HJ Shipbuilding & Construction

HJ Shipbuilding & Construction is a South Korean shipbuilding and construction company headquartered in Busan. Its corporate lineage reaches back to Chosun Heavy Industries, established in 1937, and the business has operated under several names, including Korea Shipbuilding & Engineering Corporation and Hanjin Heavy Industries & Construction. The company is therefore one of the long-established industrial enterprises associated with South Korea’s shipbuilding development. The company’s principal industrial activity is shipbuilding. Its reported construction record includes commercial vessels, surface combatants, amphibious warfare ships, landing vessels, patrol craft, and naval auxiliary craft. The naval portfolio includes vessels built for the Republic of Korea Navy, including ships in the Dokdo class, Ulsan class, Pohang class, Donghae class, Cheon Wang Bong class, and Go Jun Bong class. It has also constructed patrol vessels and smaller landing craft. This mix gives the company exposure to both commercial and defense-related shipbuilding rather than positioning it solely as a merchant-ship producer. Construction is the other major component of the business identity. The company has historically combined shipbuilding with engineering and construction activities, reflecting the broader structure of Korean heavy-industrial groups in which shipyards, infrastructure work, and industrial facilities can share technical and project-management capabilities. The available reference material does not provide a complete current breakdown of revenue by segment or a definitive list of active construction projects, so its present construction portfolio cannot be described more specifically here. HJ Shipbuilding & Construction has also been associated with substantial employment and regional economic activity in Busan, particularly around its Yeongdo operations. That role has brought the company into labor disputes, including a major confrontation involving protests against layoffs and police intervention. The company later faced serious financial and ownership pressure. In 2020, Korea Development Bank, described in the reference material as the company’s principal creditor and largest shareholder, announced plans to sell all or part of its stake. Several potential bidders were reported, but the supplied material does not establish the final outcome of that process. In July 2021, the company announced completion of the second Dokdo-class amphibious assault ship for the Republic of Korea Navy, ROKS Marado. The announcement demonstrated the continuing importance of defense shipbuilding within its business. The company now uses the HJ Shipbuilding & Construction name, following its earlier Hanjin Heavy Industries & Construction identity. Because the supplied sources provide limited current corporate, financial, and executive information, ownership, listing status, leadership, website, and present operating scale remain unspecified in this dossier.

HJ Shipbuilding & Construction traces its origins to Chosun Heavy Industries, founded in 1937. The enterprise later operated as Korea Shipbuilding & Engineering Corporation before becoming associated with the Hanjin group under the Hanjin Heavy Industries & Construction name. These successive identities reflect the company’s development within South Korea’s heavy-industrial and shipbuilding sectors. The business has maintained a broad shipbuilding profile. Its recorded output includes container and other commercial ships, naval frigates and corvettes, amphibious assault ships, landing ships, air-cushion landing craft, patrol vessels, patrol boats, and auxiliary craft. A substantial part of its naval work has been performed for the Republic of Korea Navy. The listed construction record includes two Dokdo-class amphibious assault ships, ships of the Ulsan, Pohang, and Donghae classes, a Cheon Wang Bong-class landing ship, the complete Go Jun Bong-class landing-ship series, and numerous patrol and landing craft. The company’s work has consequently covered both large naval platforms and smaller vessels used for coastal security and amphibious operations. The company’s industrial role has also included construction and engineering activities beyond shipbuilding. The supplied reference material does not identify enough individual projects or dates to provide a complete account of that side of the business, but construction remains part of the corporate identity and historical name. The company has been an important employer in Busan, particularly in Yeongdo. Labor relations became a major public issue when thousands of people protested against layoffs and confronted police during a demonstration. Police used water cannon containing a diluted tear-water solution after issuing dispersal warnings. This episode became one of the most prominent controversies associated with the company in the supplied historical material. Financial and ownership pressure intensified by 2020. Korea Development Bank, described as the company’s main creditor and largest shareholder, announced that it intended to sell all or part of its holding. The bank was reported to control 83.45 percent of the shares. In December 2020, Dongbu Construction, Keithton Partners, and SM Merchant Marine were identified as bidders. The available reference does not establish the final result of the transaction or provide a sufficiently documented account of subsequent ownership changes. The shipyard continued to undertake defense work during this period. In July 2021, it announced completion of ROKS Marado, the second Dokdo-class amphibious assault ship for the Republic of Korea Navy. The project reinforced the company’s position as a builder of major Korean naval vessels. The business subsequently adopted the HJ Shipbuilding & Construction name. Current information on its executives, financial performance, listing status, ownership, and detailed construction operations is not available in the supplied reference material.

