HD Korea Shipbuilding & Offshore Engineering achieved its best-ever results last year and will pay performance bonuses of up to 1,000% of base salary to shipbuilding affiliates.
HD Korea Shipbuilding & Offshore Engineering said on the 9th during its earnings conference call that it plans to pay performance bonuses this month equal to 1,000% of base salary at HD Hyundai Samho and around 800% each at HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Heavy Industries. Subcontractors will receive separate performance bonuses after individual assessments.
It also projected that Korea's growth in global shipbuilding market share will continue this year. It noted that China, which holds the No. 1 market share, lags behind Korea in the quality and technological capability of liquefied natural gas (LNG) carriers, and that most of China's orders are for domestic demand, leading to an outlook that Korean-built ships will maintain their market share.
The local shipbuilding project in Peru led by HD Korea Shipbuilding & Offshore Engineering is expected to gain full momentum in the second half and be reflected in revenue starting in the fourth quarter.