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“Hanwha Ocean Embarks on $20 Billion Investment Strategy for Defense and Green Industries”
남지완 기자
입력 : 2023.08.30 17:46
ㅣ 수정 : 2023.08.30 17:46
South Korean Company Aims to Establish Global Dominance in Maritime Defense and Eco-Friendly Technologies
SEOUL (News2day) = Hanwha Ocean, led by CEO Kwon Hyuk-woong (pictured), is set to invest a staggering $20 billion to establish unparalleled competitiveness in the defense industry and eco-friendly ventures. Through this initiative, Hanwha Ocean aims to usher in an era of $30 billion in revenue by excelling in two pivotal sectors, effectively positioning itself as a driving force for future growth.
In a board meeting held on the 23rd, Hanwha Ocean approved a $20 billion capital increase plan and declared its intent to achieve $30 billion in revenue and $5 billion in operating profit by 2040. The company envisions becoming a "Global Ocean Solution Provider," spearheading the paradigm shift in the maritime industry.
Fueled by the newly acquired funds, Hanwha Ocean is poised to secure overseas footholds for maritime and defense ventures, while investing significantly in eco-friendly propulsion systems and technology for environmentally-conscious shipping and autonomous vessels.
The planned capital increase will proceed through a general public offering to existing shareholders. This will result in the issuance of 89.48 million new common shares at a price of KRW 22,350 per share.
The allocation date for the new shares is scheduled for September 25th, with the subscription for existing shareholders taking place over two days from November 8th. The general public offering is slated for November 13th to 14th.
Hanwha Ocean's Cutting-edge Naval Technology and Overseas Production Bases
A substantial portion of the secured funds, approximately KRW 900 billion, will be channeled towards the acquisition of unmanned and advanced technologies, as well as establishing overseas production bases, to address global security demands. This strategic move is aimed at positioning Hanwha Ocean as a leader in cutting-edge defense technology to tap into the burgeoning global maritime defense market, projected to reach a cumulative $986 billion over the next decade due to increased defense budgets amidst geopolitical challenges.
Hanwha Ocean aspires to enter the $243 billion submarine and surface ship markets, with ongoing large-scale submarine projects in Canada, the Netherlands, Poland, and other regions. Leveraging Hanwha Aerospace's submarine energy storage systems (ESS) and Hanwha Systems' unmanned combat systems, the company aims to secure a competitive edge and venture into overseas Maintenance, Repair, and Operations (MRO) services.
Green and Digital Ship Development
Hanwha Ocean is also vigorously pursuing eco-friendly technologies to meet the rising demand for environmentally conscious products due to stringent global environmental regulations. Approximately KRW 600 billion of the capital injection will be allocated to the development of eco-friendly propulsion systems based on ammonia, methanol, and hydrogen, as well as the development of ships for transporting these substances.
Furthermore, the company aims to secure Level 4 autonomous navigation technology, which enables fully unmanned autonomous operation of ships, by 2030. The company is also investing around KRW 200 billion to target the rapidly growing global offshore wind power market, with a commitment to provide comprehensive offshore wind power services, including manufacturing, transportation, installation, and maintenance.
Addressing Manpower Shortages with Smart Yard Initiative
To counter the critical challenge of decreasing workforce in the shipbuilding industry, Hanwha Ocean is embarking on the establishment of a "Smart Yard." The company plans to invest approximately KRW 300 billion to build an automated "Smart Yard" system, enhancing work safety and addressing the decreasing skilled labor in the shipbuilding sector.
The comprehensive transformation includes utilizing robots and automation to boost productivity and transforming the entire shipyard into a data-driven, smart facility through initiatives like smart factories and logistics automation.
CEO Kwon Hyuk-woong expressed, "Through this significant investment, we intend to lead a paradigm shift in the maritime industry, transcending the maximization of shipbuilding industry's core competitiveness. We aspire to be a global innovative company providing solutions for security and climate challenges that the world is facing."
By Ji-wan Nam, a reporter of News2day / ainik@news2day.co.kr
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