HD Hyundai acquires Doosan Vina for $207M, expanding shipbuilding in Vietnam to boost eco-friendly components and increase vessel output by 2030.
 |
| Doosan Vina manufacturing plant in Dung Quat, Quang Ngai, Vietnam. (Photo: Courtesy of Doosan Vina) |
HD Hyundai has moved to strengthen its global shipbuilding network by purchasing Vietnam-based Doosan Vina from Doosan Enerbility in a deal valued at roughly $207 million (290 billion won). The acquisition, carried out through HD Korea Shipbuilding & Offshore Engineering (HD KSOE), provides Hyundai with a critical production hub in Southeast Asia, enabling the company to broaden its reach in the region’s fast-growing maritime sector.
Doosan Vina, located near Da Nang and operating since 2006, manufactures heavy industrial equipment such as port cranes, LNG storage tanks, and thermal power plant boilers. By integrating this facility, HD KSOE aims to enhance its production of eco-friendly ship components and expand its crane business, directly targeting rising demand in Asia. The move also reflects Hyundai’s strategy to counter Chinese competition by reinforcing its offshore supply chain.
The acquisition aligns with Hyundai’s broader plan to increase its shipbuilding capacity in Vietnam. Current output of around 12 ships per year is set to rise to 15 annually in the near term, with ambitions to scale up to 23 vessels by 2030. Industry observers note that the addition of Doosan Vina will help HD Hyundai accelerate this roadmap by securing localized production capabilities and reducing dependency on domestic facilities.
By embedding itself deeper into Vietnam’s industrial base, HD Hyundai is positioning to meet surging global orders for LNG carriers and environmentally advanced vessels, while also ensuring cost competitiveness in the face of aggressive Chinese and Japanese rivals.