Repair business Finished in HMD

As the repair work of a 2,000ton crane barge, “Seorak-Ho”, finished successfully on March 21, 30 years’ repair business in HMD finally drew its curtain down.

Since it’s beginning in 1975, HMD has enjoyed its good reputation on the ship repair and conversion market for 30years with the performance of over 8,000 repair works and 200 conversion works. However, since late 1990’s, due to high labor costs in Korea, HMD’s repair business has lost competitiveness against the shipyards in South-eastern Asia and China and thus HMD has started putting more emphasis on newbuilding, especially medium sized product/chemical carriers and containerships.

It is not much to say that our successful entrance in the newbuilding market in late 1990’s was mainly due to its accumulated experience and high skilled workforce in repair business.

Even though repair business has disappeared in Ulsan, HMD’s reputation will be succeeded to HVS in Vietnam.

Meantime, No.1 dry-dock in HMD used for repair works for 30years will be used for newbuildings from April 4 this year.