Hyundai Heavy '50th Anniversary'... Chairman Kwon Oh-gap "Starting a New 50 Years Following Chung Ju-yung's Creative Foresight"

50th Anniversary Commemorative Message from Executives and Employees

Kwon Oh-gap, Chairman of Hyundai Heavy Industries Group. (Photo by Hyundai Heavy Industries Holdings)

[Asia Economy Reporter Moon Chaeseok] Kwon Oh-gap, Chairman of Hyundai Heavy Industries Holdings, expressed his ambition on the 24th, marking the 50th anniversary of the group's founding, to start a new 50 years by emulating the entrepreneurial foresight of the late Chung Ju-yung, the founder and Honorary Chairman of Hyundai Group.

In a 50th anniversary message distributed to group executives and employees on the same day, Chairman Kwon said, "Today marks the 50th anniversary of the founding of our parent company, Hyundai Heavy Industries, and the history of Hyundai Heavy Industries is the history of the group." He added, "Over the next 50 years, we will create the highest value in all sectors through innovative thinking and creative activities."

Chairman Kwon diagnosed, "The 50 years of Hyundai Heavy Industries have been a history of numerous challenges, but the last 10 years have been the most difficult since its establishment." He said, "The prolonged downturn in shipbuilding and offshore industries was the biggest cause, but we also bear responsibility for not properly preparing for the future while resting on being 'world number one.'"

He emphasized, "There will be many ups and downs and difficulties ahead, but we must never again cause pain to our colleagues and local communities." He added, "To do so, we must thoroughly prepare for the new 50 years and unite our thoughts and will."

Chairman Kwon stressed that 'newness' (新) and 'change' (變化) are important for the new 50 years, referring to the entrepreneurial spirit of Honorary Chairman Chung who founded Hyundai Heavy Industries 50 years ago.

He said, "The 'creative foresight' of deciding to build a shipyard at the age of 57 in 1972 created today's Hyundai Heavy Industries Group." He urged, "Creative foresight is the beginning of new change. I hope you continuously ask questions, reach conclusions, and strongly implement them."

Chairman Kwon also reiterated the importance of technology development, mentioning the group's future businesses such as autonomous navigation systems, decarbonized future ships, eco-friendly biofuels, and smart factories.

He also anticipated that the move-in to the Pangyo Global R&D Center (GRC), starting this November, will be an important turning point for the group.

Chairman Kwon said, "I sincerely pay tribute to the many seniors, colleagues, and juniors who have overcome numerous difficulties and crises to lead us to become a '50-year national company' until today."

This content was produced with the assistance of AI translation services.