2015 Business Briefing

Hyundai Mipo Dockyard (HMD) organized a series of 2015 business briefing sessions for executives and staff to raise awareness of challenges the current environment presents and to muster up the level of commitment needed to rise above tough circumstances.

President Kang Hwan-goo has held three business briefing sessions for two days since April 9 before 730 participants which included HMD executives, department heads and members of subcontractors, at the auditorium of Hanwoori Hall.

In the briefing, President Kang presented this year’s outlook for the global economy and the shipbuilding industry, current business headwinds confronting HMD, as well as tasks HMD has to pull off to achieve this year’s business objectives.

Of note, President Kang expressed his concerns about order prospects of product and gas carriers—the flagship vessels of HMD—in the aftermaths of oil price plunge that has started since the end of last year. Also, he projected growing competition with state-sponsored Chinese yards and weak-yen-backed Japanese peers, while ship prices have barely rebounded from their 30% slide recorded in 2007.

In light of these circumstances, President Kang stressed the need to foster eco-friendly technologies and develop new types of ships, and asked employees for constant efforts to accomplish this year’s goals; ensuring a safe and clean workplace, turning in a profit, enhancing price competitiveness and seeking a win-win proposition with contractors.

Following the briefings, executives of respective divisions provided special lectures to staff until the end of March to reaffirm their commitment to making a new leap forward.