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The merger of the two major shipping enterprises in South Korea wants to transform the shipbuilding industry

Kwon Oh-kap, chief executive of the newly established South Korean shipbuilding company (Korea Shipbuilding & Offshore Engineering,KSOE, said recently that he needs to be prepared for the transformation of the thinking mode of the Korean shipbuilding industry.

KSOE is a secondary holding company established by Modern heavy Industry to merge Daewoo Shipbuilding. On June 3, KSOE applied for registration in the Ulsan District Court and appointed Vice Chairman of Hyundai heavy Industry, Yu Wujia, as its new chief executive officer.

This is the first step in Hyundai’s acquisition of Daewoo Shipbuilding procedures. According to the plan of Modern heavy Industry, KOSE will be headquartered in Seoul and will lead four shipyards: modern heavy Industry, Daewoo Shipbuilding, Modern Sanhu heavy Industry and Modern Weipu Shipbuilding. Modern heavy Industry hopes to train it into a global mechanical equipment engineering company, KOSE will be committed to research and development (R / D), significantly improve the level of technology.

“Shipbuilding will be transformed into a technology-oriented industry, rather than a labour-intensive industry,” he said in an email to KSOE executives and employees. ” The reason is that technology is critical to surviving the competition, China has cheaper labour costs, Russia and Saudi Arabia are rich in natural resources, and these countries are eager to enter the shipbuilding industry.

According to the top five, KSOE will focus on R & D investment. KSOE, which currently has 500 executives and employees, will continue to employ staff in the future, with the goal of establishing a global R & D center with 5000 people in (Pangyo), Banqiao City, South Gyeonggi Province. He made it clear that KSOE will spare no effort to support research and development, which is the cornerstone of the future of South Korea’s shipbuilding industry.

On the management of its four shipyards, Wu Wujia pointed out that while performing its duties, KSOE will ensure management autonomy and ensure the development of its subsidiaries.

The top five hopes that KSOE will do everything it can to weather the recession in South Korea’s shipbuilding industry. He believes that KSOE’s task is to maintain jobs by winning orders for environmentally friendly ships and future smart ships and must become a market leader.

Wu Wujia said that KSOE is responsible for the future of South Korea’s shipbuilding industry. “if advanced technology and quality are ensured, stable orders can be obtained no matter how the business environment changes,” he said. It is the mission of the KSOE to protect the ecological environment of the Korean shipbuilding industry by maintaining employment stability and to undertake the future of the Korean shipbuilding industry. ”
Source: SMM Information & Technology Co, Ltd.

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