HD Hyundai targets annual production of 23 vessels in Vietnam by 2030

The South Korean conglomerate is increasing its presence in Vietnam in both shipbuilding and marine equipment manufacturing as part of its long-term growth strategy.

In Vietnam, HD Hyundai Vietnam Shipbuilding operates as a joint venture between HD Hyundai and the Vietnam Shipbuilding Industry Corporation.

According to data from UK-based shipping analyst Clarksons Research, Vietnam delivered vessels totaling 877,576 GT (gross tonnage) in 2025, representing 1.1 percent of the global shipbuilding output of 76.82 million GT.

HD Hyundai Vietnam Shipbuilding alone accounted for 710,369 GT of the deliveries, making up about 80 percent of Vietnam's total shipbuilding output during the year.

Although Vietnam's share of the global market remains relatively small, industry observers see strong growth potential for the country's shipbuilding sector, which is heavily concentrated in East Asia.

Vietnam has now emerged as one of the world's seven largest shipbuilding nations.

After three years of restructuring, HD Hyundai Vietnam Shipbuilding has returned to profitability and is viewed as a successful example of overseas expansion by South Korea's shipbuilding industry.

The company reported sales of US$672.25 million in 2025, up from $546.62 million in 2023, while operating profit rose 60 percent over the same period to $20.23 million.