Offshore Shipbuilding Demand Prompts HHI Design Expansion

Hyundai Heavy Industries plans to establish a new ship design subsidiary early next year by expanding its Mipo Engineering Co, reports Yonhap News Agency.

Hyundai Heavy Industries plans to establish a new ship design subsidiary early next year by expanding its Mipo Engineering Co, reports Yonhap.

Growing demands for high-end ships such as drill ships and offshore plants prodded Hyundai Heavy to set up the new company, the shipbuilder informed Yonhap.

Mipo Engineering will be incorporated into Hyundai E&T, which will be financed by Hyundai Heavy Industries, Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co.
Hyundai Heavy plans to increase the number of ship designers to 1,600 by 2018 from the current 350, and the number of employees in the ship inspection sector to about 400.

Source: Yonhap News Agency