HD Hyundai has set a bold target of reaching 100 trillion won ($68 billion) in annual sales by 2030, as Chair Chung Ki-sun pushes the industrial heavyweight to sharpen competitiveness across shipbuilding, equipment and energy amid weakening global demand and rising protectionism.
At a two-day group strategy meeting held in Ulsan through Thursday, 32 top executives — including Chung and affiliate CEOs — reviewed mid- to long-term growth plans and restructuring priorities.
The group acknowledged mounting pressures: a slowdown in the shipbuilding order cycle, worsening refining margins, and localization policies in the US, Europe and China that threaten global supply chains. In response, executives approved strategies focused on: driving eco-friendly and AI-powered transformation; reinforcing market leadership in core businesses; and accelerating development of new growth engines.
In shipbuilding, HD Hyundai aims to cement a dominant position following the merger of HD Hyundai Heavy Industries and HD Hyundai Mipo Dockyard. Similar streamlining is planned in construction machinery, where the integration of HD Hyundai Construction Equipment and HD Hyundai Infracore is expected to expand global market share and operational efficiency.
HD Hyundai Oilbank, facing sluggish petrochemical and refining margins, will pursue cost reforms and pivot toward higher-value products to improve profitability. Meanwhile, the group’s power equipment operations will scale up production to tap rising global demand and reinforce leadership in the medium- and low-voltage circuit breaker market.
HD Hyundai also highlighted a robust pipeline of future technologies, including robotics, autonomous navigation, electric propulsion systems, fuel cells and small modular reactors, which are expected to anchor long-term revenue growth and help the group achieve the 100 trillion won milestone.
“This is a critical moment for our group’s transformation and leap forward,” Chair Chung said during the meeting. “We must face the challenges surrounding our core businesses with a cool head and demonstrate the driving force that defines HD Hyundai as we prepare for the future.”
The group emphasized execution speed, noting that starting in 2026, each business unit will shift from preparation to accelerated expansion. “The roadmap we presented reflects our commitment to a new phase of growth,” an HD Hyundai official said. “We will maximize the potential of every division to deliver on our mid- to long-term goals.”
andreahaneu@heraldcorp.com
