Chung Ki-sun Personally Oversees Shipbuilding Operations in the Philippines...Inspects Subic Bay Site
Visit to HD Hyundai Philippines Shipyard
Discussion on Expanding Korea-Philippines Economic Cooperation
Chung Ki-sun, Chairman of HD Hyundai, visited the Philippines to expand economic cooperation between the two countries and to inspect local business operations.
HD Hyundai Chairman Chung Eui-sun is paying tribute by offering flowers at the Korean War Memorial located in the Philippine National Heroes Cemetery on the 4th. Photo by HD Hyundai
View original imageOn March 5, HD Hyundai announced that Chairman Chung, who is visiting the Philippines as part of the Korean government’s economic delegation, carried out a series of activities, including paying tribute at the Korean War Veterans Memorial, attending the Korea-Philippines Business Forum, and inspecting HD Hyundai Philippines Shipyard.
On March 4, Chairman Chung visited the Korean War Memorial located in the National Heroes Cemetery in Manila and laid a wreath. The Philippines was the first Asian country to dispatch combat troops during the Korean War, sending a total of 7,420 soldiers.
On the same morning, he attended the 'Korea-Philippines Business Forum,' co-hosted by the Federation of Korean Industries and the Philippine Chamber of Commerce and Industry, where he discussed ways to expand economic cooperation between the two countries.
On March 5, he visited HD Hyundai Philippines in Subic Bay, toured the construction site of the new employee dormitory and the shipyard yard, and encouraged local employees.
Sharing lunch with local staff, Chairman Chung stated, "We will pay even closer attention to living conditions such as housing, healthcare, and security so that our employees can work without inconvenience," adding, "Above all, I ask you to put safety first and do your utmost in your respective roles."
HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for HD Hyundai’s shipbuilding division, signed a lease agreement in May 2024 with U.S. private equity fund Cerberus Capital for part of the Philippine shipyard site and established HD Hyundai Philippines.
In September of last year, HD Hyundai Philippines began full-scale construction after holding a steel-cutting ceremony for its first vessel, a 115,000-ton petrochemical product carrier.
Since 2016, HD Hyundai Heavy Industries has won orders for a total of 12 warships from the Philippines and has participated in the modernization of the Philippine Navy. In 2022, it established a logistics support center locally and is currently engaged in maintenance, repair, and overhaul (MRO) operations for delivered vessels such as frigates and patrol vessels.
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Chairman Chung remarked, "HD Hyundai has served as a bridge to promote friendship between Korea and the Philippines, going beyond simple business cooperation," and added, "We will continue to build deep trust with the Philippines with a sense of pride as a representative of Korea."
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