HD Hyundai's Gunsan Shipyard Acquired by JOSun Heavy Industries

The Gunsan shipyard, formerly operated by HD Hyundai Heavy Industries, has found a new owner in JOSun Heavy Industries. The facility, which halted operations nine years ago, had partially resumed production of blocks in 2023. JOSun Heavy Industries announced on the 26th that it signed an asset transfer and business cooperation agreement with HD Hyundai Heavy Industries at the Gunsan shipyard, located in the 2nd National Industrial Complex in North Jeolla Province. This acquisition marks a significant step toward revitalizing the shipyard. JOSun Heavy Industries, the largest shareholder of HJ Heavy Industries, intends to transition the Gunsan facility from its current role as a block production base to a comprehensive shipbuilding yard capable of constructing entire vessels. This strategic shift aims to leverage the shipyard's infrastructure and potentially boost shipbuilding capacity in the region.