1. 2021ROKS Marado completed

   The company announced completion of ROKS Marado, the second Dokdo-class amphibious assault ship built for the Republic of Korea Navy.

   Source
2. 2020Korea Development Bank announces stake sale

   The company’s principal creditor and largest shareholder announced plans to sell all or part of its holding, beginning a reported bidding process.

   Source
3. 1937Chosun Heavy Industries established

   The company’s corporate lineage began with the establishment of Chosun Heavy Industries Co., Ltd.

   Source

A long-established South Korean shipbuilder combining commercial shipbuilding, naval vessel production, marine engineering, and construction capabilities, with a notable role in Republic of Korea Navy procurement.

• Commercial shipsCommercial shipbuilding

  The company has built commercial vessels including container ships. The available reference identifies Ital Lunare among its container-ship output, but does not provide a complete catalog of commercial vessel types or current production programs.

• Naval surface combatantsDefense shipbuilding

  HJ Shipbuilding & Construction has built South Korean naval surface vessels including Ulsan-class frigates, Pohang-class corvettes, and Donghae-class corvettes. These projects form part of the company’s long-standing defense shipbuilding portfolio.

• Dokdo-class amphibious assault shipsAmphibious warfare ships

  The company built both ships of the Dokdo class for the Republic of Korea Navy. The second vessel, ROKS Marado, was reported completed in 2021, highlighting the shipyard’s ability to deliver large amphibious naval platforms.

• Landing ships and landing craftAmphibious warfare vessels

  Recorded output includes a Cheon Wang Bong-class landing ship, all four Go Jun Bong-class landing ships, and multiple Solgae 631-, Mulgae 87-, and Mulgae 79-class landing craft. The portfolio spans conventional landing ships and smaller craft used in amphibious operations.

• Patrol vesselsCoastal and naval patrol craft

  The company’s reported patrol-vessel output includes Yoon Youngha-class patrol vessels and the complete Chamsuri-class patrol-boat series listed in the reference material. These vessels represent the shipyard’s role in coastal-security and naval procurement.

• Construction and engineering servicesConstruction

  Construction and engineering are part of the company’s corporate scope alongside shipbuilding. The supplied sources do not provide enough detail to identify specific current projects, customers, or infrastructure categories.

• 2021Completion of ROKS MaradoProduct launch

  The Republic of Korea Navy required a second Dokdo-class amphibious assault ship, following the class’s first vessel.

  What changed. The company announced completion of ROKS Marado.

  Aftermath. The announcement confirmed the company’s continuing role in the construction of major amphibious naval platforms for South Korea.

  Source
• 2020Korea Development Bank initiates a stake-sale processM&A

  Korea Development Bank was identified as the company’s principal creditor and largest shareholder, with a reported 83.45 percent shareholding. In the context of financial pressure, the bank announced plans to sell all or part of its position.

  What changed. The bank invited acquisition interest and, in December 2020, identified Dongbu Construction, Keithton Partners, and SM Merchant Marine as bidders.

  Aftermath. The supplied reference confirms the bidding process but does not document the final transaction outcome or resulting ownership structure.

  Source

• Layoff protests and police confrontation in YeongdoControversy

  Thousands of protesters demonstrated against layoffs in Yeongdo, Busan. The protest escalated into clashes with police, who used water cannon containing diluted tear-water solution after warnings to disperse.

  Source

• 2021ROKS Marado completed as the second Dokdo-class amphibious assault ship

  The company announced completion of ROKS Marado, the second ship of the Republic of Korea Navy’s Dokdo class of amphibious assault ships.

  Product launchProduct generation
  Source
• 2020Korea Development Bank announces sale process for Hanjin Heavy Industries & Construction

  Korea Development Bank, identified as the company’s principal creditor and largest shareholder, announced plans to sell all or part of its stake. The bank was reported to own 83.45 percent of the company, and several prospective bidders were subsequently identified.

  M&AOther
  Source

1. HJ Shipbuilding & Construction