Hanwha Ocean Co., a leading South Korean shipbuilder, said Wednesday it plans to establish an engineering center in the South Korean southeastern port city of Busan to strengthen its design competitiveness in the marine and special ship sectors, according to Yonhap.
The company signed a memorandum of understanding with the Busan metropolitan government earlier in the day on the establishment of the center, scheduled to open in May. It will initially house 150 design specialists focused on marine and special ship projects.
Hanwha Ocean, the world's third-largest shipbuilder by order backlog, plans to hire an additional 350 design personnel by 2027, bringing the total workforce at the center to 500. The company envisions the center to be a strategic hub for securing top talent in marine and special ship design, leveraging the ongoing boom in the shipbuilding industry.
Hanwha Ocean said the center would not only enhance its competitive edge but also contribute to the shipbuilding ecosystem by creating new jobs in the surrounding regions. The shipbuilder also seeks to enhance its production capabilities at its shipyard on the nearby island of Geoje. Such efforts will include the expansion of large-scale facilities, such as cranes and docks, the company said.
Hanwha Ocean said its investments in design and production capacity underscore its commitment to reinforcing its position in the global shipbuilding market while fostering regional economic growth.