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Steering its business portfolio to a more stable one in the long term, Hyundai Corporation has sought to secure manufacturing and distribution business base to take a great leap toward a world leading trading company.
Since 2004, Hyundai Corporation has commenced 5 strategic new businesses including shipbuilding business in an effort to transform the current business structure, which had been dependant on intermediate trading and export business, into a more value added one. After acquiring the 30 -year-old Qingdao Lingshan Shipyard located in Jiaonan City, Qindao, Shandong in China and establishing a joint venture named Qingdao Hyundai Shipbuilding, Hyundai Corp has embarked on the shipbuilding business. This is significant as Hyundai Corp is the first general trading company that undertakes a business in the manufacturing industry. Eventually, this will accelerate the company's business diversification and lay solid foundation for Hyundai Corp. to become a world leading company.
Three Advantages of Qingdao Hyundai Shipbuilding Co., Ltd
(1)
We will focus on capturing the niche market of building small to medium sized vessels, which is expected to prosper for a long period of time.
(2)
We expect a synergetic effect from the combination of Korea's top notch shipbuilding technology, the superior management capabilities of Hyundai Corporation, the large available work force, and the large site area of the shipyard.
(3)
Our 30 years of ship marketing know-how, and the already established world wide network give us a stable marketing foundation.
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