Hyundai Heavy Industries

Hyundai Heavy Industries Co., Ltd. (or HHI) is the world's largest shipbuilding company, headquartered in Ulsan, South Korea. Hyundai Heavy Industries was founded in 1972 by Chung Ju-yung, as a division of the Hyundai Group, and in 1974 completed the building of its first ships. In 2002 the company was spun-off from the parent company, the Hyundai Group, as a separate business entity. HHI has four core business divisions: Shipbuilding; Offshore & Engineering; Industrial Plant & Engineering; Engine & Machinery. HHI also has five non-core related subsidiaries, which are: Hyundai Electric & Energy Systems; Hyundai Construction Equipment; Hyundai Robotics; Hyundai Heavy Industries Green Energy; and Hyundai Global Service.

The parent company, the Hyundai Group, started as a small South Korean construction firm in 1947, headed by founder Chung Ju-Yung. Another widely known and closely related Korean company, the Hyundai Motor Company was founded in 1967, just five years prior to the founding of the Heavy Industry Group. The motor company was also founded by Korean entrepreneur, Chung Ju-Yung. The Korean word "Hyundai" translates as the word "modern" in English, which was founder Chung's vision for the group of companies which he founded.