Seoul, South Korea – South Korea's major shipbuilding companies are experiencing a resurgence, with industry giants HD Hyundai, Hanwha Ocean, and Samsung Heavy Industries poised to report their first collective annual profit in 13 years.

The surge in profits is attributed to a global shipbuilding boom, driven by factors including increased demand for environmentally friendly vessels and robust orders for large-scale gas carriers.

According to financial statements released on [date], HD Hyundai's shipbuilding division reported a significant increase in operating profit, up [percentage] year-on-year to [amount]. Similarly, Hanwha Ocean announced a turnaround, achieving profitability for the first time since 2020.

While Samsung Heavy Industries has yet to release its official figures, industry analysts predict that the company will also report strong results.

U.S.-South Korea Cooperation Boosts Outlook The anticipated second term of the Trump administration is expected to further bolster the South Korean shipbuilding industry. The potential for increased cooperation between the two countries in shipbuilding and defense sectors, particularly in the area of U.S. Navy vessel maintenance and repair (MRO) services, is seen as a significant growth driver.

South Korean shipbuilders, especially Hanwha Ocean, have already made inroads into the U.S. Navy MRO market. The company secured contracts for the maintenance of the USNS Wally Schirra and USNS Yukon, underscoring the growing trust in South Korea's shipbuilding capabilities.

Industry Experts Optimistic Industry experts are optimistic about the long-term prospects of the South Korean shipbuilding industry. The combination of a global uptick in shipbuilding demand, increased cooperation with the United States, and the companies' focus on high-value vessels is expected to sustain this positive momentum.

[ⓒ Global Economic Times. 무단전재-재배포 금지]