Overview

• HD Korea Shipbuilding & Offshore Engineering (HD KSOE) reported a Q1 net profit of 611.6 billion won, more than tripling year-on-year earnings.
• Samsung Heavy Industries achieved a tenfold profit increase in Q1, posting 90.1 billion won and surpassing analyst expectations.
• Both companies credit their profit growth to strong demand for high-value ships, productivity improvements, and early delivery of high-margin orders.
• HD KSOE secured $2.2 billion in new orders and is advancing U.S.-Korea naval cooperation through policy proposals and an MoU with Huntington Ingalls.
• Samsung Heavy Industries has booked 22% of its annual order target with $2.2 billion in contracts, focusing on LNG carriers and floating LNG facilities.