By King’s Office Correspondents
Busan, Korea – His Majesty the King yesterday toured a ship and heavy machinery manufacturing plant on the recommendation of Korean President Yoon Suk Yeol.
The company, HD Hundayi Heavy Industries, also manufactures electric car batteries, transformers and vehicle components.
It is renowned for turning a small fishing village into one of the biggest industrial areas in Korea.
The King said he was grateful to the Korean president for making the recommendation because the shared experience was highly valuable.
Speaking during a tour of the facility yesterday afternoon, he said the expertise that the company has developed over the years is exactly what Eswatini and Africa need to grow.
“We hope you may decide to choose Eswatinii as a hub for your expansion into the African continent and beyond.
“We are very impressed with the progress that the company has made from humble beginnings to becoming one of the largest corporations in the world,” he said.
He wished the group success and called upon its management to engage with the Minister of Commerce, Industry and Trade, Manqoba Khumalo, on conducting a feasibility study on setting up a plant in Eswatini.
His Majesty shared Eswatini’s ambition to first have a set standard of vehicles to operate as a government fleet, then move on to producing the car parts and eventually have a vehicle assembly plant that would supply the continent.
Speaking on behalf of the company, its Executive Vice President, Lee Won Tae, said they would give due consideration to having Eswatini serve as the bridge between themselves and the rest of the continent. He appreciated His Majesty’s visit and said the company would look at areas of cooperation and then formalise it.
The King and delegation were then taken on a tour of the plant, which was set up in 1972 and has a total of 14, 000 employees.
About HD Hyundai Heavy Industries (HHI)
It was founded by the late Chung Ju-yung on March 23, 1972. It wrote the first chapter of its shipbuilding history in June 1974 by completing the construction of the world”s largest shipyard and two 260,000-DWT VLCCs all at the same time. A decade after its first delivery, topped 10 million deadweight tonnes in aggregate ship production and has maintained the leading position in the world shipbuilding market ever since.
HHI Shipyards Drive has mirrored the growth of modern Korean heavy industry, and its success has allowed it to expand into other heavy industry areas, ultimately leading to the formation of HD Hyundai, an integrated heavy industry group.
Now the vision is to become a “Future Builder” by looking seaward. With more efficient and sustainable ships in the future, safe and secure transportation of renewable energy sources will become possible. The company is integrating global maritime data with powerful AI analytics to lower shipping businesses’ costs and reduce global trade’s overall carbon footprint. With a renewed commitment to the Future Builder vision, HHI looks to widen the world of infinite possibility.
HHI has a global business network in each of its three business units: shipbuilding and offshore, Naval and Special Ships, and Engine and machinery.
HD Hyundai Heavy Industries plans to deliver 48 vessels and aims to receive USD 9.5 billion (about E171 billion) of new orders.
It employs about 14,000 people in production, engineering, management, and administration. Their well-trained and experience-rich employees are ready to support their clients and partners with advanced technology.
