Chung Ki-sun, chair of HD Hyundai, met with Indian government officials to discuss cooperation in the shipbuilding and marine industries.
HD Hyundai said on the 13th that Chair Chung met with Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri at the HD Hyundai Global R&D Center in Pangyo, Gyeonggi Province, to discuss ways to expand mutual cooperation.
The Indian delegation heard from Chair Chung Ki-sun about HD Hyundai's ship design and construction capabilities and its smart shipyard operation system, and explored detailed cooperation plans to enhance India's shipbuilding capabilities, expand its fleet, and advance its technologies.
The Indian delegation's visit is connected to the push for "Maritime Amrit Kaal Vision 2047," which the Indian government currently treats as a core task. India has drawn up a plan to expand its current merchant fleet of 1,500 ships to 2,500 and leap into the global top five in shipbuilding, and it plans to invest about $24 billion (35.248 trillion won) in the budget. In Oct. this year, it announced support measures worth about $8 billion (11.75 trillion won) to expand new shipbuilding projects.
Earlier, in Jul. this year, HD Hyundai signed a memorandum of understanding for strategic cooperation with Cochin Shipyard Limited, India's largest state-run shipbuilder. Recently, they expanded the scope of cooperation to include naval ship projects.
Chung Ki-sun said, "Based on the strong trust with India, HD Hyundai will become the best partner in helping develop India's shipbuilding industry."
The Indian delegation, composed of government officials and CEOs of state-run oil and gas companies, will visit the HD Hyundai Heavy Industries Ulsan shipyard on the 14th to tour the merchant and special ship yards and observe shipbuilding on site.