HHIC Group Converts to
Holding Company System

The construction unit, a pioneer of national infrastructure development

Hanjin Heavy Industries & Construction (HHIC) Group is a heavy industry company with a world-class competitive edge based on capabilities and advanced technology specializing in two business areas - shipbuilding and construction.
Last month, the group announced their plan to change its management system into a holding company system where the company and subsidiaries take their own management responsibility in order to ensure management transparency. Each unit is stepping on the gas pedal to move forward under the responsible management system designed to focus on core businesses through its own optimized strategies and efficient distribution of management resources.
HHIC is making all-out efforts to develop the newest and innovative production methods through new technology and patent development by capitalizing on a backlog of work for the next three years. The construction unit placed 12th in the domestic ranks of construction performance capability and ranked 99th globally.
The shipbuilding unit has been listed as the global top 10 biggest shipbuilding companies and one of the globally best shipbuilding companies for 15th consecutive years. HHIC is taking the lead in opening an abundant, wonderful future by making the most of a solid financial standing and diverse achievements it made in Korea and abroad.
HHIC posted 2,595.8 billion won in sales and a record high of 97.8 billion won in operating income during last year. It aims to rake in 4 trillion won worth of orders and 2.8 trillion win in sales and more than 110 billion won in operating income.
PIONEER IN THE CONSTRUCTION OF NATIONAL INFRASTRUCTURE. The construction unit marked milestones in the history of Korean construction. The company has achieved many accomplishments as a pioneer of modern construction in the construction field as an example of building the Seoul Marine Center, the first steel-framed building in Korea, during 1968.
HHIC has led the way in lifting the domestic construction industry one stage higher
as it contributed to the development of the national economy by not only participating in such large-scale state projects as airports, roads, bridges, railways, ports and dredging, but also developing and importing new technologies.
Of late, the company landed some high profile domestic infrastructure projects like the construction of the Incheon International Airport Phase II passenger terminals and runways, Seongnam-Yeoju double-track railway, housing redevelopment project in Gaya-dong, Busan, Busan National University hospital in Yangsan and Imha Dam emergency waterway project, and such large-scale projects like the construction of Seogang Haemoro apartment and Busan South Port Bridge are under way.
HHIC cut a prominent figure in the construction of airports linking the global skies with its own domestic technology and achievements differentiating other Korean contractors. The company has built domestic airports, including Gimpo, Gimhae, Daegu, Yangyang, Ulsan and Jeju airports.
HHIC won the World Best Airport Award during the 2nd Airport Service International Conference, jointly organized by IATA and ACI as it has played leading roles in the construction of Incheon International Airport, emerging as a hub airport of Northeast Asia.
The civil engineering field is one of the sectors in which HHIC has demonstrated its excellent technologies and capabilities. The company has been not only contributing to the development of the national economy by focusing on the construction of such infrastructure as roads, ports, bridges, dams and airports, but also spearheading efforts to upgrade the domestic construction technology level. By cashing in on advanced expertise and experiences it has accumulated, the company has carried out subway projects in major cities like Seoul, Busan, Incheon and Gwangju in a seamless fashion. The company has a track record of biggest achievements in the dredging/reclamation field. KHIC has successfully undertaken such mega-projects as the infrastructure buildup of Incheon International Airport,
Busan New Port and KTX projects. In particular, the company has achieved many construction firsts like shortening the construction period and seamless construction of Yeongjong Bridge by overcoming such unfavorable construction conditions as the big difference of the ebb and flow.
KHIC is a pioneer of Korea's overseas construction projects. Starting with a piped waterworks project in Ponape, the former U.S. Trust Territory, in 1971, Hanjin Heavy Industries has pioneered in exploring the overseas construction market as it became the first Korean company to enter Malaysia in 1972, Saudi Arabia in 1973 and Iran in 1975. Hanjin has become a prominent company in every nook and corner of the world, including Iraq, Nigeria, Guam, the United States, Japan, Hong Kong and China. HHIC is currently topping the list of construction performance capabilities among foreign contractors in the Philippines.
HHIC's construction unit aims to make a leap forward as a global heavy industry leader outfitted with advanced and differentiated technology power in the
21st century by aggressively participating in airport, port and road construction in accordance with the government's scheme to develop Korea into a logistics center of Northeast Asia. Hanjin is putting more energy into raising its competitive edge to land technology-intensive turn-key and SOC mega-projects.
Inheriting the management philosophy cherished by the late Cho Choong-hoon, the founder of HHIC, with the belief that corporations are humans and business is an art. HHIC places top priority on the development of gifted manpower to further the progress of the company. In April of this year, HHIC declared a further evolved version of a new management philosophy "Creative Management"to further the development of its human resources. Hanjin does not spare investments to foster "Creative manpower"that enables the company to create value, trust and ensure a bright future.
HHIC is offering diverse educational programs related to technology and management capability in job execution ranging from overseas on-the-job-training programs of recruits to top manager courses. The company is providing self-development opportunities to employees who want to develop themselves on computing, on-the-job performance improvement training and vocational training in an age of globalization. HHIC is making its utmost to cultivate leaders with job-related management expertise and management mindsets by jointly operating regular MBA master's courses with Korea's prestigious universities.
PREMIUM APARTMENT BRAND "HAEMORO."HHIC has launched its new apartment brand "Haemoro,"meaning literally ever-sun shining apartments last August.
HHIC has a goal to create a residential space with brand tenets of nature and eco-friendliness. The company plans to upgrade existing apartments into the ones with design for improved lighting, use of eco-friendly interior finish materials and the construction of diverse, eco-friendly theme parks for neighborhood residents. It produced a television commercial starting well-known movie actor Cho Seung-woo to publicize the brand's eco-friendly premium image. Hanjin E&C, the predecessor of HHIC, undertook numerous apartment projects, including Hanjin Town in Dongsomun, Seoul, Korea's first housing redevelopment project.
HHIC aims to develop housing business as its new corporate growth engine and lift Haemoro as an eco-friendly, premium brand to make a full-fledged entry into the housing market. The company envisages a leading apartment builder by making the most of its strength in the civil engineering field to beef up its housing business. nw

(left photo) A section of the Seoul-Busan High-speed Railroad, done by Hanjin Heavy Industries & Construction. Lee Kang-rok, president of HHIC's construction division.

HHIC's premium apartment brand "Haemoro."

HHIC participated in the Yeongjong Grand Bridge (top photo) and Incheon International Airport projects.