Hyundai Samho Heavy Industries
| Type | Public (Hangul: 현대삼호중공업, Hanja: 現代三湖重工) |
|---|---|
| Founded | 1998 |
| Headquarters | Samhoeup, South Jeolla, South Korea |
| Area served | Worldwide |
| Key people | Oh Byung-uk (CEO) |
| Products | Ship, Crane & Bulk Handling System, Ocean Plant & Instrument |
| Total assets | \200 billion |
| Employees | 11,000 (2011) |
| Parent | Hyundai Heavy Industries Group |
| Website | [[1]] |
| Hyundai Samho Heavy Industries | |
|---|---|
| Hangul | (주)현대삼호중공업 |
| Hanja | (株)現代重工業 |
| Revised Romanization | Hyeondae Samho Junggongeop |
| McCune–Reischauer | Hyŏndae Samho Chunggongŏp |
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Hyundai Samho Heavy Industries Co., Ltd. (English abbreviation : HSHI, Hangul : 현대삼호중공업/Hyundai Samho Junggongup/, Hanja : 現代三湖重工業) is the world's 4th largest shipbuilder and produces approximately 40 vessels per year. Its yard is located in Samho-eup, South Korea.
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[edit] History
The company was first established with a name of 'Incheon Shipbuliding' in 1977 as a subsidiary company of Halla Group. (The founder of 'Halla group' was Chung In-Young the younger brother of Chung Ju-Yung, the founder of Hyundai Group) The first ship building dock was constructed in Incheon, South Korea. In 1990, the company changed its name into 'Halla Heavy Industries' and moved the dock yard from Incheon to Samhoup which is located in Yeongam, South Jeolla Province. (total 3,300,000 square metres of land)
In 1997, during the Asian Financial Crisis, the mother company Halla group (was ranked 12th in terms of equity at the time) has fallen into bankruptcy, bringing its affiliates into bankruptcy as well. In this chaos, Halla Heavy Industries had filed for court receivership. The Korean Government decided to consign the company's management to Hyundai Heavy Industries (HHI) for 5 years. The condition was selling the company to Hyundai Heavy Industries when Halla Heavy Industries restore its financial conditions.
In 1998, RH Heavy Industries (Rothschild Halla Heavy Industries), a temporary company which inherited only the assets and debt from Halla Heavy Industries, has been established. In 1999, RH Heavy Industries changed the name into 'Samho Heavy Industries' and in 2003, it changed the name into 'Hyundai Samho Heavy Industries' followed by the acquisition of Hyundai Heavy Industries in 2002. The company's formal establish year is 1998, because the company was formally re-established as RH Heavy Industries in 1998 when Rothschild temporarily bought the company. Today, Hyundai Heavy Industries owns 94.92% of the company's stock.
[edit] Achievements
After the purchase of Hyundai Heavy Industries, Hyundai Samho Heavy Industries has experienced rapid growth both internally and externally. In 2004, only 2 years after the take over of Hyundai Heavy Industries, the company has recorded $1 billion of overseas sales. In 2006, the company built a hull part of FPSO (Floating Production Storage Offloading) vessels and started to build LNG Carriers, LPG carriers and PCTCs (Pure Car & Truck Carrier). Furthermore, the company increased the capability of ship building up to 41-43 ships per year by constructing a mega size floating dock. 3 years later in 2009, Hyundai Samho Heavy Industries recorded an outstanding $3 billion of overseas sales. At the same year, the company has built a 30Million CGT ship in the shortest time period among the entire shipbuilding industry.
Hyundai Samho Heavy Industries now has 2 mega docks and an additional floating dock which can produce approximately 50 ships annually (4.3 Million GT), 6 Goliath Cranes including world's second largest 1200 tonne and 900 tonne cranes. According to Clarkson Research, Hyundai Samho Heavy Industries is presently the 5th largest shipbuilding company in the world. The company not only possess world class painting shops but also acquired ISO 9001 and ISO 14001 certificates.
[edit] Products
Hyundai Samho Heavy Industries mainly produces tankers, bulk carriers, container ships, gas and chemical carriers. The company also manufactures transport equipment such as Goliath Cranes and container offloading cranes. The company is also participating in the Panama Canal Locks rebuilding project.
[edit] References
[edit] External links
Official English Website http://www.hshi.co.kr/e_main/
