Gunsan Shipyard Near Ownership Change as HD Hyundai and Eco Prime Pursue Transfer
South Korea’s Gunsan shipyard has a new potential owner. Eco Prime Marine Pacific, a Busan-based company led by HJ Heavy Industries, and HD Hyundai Heavy Industries have signed a memorandum of understanding to pursue the transfer of control of the Gunsan yard, according to regional officials.
Eco Prime Marine Pacific operates from Yeongdo, Busan, and is part of a group that includes the former Hanjin Heavy Industries. The company was formed by a special purpose vehicle established by East Construction to pursue Hanjin’s management rights, and its interest in Gunsan aligns with a plan to expand Korea’s shipbuilding footprint.
The Gunsan yard is a significant asset for Korea’s shipbuilding sector. It hosts a 700-meter dry dock and a 1,650-ton gantry crane, positioning it for large-scale vessel construction. HJ Heavy Industries has been pursuing ongoing orders from foreign shipping lines and is involved in the MASGA project—a Korea-U.S. shipbuilding collaboration that includes maintenance of U.S. Navy vessels.
Even if Gunsan changes hands, HD Hyundai Heavy Industries has signaled it would continue to support the yard. The plan reportedly includes committing to three years of block orders and providing automation and smart-shipping technologies to help integrate Gun san into a broader, modernized production network.
Local officials welcomed the move. Jeonbuk Province Governor Kim Kwan-young said the combination of Korea’s leading shipbuilding capabilities with the experience of a traditional, well-established firm could create a robust, revived facility in Gunsan. He stressed the importance of a diligent process to ensure success.
Business leaders in the region echoed the sentiment, noting the potential for a regional economic upswing. They pointed to renewed investment and heightened attention that could accompany a successful deal, with Gunsan poised to serve as a growth engine for Jeollabuk-do’s economy.
The final agreement is expected to follow due diligence and be finalized within the year. For the United States, the development matters because it highlights ongoing globalization and consolidation in shipbuilding, with potential implications for defense supply chains, joint Korea-U.S. programs like MASGA, and broader stakes in maritime technology and capacity.