From Ship Supplies to Defense... Maeilmarine Launches as a Global Marine Tech Group

A 30-Year Journey: Transformation of a Ship Supply Specialist
Accelerating Business Diversification Through Aggressive Mergers and Acquisitions
Achieving Vertical Integration with Maeil Cerachem

"Based on our distribution and manufacturing expertise, we will transform ourselves into a global marine tech group spanning both shipbuilding and defense industries."

Myeongjin Kim, CEO of Maeilmarine and Chairman of the Main Biz Association (Korea Management Innovation Small and Medium Enterprise Association), made this statement at a press briefing hosted by the association on the 23rd at the office building of the Changwon Plant near Masan Gaposhinhang in Changwon, Gyeongnam Province. This marks the announcement that Maeilmarine, whose core business was ship supply distribution, is evolving into the 'Maeilmarine Group' by expanding its business scope to include defense materials.

Myungjin Kim, CEO of Maeil Marine and Chairman of the Main Biz Association, is explaining the production and delivery process of marine plant panels at Maeil Marine's Changwon factory in Changwon, Gyeongnam on the 23rd. Main Biz Association

The Changwon Plant is a key production base symbolizing Maeilmarine's business diversification and global expansion. Prior to the briefing, the inside of the plant was revealed to be filled with the sparks and roar of welding marine plant steel panels. The produced panels are exported to Indonesia via the dock, assembled locally, and then used in the 'BalWin4' project—part of a 2-gigawatt (GW) offshore wind power grid project worth approximately 45 trillion won, ordered by the Dutch state-owned power company TenneT.

Sitting on a site of 20,000 pyeong (66,000 m²), the Changwon Plant houses three factory buildings of about 900 pyeong (3,000 m²) each, a painting building, and a storage yard. The plant specializes in manufacturing large structures such as onshore and offshore plants, ship parts, and ship blocks. In 2020, Maeilmarine acquired this plant by merging SAS, Korea’s No. 1 cell processing company, as its plant business division, and has since enhanced its facilities to build global competitiveness.

Exterior view of the Maeil Marine Changwon Factory. Google Maps

On this day, CEO Kim also announced a plan to expand the Changwon Plant. He stated, "We will invest 10 billion won to construct an additional factory building 165 meters long and an entrance 25 meters wide, completing a one-stop logistics system," and added, "At the new plant, we plan to manufacture drones for ships." The completion ceremony for the new headquarters, held later that afternoon in Namhang-dong, Yeongdo-gu, Busan, further showcased the commitment toward building the 'Maeilmarine Group.'

Business Diversification Strategy Through Aggressive Mergers and Acquisitions

Maeilmarine, which started as a ship supply distributor in 1992, has grown over 30 years by establishing a port logistics system based on Busan Port. By supplying over 10,000 types of ship supplies and provisions to more than 100 companies including Hyundai Glovis and HMM, based on timely delivery in line with ship schedules and a 24-hour response system, the company has developed a strong track record. Maeilmarine is the only leading maritime logistics company in Busan to have obtained all International Organization for Standardization (ISO) certifications 14001 (environment), 9001 (quality), 45001 (occupational safety and health), and 22301 (business continuity). In 2022, through the Ministry of SMEs and Startups' 'Smart Service Support Project for SMEs,' the company established an automated quotation system based on ship supply order and delivery systems and RPA (Robotic Process Automation), further strengthening its competitive edge.

On the 23rd, a worker is welding a marine plant steel panel at the Maeil Marine Changwon Factory in Changwon, Gyeongnam. Photo by Ho-Kyung Choi

In recent years, CEO Kim has embarked on aggressive mergers and acquisitions (M&A) to diversify the business and overcome the growth limits of the distribution sector. First, in 2018, the company acquired Sehwa Machinery, securing precision processing capabilities for ship engine parts. Sehwa Machinery produces components related to turbochargers, as well as rotor shafts and crosshead pins for large ship engines from Hyundai Heavy Industries, leading the localization of critical equipment. In 2020, the company merged with SAS, establishing a foundation for shipbuilding and plant construction. In 2025, by acquiring Samyang Trading, Maeilmarine secured a Northeast Asia supply chain for chemicals and products, based on a partnership with the global ship supply company Wilhelmsen Ships Service.

The Last Puzzle in Group Formation: 'Advanced Materials'

Maeil Cerachem, established in 2023, is the final piece of CEO Kim's vision for the 'Maeilmarine Group.' By vertically integrating Maeil Cerachem (materials), Sehwa Machinery and the Changwon Plant (manufacturing), and Maeilmarine and Samyang Trading (procurement), the company aims to establish a structure for generating high added value.

Maeil Cerachem develops high-performance ceramic materials with ballistic, fire-resistant, and electromagnetic interference (EMI) shielding properties. The goal is to provide customized industrial solutions for the construction, shipbuilding, plant, and defense sectors. In particular, the lightweight ballistic materials are said to increase survivability in the event of an attack by maintaining performance while reducing thickness and weight when applied to ships. The company’s EMI shielding and X-ray shielding technologies have achieved 99.98% radiation shielding, which is cited as having potential for next-generation naval stealth coatings and nuclear and security facilities. CEO Kim projected, "Maeil Cerachem’s sales will begin in earnest within two years."

On the 23rd, at the Maeil Marine's new office building completion ceremony in Namhang-dong, Yeongdo-gu, Busan, attendees including Myungjin Kim, CEO of Maeil Marine, are cutting the tape. Mainbiz Association

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