NEWS

By Lee in-ah | Chosun Biz | January 7, 2025 1:20PM

Overview of HJ Heavy Industries Yeongdo Shipyard /Courtesy of HJ Heavy Industries

HJ Construction noted that it achieved its highest performance since its foundation last year, recording an order amount of 4.7 trillion won.

According to HJ Construction on the 7th, the order amount in the shipbuilding institutional sector was 1.75 trillion won, which is a 300% increase compared to 2023. Compared to 2022, it rose by 150%. This marks the highest amount recorded for the Yeongdo Shipyard.

The special ship business drove the increase in performance. HJ Construction has secured performance improvement projects for 18 guided missile fast boats for the Navy, as well as maintenance projects for the Dokdo-class amphibious assault ship and the high-speed landing craft (LSF-II). It also obtained contracts for one 3,000-ton coast guard vessel and four new high-speed boats.

The results in the merchant ship business are also notable. The company focused on developing eco-friendly ships that emphasize decarbonization technology and, recognized for its technological expertise, successfully secured contracts for a total of eight eco-friendly container ships of 7,900 TEU (one TEU is one 20-foot container) from European shipowners, worth a total of 1.2 trillion won.

In the construction institutional sector, HJ Construction achieved an order volume of 840 billion won, with 1.3 trillion won from public works, 800 billion won from urban redevelopment projects, and other private and overseas projects.

In the public works sector, which had secured nearly 700 billion won last year and ranked eighth in the public construction market, it climbed to third place by winning significant projects such as the Saemangeum International Airport and the GTX-B Line Section 3-2. In November last year, it secured a contract for the construction of a new port in Cebu, Philippines, worth 280 billion won, and through the housing brand “Haemoro,” obtained a total of 800 billion won (seven projects) for dwelling redevelopment projects in Busan, Bucheon, and Namyangju.

As of the end of December last year, HJ Construction’s order backlog combined for the shipbuilding and construction institutional sectors reached 9.3 trillion won. A company representative said, “Thanks to strengthening responsibility management by institutional sector and business unit, as well as aggressive order acquisition activities, we were able to exceed our targets,” adding, “This year, all employees will strive to enhance our competitiveness through continuous change and innovation.”

Source: Chosun Biz

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