Shipbuilding market shakeup: South Korea's HD Hyundai Heavy Industries and HD Hyundai Mipo to merge
South Korean shipbuilding companies HD Hyundai Heavy Industries (HHI) and HD Hyundai Mipo (HMD) have revealed plans to merge into a single entity.
The two companies are affiliates of HD Korea Shipbuilding & Offshore Engineering (HD KSOE), HD Hyundai’s intermediate holding company. HD KSOE explained that it is pursuing restructuring of its shipbuilding business to enhance global competitiveness and expand orders in Korea’s shipbuilding and defense sectors, as the ‘Make American Shipbuilding Great Again (MASGA)’ project is set to go into full swing.
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HD Hyundai hosts US-Korea MASGA shipbuilding cooperation talks
On August 27, 2025, HD KSOE, HD HHI, and HD HMD each held board meetings, where HHI and HMD approved a merger agenda. Following an extraordinary general meeting and merger review process, the two companies will relaunch this December as the consolidated HHI.
“This restructuring aims to maximize both quantitative and qualitative synergies, expand and diversify markets, and secure a decisive competitive edge in the fiercely contested global market through the preemptive
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