HD Hyundai has made significant management changes to strengthen its shipbuilding business and accelerate future growth initiatives, including the infrastructure for artificial intelligence (AI) data centers and small modular reactors (SMR), in celebration of the first anniversary of Chung Ki-sun's presidency.
Key Management Changes
On October 7, HD Hyundai announced its 2026 management changes, appointing Lee Sang-gyun as Vice President, who will oversee the group's shipbuilding operations. He will be responsible for consolidating the capabilities of the group's shipbuilding subsidiaries, including HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Samho.
Developments in Shipbuilding and Energy Sector
Cho Min-soo, Vice President and Head of the Shipbuilding Division at HD Hyundai Heavy Industries, has been appointed as President and Co-CEO. Born in 1966, he will be responsible for enhancing safety in shipbuilding operations. Additionally, Han Joo-seok, Vice President of the Engine and Machinery Division, has been appointed to lead and will focus on business diversification with an emphasis on HiMSEN engines. With 33 years of experience in marine engine design and development, Han aims to create synergies in related businesses.
HD Hyundai is also heavily focused on the energy infrastructure market as a key area for future growth. The company has secured 1.58 trillion won (approximately 1.2 billion dollars) in orders for power generation equipment for data centers in the United States. HiMSEN engines, known for their high output and efficiency, are being used as the primary energy source for data centers that require uninterrupted operations.
Progress in the SMR sector is also clearly materializing. With a $30 million investment in TerraPower, founded by Bill Gates, HD Hyundai has acquired the reactor vessel manufacturing project and is investing 238.6 billion won to build a dedicated manufacturing facility for SMR core components. The company has also obtained conceptual design certification for nuclear-powered container ships and is seeking commercialization by 2030.
