyoungmc.co.kr
– TAEWOONG CO., LTD. [Shaft(Propeller, Inter)] www.taewoong.com
– DHMC Co.,Ltd. [Rudder Trunk System] www.dhmc-rudder.com
– GEORIM ENGINEERING CO., LTD. [Oily Water Separator] www.georim.com
– KANGRIM HEAVY INDUSTRIES CO.,LTD. [Aux. Composite Boiler] www.kangrim.com
– KANGRIM HEAVY INDUSTRIES CO.,LTD. [Economizer] www.kangrim.com
– SUNBO IND., CO., LTD [Fuel Oil Supply Unit] www.sunboind.co.kr
– YOOWON INDURSTRY CO., LTD. [Steering Gear] www.yoowonind.com
5/4/2016 © Finpro21

22. 5. Big Turn Key Contractors
• Deck
– HLB [Life & Rescue Boat] www.hlbkorea.com
– Dai Han Anchor Chain [Anchor Chain Cable] www.dhac.co.kr
– HI AIR KOREA Co.,Ltd.[Air Con/ Refrigerator] www.hiairkorea.co.kr
– NK CO., LTD. [ Fire Fighting System] www.nkcf.com
– HYUNDAI ELEVATOR CO.,LTD.[Elevator] www.hyundaielevator.co.kr
– BIP Industries Co., Ltd. [Panel & Door] www.bn-bip.com
– KOREA INDUSTRIAL MACHINERY CO., LTD. [Support] N/A
– Keystone Valve (Korea) LLC. [Cargo & Ballast Valve] Website
– Emerson Process Management Marine Solutions Korea Co., Ltd. [VRCS] Website
– SCANA KOREA HYDRAULIC LTD. [VRCS] Scana Korea
– Jung-A Marine CO., LTD. [Accomodation Ladder] www.jung-a.co.kr
– Samgong CO., LTD. [Accomodation Ladder] www.sam-gong.co.kr
– TANKTECH CO., LTD. [Towing Equipment] tanktech.co.kr
5/4/2016 © Finpro22

23. 5. Big Turn Key Contractors
• Electricity
– KOC ELECTRIC CO., LTD. [Transformer] www.kocelec.com
– CMR KOREA CO., LTD. [P.A & Talkback System] www.cmrkorea.com
– KSB Seil Co.,Ltd. [ODME] www.ksb.com
– WOOJOO M & E CO.,LTD. [UPS] www.wjme.com
– LS Cable & System[Electric Cable] www.lscns.com
– HANLA IMS CO., LTD.[Tank Monitoring System] www.hanlaims.com
– NASAN ELECTRIC INDUSTRIES CO.,LTD. [Console] www.nasanec.co.kr
– DAEYANG Electric Co., Ltd. [Lighting System] www.daeyang.co.kr
– Tyco Marine Service Korea [Fire Dection Sysem] www.tycomarine.com
5/4/2016 © Finpro23

24. 5. Big Turn Key Contractors
• Steel outfitting
– HY-LOK CORPORATION [Fitting] www.hy-lok.com
– KwangSung Co.,Ltd. [Ladder] www.kse.com.hk
– TMC CO., LTD. [Cable] www.tmc-cable.com
– SHINYOUNG ENTERPRISE CO., LTD. [Steel Door & Hatch] N/A
– KOREA INDUSTRIAL MACHINERY CO.,LTD. [Cable Tray] N/A
– SEWON INDUSTRIES CO.,LTD [Expansion Joint] www.sewon-ind.com
– CHUNG LYONG IND.CO., LTD. [Duct] www.chunglyong.co.kr
– TK Corporation [Fitting] www.tkbend.co.kr
• Others (CCS)
– TMC CO., LTD. [Membrane] www.tmc-cable.com
– DongSung FINETEC [INS. Panel] www.dsfinetec.co.kr
– HANKUK CARBON CO.,LTD. [INS. Panel] www.hcarbon.com
5/4/2016 © Finpro24

25. 6. Shipbuilding Associations
• KOSHIPA – Korea Offshore & Shipbuilding Association www.koshipa.or.kr
• KOMEA – Korea Marine Equipment Association www.komea.kr
• BMEA – Busan Marine Equipment Association www.bmea.or.kr
• KOSIC – Korea Shipbuilding Industry Cooperative www.kosic.or.kr
• The Society of Naval Architects of Korea www.snak.or.kr
• KOMERI – Korea Marine Equipment Research Institute www.komeri.re.kr
• The Korean Shipowners’ Association www.shipowners.or.kr
5/4/2016 © Finpro25

