Samsung Heavy Industries Expands Busan R&D Center... Boosting Research Talent After Winning U.S. FLNG Contract

Samsung Heavy Industries R&D Center Relocates and Expands to Munhyeon Financial District

8.6 Billion Won Investment for a 1,700-Pyeong Facility and New Talent Recruitment

The major FLNG project secured in the United States is leading Samsung Heavy Industries to expand its research and development functions in Busan. The company plans to grow the Busan R&D Center and hire additional staff specialized in marine engineering and research.

On September 9, Busan City announced that it had signed a memorandum of understanding for investment with Samsung Heavy Industries Co., Ltd. to expand the 'Busan R&D Center' at the International Protocol Room of Busan City Hall. The signing ceremony was attended by Jeon Jaesoo, Mayor of Busan, and Choi Sung-ahn, CEO of Samsung Heavy Industries.

With a recent contract for an FLNG project from U.S. company Delfin, Samsung Heavy Industries is accelerating its entry into the North American offshore plant market. As the design phase for the newly won FLNG project is set to begin, the workload at the Busan R&D Center is expected to grow, prompting the company to expand the center and begin new recruitment. FLNG refers to a floating liquefied natural gas facility that can extract, liquefy, store, and offload natural gas offshore.

Samsung Heavy Industries plans to invest approximately 8.6 billion won to relocate and expand the R&D Center to a facility of about 1,700 pyeong in total floor area at the Munhyeon Financial District in Nam-gu, Busan. The company also plans to hire new marine engineering and research personnel by 2028.

While the existing Busan Center has focused on supporting detailed design in the shipbuilding and offshore sectors, it will now broaden its scope. In addition to design, the expanded center will cover sales, research, and information technology (IT), strengthening its functions to become an integrated design hub that oversees all stages of offshore business projects.

This investment is expected to help Busan expand its capabilities as a research and development hub for the shipbuilding and offshore industries. Busan City anticipates that the increased research personnel and functions of Samsung Heavy Industries stationed in the city will create specialized jobs for young local talent and strengthen the foundation for regional professionals to study and build their careers in Busan.

Busan City plans to leverage the annual output of technical professionals from 22 local universities, including Pusan National University, and the area's residential environment to attract knowledge-based service companies and research and development functions currently concentrated in the Seoul metropolitan area.

Mayor Jeon Jaesoo stated, "With the synergy effect of relocating the Ministry of Oceans and Fisheries, Korea's leading shipbuilding and marine companies are gathering in Busan. I expect Samsung Heavy Industries' investment will strengthen the region's marine industry ecosystem and help prevent the outflow of young and highly-skilled talent to the Seoul area."

He added, "Busan City will actively support Samsung Heavy Industries to ensure that city administration and local businesses work together seamlessly to achieve the vision of becoming a true maritime capital."

Busan City Hall.

This content was produced with the assistance of AI translation services.