HD Hyundai Heavy aims to top 5 tln won in naval vessel sales by 2035

SEOUL, South Korean shipbuilder HD Hyundai Heavy Industries Co. said Tuesday it aims to increase its annual sales of naval vessels to 5 trillion won (US$4 billion) by 2035 through overseas projects. "Through naval ship exports, we aim to top sales of 3 trillion won in 2030 and 5 trillion won by the mid-2030s, when we will be able to enter the U.S. market," Joo Won-ho, chief operating officer at the company's Naval and Special Ship Business Unit, said in a press conference. For this goal, the company said it will push to increase the portion of its overseas sales -- which accounted for about half of its 1.1 trillion-won annual sales estimate for this year -- to around 80 percent of its sales by 2035. Last month, the company signed a 640.6 billion-won contract to build four warships for the Peruvian Navy jointly with Peru's state-owned shipbuilder SIMA Peru S.A. It marked the largest naval ship order placed by a Latin American country with a Korean shipbuilder. Source: Yonhap News Agency