Overview

• HD Hyundai Executive Vice Chair Chung Ki-sun met Saudi Investment Minister Khalid Al Falih in Seoul on Sept. 25 to deepen collaboration on the kingdom’s shipbuilding plans.
• Talks covered operating the IMI shipyard and the Makeen engine plant under construction in Jubail, plus establishing a localized parts supply chain.
• The IMI yard is targeted to start operations in 2026 with capacity of about 40 vessels per year, with the Makeen engine facility following in 2027.
• Participants included Sofon Holding CEO Sulaiman M. Ababtain and HD Hyundai naval division head Joo Won-ho, who explored potential cooperation in naval projects.
• HD Hyundai is a shareholder in IMI with Saudi Aramco, Lamprell and Bahri, and it has showcased the HDF-6000 frigate as it seeks closer defense ties with Saudi Arabia.