**HJ Heavy Industries Achieves Record-Breaking Annual Orders**
HJ Heavy Industries has achieved its highest annual order value since its founding, showcasing significant accomplishments. On January 7, the company announced substantial growth in both its shipbuilding and construction divisions over the past year.
In the shipbuilding sector, HJ Heavy Industries secured orders worth 1.75 trillion KRW, showing a 150% increase over 2022 and a 300% rise compared to 2023. Notably, the company’s eco-friendly technology was recognized in the commercial shipping sector, leading to orders from European shipowners for eight 7,900 TEU eco-friendly container ships worth 1.2 trillion KRW. These ships have similar designs, potentially increasing productivity and profitability through repeated construction. The 1.75 trillion KRW orders from commercial and special ships represent a record high for the Yeongdo Shipyard.
In the specialty ship business, where HJ Heavy Industries traditionally excels, their MRO (Maintenance, Repair, Overhaul) capabilities stood out. The company secured contracts for the performance upgrade of 18 guided missile patrol ships for the navy as well as the maintenance of large transport ships like the Dokdo-class amphibious assault ships and the LSF-II high-speed landing craft, reaffirming its strength in the MRO market. Additionally, they secured a total of 550.4 billion KRW from new construction projects, including a 3,000-ton patrol ship for the Coast Guard and four new high-speed boats.
In the construction sector, HJ Heavy Industries achieved 1.3 trillion KRW in public construction, 800 billion KRW in urban redevelopment projects, and 840 billion KRW in other private and overseas projects. The company nearly doubled its share in the public construction market compared to the previous year, reaching about 1.3 trillion KRW and successfully securing major projects like the Saemangeum International Airport and the GTX-B line section 3-2, ascending to third place in the industry. In November, they bolstered their international presence by winning a 280 billion KRW contract for a new port construction project in Cebu, Philippines.
HJ Heavy Industries also made strides in urban redevelopment with its residential brand ‘Hemoro’. The company secured seven projects worth 800 billion KRW in cities such as Busan and Bucheon and Namyangju in Gyeonggi Province, cementing its position as a mid-sized construction company. With the increase in new orders across both major business areas, HJ Heavy Industries’ order backlog has reached 9.3 trillion KRW. An HJ Heavy Industries representative stated, “Thanks to sector-wide and division-wide capabilities in shipbuilding and construction, we achieved balanced order performance exceeding our targets. We will continue to enhance our competitiveness through ongoing innovation.”