January 19, 2019

Hyundai Heavy sets 2018 sales target at W7.9tr

PUBLISHED : January 03, 2018 - 13:35

UPDATED : January 03, 2018 - 13:35

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • 트위터
  • sms

[THE INVESTOR] Hyundai Heavy Industries, South Korea’s leading shipbuilder, said on Jan. 3 that it aims to achieve 7.98 trillion won (US$7.5 billion) in sales this year while its president warned of an unprecedented crisis due to declining order backlogs.

“This year, we could face a grave situation that we have never gone through before,” Hyundai Heavy Industries President and CEO Kang Hwan-goo said in his New Year’s speech.

He warned that Hyundai Heavy Industries could face difficulties due to dwindling order backlogs and that building work for offshore plants would “completely run out in a few months.”

Hyundai Heavy Industries has not won any offshore plant orders for the past two years.

The company’s 2018 sales target was a 60 percent decline from a decade ago.

The shipyard said it is expected to post an estimated 10.03 trillion won in sales for 2017.

By Alex Lee and newswires (

  • 페이스북
  • 트위터
  • sms
Herald Corporation|CEO : Kwon Chung Won
Chief Privacy Officer & Juvenile Protection Manager : Yang Sung-jin
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0114|Business info
Gov’t registration No. 아 04099