Since its establishment in 1972, Hyundai Heavy Industries has grown into the world’s leading heavy industries company by successfully diversifying from shipbuilding into offshore and engineering, industrial plant and engineering, and engine and machinery. Over the past 46 years, we have encountered and prevailed over innumerable challenges and obstacles.

We are proud to note that we have not only played a pivotal role in our own nation’s economic development but also have become a responsible global corporate citizen contributing to the sustainable development of the world economy. The key to our success lies in our business philosophy characterized by creative wisdom, positive thinking, and unwavering drive, which took inspiration from the indomitable pioneering spirit of our founder Mr. Chung Ju-yung.

With a view to strengthening our competitiveness amidst sluggish shipbuilding industry and increasingly adverse business environment, we have decided to reorganize ourselves with a greater focus on shipbuilding, offshore and industrial plant, and marine engine manufacturing. This will further cement our global No.1 position in shipbuilding and offshore businesses.

Ready to tackle fresh challenges and determined to reinvent ourselves through innovation, we will redouble our efforts to further enhance our leadership position by strengthening our core businesses and consolidating our presence in international markets. With a clear vision into the future, we will deliver greater value to both our clients and shareholders with continued focus on technology innovation, internal harmony, and cooperation.

We would like to take this opportunity to thank you for your support. We pledge our unrelenting efforts in pursuit of fulfilling our responsibilities as the global leader in the heavy industries sector.

Thank you.