26. 7. Shipowners
• 193 shipowners, over 1000 ships, 42.6 million gross tons under Korean flag.
• Hanjin Shipping www.hanjin.com
• Hyundai Merchant Marine www.hmm.co.kr
• STX Pan Ocean www.panocean.co.kr
• Heung-A www.heung-a.co.kr
• Sinokor Merchant Marine www.sinokor.co.kr
• Nam Sung www.namsung.co.kr
• Pukwan Ferry www.pukwan.co.kr
• Saehan Marine www.shmarine.co.kr
• Shinshung Shipping shinsungship.modoo.at
• GS Shipping www.zeomarine.co.kr
• GS-Caltex Oil Corp. www.gscaltex.co.kr
• EUKOR Car Carriers Inc. www.eukor.com
5/4/2016 © Finpro26

27. 8. Oil and Gas companies
UPSTREAM OIL COMPANIES
• KNOC (KOREA NATIONAL OIL COMPANY) www.knoc.co.kr
• Korea Gas Corporation (KOGAS) www.kogas.or.kr
MIDSTREAM OIL COMPANIES
• Daehan Oil Pipeline Corporation www.dopco.co.kr
• SK ENERGY eng.skenergy.com
• Korea Gas Corporation (KOGAS) www.kogas.or.kr
DOWNSTREAM OIL COMPANIES
• SK ENERGY eng.skenergy.com
• GS-CALTEX OIL CORP. www.gscaltex.com
• S-OIL www.s-oil.com
• HYUNDAI OILBANK www.oilbank.co.kr
5/4/2016 © Finpro27

28. 9. Big Projects – LNG, Oil&Gas
1. Korea National Oil Corporation (KNOC): www.knoc.co.kr
1. Eight (8) exploration projects in overseas
2. Nine (9) domestic continental shelf exploration by 2023
3. Ulsan oil tank terminal project: oil storage and harbor facility, 2016-2019
2. Korea Gas Corporation (KOGAS) www.kogas.or.kr
1. Ten(10) pipe line improvement,
2. Fifteen (15) new pipe line plans and
3. Three (3) new storage facilities
5/4/2016 © Finpro28

29. 9. Big Projects - Harbor and port projects
1) Busan Port Authority : www.busanpa.com
1) North Port Re-development 2005-2020 USD 8.5 billion
2) New Port West (2-5 stage) port 2008-2019 USD 350 million
3) New Port West (2-5 stage) expansion 2014-2019 USD 130 million
4) New Port West (2-6 stage) 2008-2020 USD 310 million
5) New Port West (Container Yard) 2012-2017 USD 30 million
6) New Port South (Support facilities) 2013-2020 USD 270 million
7) New Port (Small vessel pier redevelopment) 2016-2020 USD 9 million
5/4/2016 © Finpro29

30. 9. Big Projects - Harbor and port projects
1) Incheon Port Authority : www.icpa.or.kr
1) Incheon New Port Development 2007-2020 USD 2.5 billion
2) Incheon International passenger terminal 2012-2018 USD 500 million
3) A-am Logistics Compex 2 (Land development) 2006-2022 USD 300 million*
2) Yeosu-GwangYang Port Authority : www.ygpa.or.kr
1) Yeosu Port Plan 2011-2020 USD 400 million
2) Gwangyang Port Development Project 2011-2020 USD 4.1 billion
3) Ulsan Port Authority : www.upa.or.kr
1) Ulsan Port plan 2011-2020 USD 6 billion
4) Gyeonggi-Pyeontaek Port Authority : www.gppc.or.kr
1) Port Hinterland (Phase 2-1) 2016-2020 USD 180 million
5/4/2016 © Finpro30

31. 9. Big Projects - Shipyards
New Shipyards
1. Samsung Heavy Industries
- Nigeria, Lagos – Under construction
- Possible new shipyard: Malaysia, Vietnam or Indonesia.
(Weak business environment has stopped the plan)
Modernization of shipyards
1. Hanjin Heavy Industries & Construction
- Yeondo Shipyard (Busan) has been subject to modernization plans for years
(Weak order book has delayed the plan)
This does not include possible modernization of Korea owned overseas shipyards.
5/4/2016 © Finpro31