Hyundai Samho Heavy Industries
 |
|
| Public (Hangul: 현대삼호중공업, Hanja: 現代三湖重工) | |
| Founded | 1998 |
| Headquarters | Samhoeup, Yeongam, South Jeolla, South Korea |
|
Area served
|
Worldwide |
|
Key people
|
Byung Wook Oh (CEO) |
| Products | Ship, Crane & Bulk Handling System, Ocean Plant & Instrument |
|
Number of employees
|
11,000 (2011) |
| Parent | Hyundai Heavy Industries Group |
| Website | http://www.hshi.co.kr/ |
| Hyundai Samho Heavy Industries | |
| Hangul | (주)현대삼호중공업 |
|---|---|
| Hanja | (株)現代三湖重工業 |
| Revised Romanization | Hyeondae Samho Junggongeop |
| McCune–Reischauer | Hyŏndae Samho Chunggongŏp |
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, Yeongam, South Korea.
The company was first established with a name of 'Incheon Shipbuliding(인천조선)' in 1977 as a subsidiary company of Halla Group(한라그룹). (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(인천), South Korea. In 1990, the company changed its name into 'Halla Heavy Industries'(한라중공업) 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 that time) has fallen into bankruptcy, bringing its affiliates into the slump as well. In this chaos, Halla Heavy Industries had filed for bankruptcy protection. The Korean Government decided to consign the company's management to Hyundai Heavy Industries for 5 years. The condition was selling the company to Hyundai Heavy Industries when the company restore its financial state.
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 finally changed the name into 'Hyundai Samho Heavy Industries' after the acquisition of Hyundai Heavy Industries in 2002. Today, Hyundai Heavy Industries owns 94.92% of the company's stock.
The company's formal establish year was 1998, because the company was formally re-established as RH Heavy Industries in 1998 when Rothschild temporarily bought the company.
After the purchase by 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 of a FPSO (Floating Production Storage Offloading) vessel 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 50 ships per year by constructing a mega size floating dry 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 30 million CGT ship in the shortest time period among the entire shipbuilding industry.
...
Wikipedia