Industry officials said on the 13th that the two companies signed the agreement at Ecoprime Marine Pacific’s headquarters in Yongsan.
The assets to be transferred include all tangible assets related to the Gunsan shipyard, including real estate and movable property. The contract amount will be finalized after due diligence, based on a basic asset value set through an appraisal and then confirmed through negotiations between the parties. A final contract is expected to be signed after the due diligence process.
HD Hyundai Heavy Industries built the Gunsan shipyard in 2010 on a 1.8 million-square-meter site in the Gunsan National Industrial Complex in North Jeolla Province. Operations were suspended in 2017 as orders fell amid a downturn in the shipbuilding industry. Since 2022, the yard has been partially restarted and has produced ship blocks.
The shipyard spans 1.8 million square meters and is equipped with a 1.3 million-metric-ton dock, a 1,650-metric-ton Goliath crane and other facilities. With an annual assembly capacity of 250,000 metric tons, it can build 12 bulk carriers of 180,000 tons each, the company said.
Ecoprime Marine Pacific said HD Hyundai Heavy Industries agreed to place orders for its block production at the Gunsan shipyard (tentative name) for the next three years to help revitalize the facility. It also said HD Hyundai Heavy Industries will provide design services, handle raw-material purchasing on its behalf, and support automation and smart-shipyard technologies.
An HD Hyundai Heavy Industries official said the asset transfer is expected to make new shipbuilding possible at the Gunsan shipyard. The official added that HD Hyundai Heavy Industries will continue to receive ship blocks at the same level as it does now even after the transfer, calling it a win-win for HD Hyundai Heavy Industries, Ecoprime Marine Pacific and the city of Gunsan.
* This article has been translated by AI.
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