KOSPI · Shipbuilding & engines · HiMSEN
HD Hyundai Heavy Industries
The world's largest shipyard, building merchant, gas and naval ships (Shipbuilding 71%) and making large marine engines like HiMSEN that it also sells to other yards (Engine & Machinery 22%), plus offshore plants (7%). HD Korea Shipbuilding is its parent; it exports warships and submarines to the Peruvian and Indian navies.
329180.KS Updated Jul 12, 2026 3 AI consumers· 1 recurring
Per the valuechain.wiki graph, HD Hyundai Heavy Industries is directly linked to 3 companies (1 supply, 1 revenue, 1 investment relationships) and reaches 3 companies within two hops; the links are backed by 5 dated sources, 3 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · Shipbuilding 71%, Engine & Machinery 22%, Offshore 7%
- Segments · Shipbuilding (merchant, gas, naval) · Engine & Machinery (HiMSEN, large engines) · Offshore (production facilities, chemicals)
Revenue from
- 글로벌 선주 (상선·가스선·컨테이너선) High confidence· contract 469,900,000,000원 · 컨테이너선 6척(2026.7) · DART supply-contract filing
Shipbuilding (71% of revenue): merchant, high-value gas and container ships. 2026 disclosures: 6 container ships at KRW 469.9bn (a Middle East owner, 2.67% of revenue) and KRW 392.2bn (an Oceania owner, 2.23%). - 미 해군 (함정 MRO) High confidence
Back-to-back US 7th Fleet supply-ship MRO wins: USNS Cesar Chavez (Jan 2026) then the 41,000t USNS Richard E. Byrd within three months; the two Korean yards' four 2026 awards already triple last year's pace.Confirms KO E-Today Published Apr 19, 2026: US Navy MRO race: HD Hyundai and Hanwha Ocean win back-to-back - 글로벌 선주 (LNG·컨테이너선) High confidence
The world's largest shipyard, with a supercycle backlog of LNG carriers and mega-boxships.Mentions KO E-Today Published Apr 19, 2026: US Navy MRO race: HD Hyundai and Hanwha Ocean win back-to-back - 조선소·발전사 (힘센엔진·대형 선박엔진) High confidence
Engine & Machinery (22% of revenue): large engines, its own HiMSEN engines and land power gensets, supplied to shipyards and utilities worldwide - including main engines to other yards like Hanwha Ocean. - 페루·인도 해군 (함정·잠수함 수출) High confidence
Won 4 warships from Peru's state SIMA yard and signed a next-gen submarine co-development contract; MOU with India's Cochin Shipyard for an Indian Navy landing ship. Domestic naval ships are also part of the shipbuilding segment.Mentions EN Naval News Published Nov 1, 2025: Peru's SIMA and HD Hyundai to co-develop submarines and warships - 한화오션 (선박용 메인엔진) Medium confidence
Named as a marine-engine supplier in Hanwha Ocean's annual report. - 미 해군 (군수지원함 MRO) Medium confidence
Back-to-back US 7th Fleet supply-ship MRO wins (USNS Cesar Chavez, USNS Richard E. Byrd), expanding US naval work from MRO.Mentions EN Naval News Published Nov 1, 2025: Peru's SIMA and HD Hyundai to co-develop submarines and warships
Pays to
- POSCO·현대제철 (선박용 후판·강재) High confidence
Sources ship and offshore steel plate from POSCO, Hyundai Steel and other mills at home and abroad; plate is a large share of ship material cost. - 선박 기자재·의장품 (블록·전장·항해장비) Medium confidence
Assembles from blocks, fit-out, electrical and navigation equipment sourced from partners; the HiMSEN engine is made in-house.
Investors
- HD한국조선해양 (최대주주) High confidence
Spun off from Hyundai Heavy Industries by physical division in June 2019; its largest shareholder is HD Korea Shipbuilding (the shipbuilding intermediate holding), unchanged since.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Hanwha Ocean | lead1 | -24.9 | +25.6 | +9.6 | +160.6 | +142.1 | -41.3 |
| HD Hyundai Heavy Industries | node | · | +11.4 | +3.2 | +172.6 | +86.9 | -11.8 |
| HD Korea Shipbuilding & Offshore Engineering | benef1 | -15.2 | -0.1 | +42.6 | +104.4 | +84 | -16 |
| POSCO Holdings | benef2 | +13.9 | +19.9 | +43 | -37.3 | +38.3 | -8.8 |
YTD as of 2026-07-10 · source: Yahoo Finance
The world's largest shipyard, building merchant, gas and naval ships (Shipbuilding 71%) and supplying large marine engines like HiMSEN to other yards too (Engine & Machinery 22%) — vertical integration is the edge. A supercycle backlog of LNG carriers and mega-boxships underpins earnings, joined by a defense axis: back-to-back US 7th Fleet supply-ship MRO wins (USNS Cesar Chavez, Richard E. Byrd) and warship/submarine exports to Peru and India. Risks are that steel-plate (POSCO, Hyundai Steel) prices and labor costs drive the cost ratio; HD Korea Shipbuilding is the largest shareholder. Upstream on the graph are steel mills (plate) and equipment partners; downstream are global shipowners and the US, Peruvian and Indian navies.
Analysis generated from returns as of 2026-07-10