Daehan plans major shipyard in South Jeolla

Daehan Shipbuilding, a fledgling Korean shipbuilder, said yesterday it will construct a shipbuilding complex on 4,628 acres in Haenam, South Jeolla province.
With completion slated for 2012, the complex would have Korea’s largest shipbuilding capacity.
The complex will include a shipyard and parts factory as well as marine plant production facilities, according to the company.
The shipyard will occupy 735 acres.
Construction of the first dock, 310 meters (1,017 feet) long and 72 meters wide, is underway and about 40 percent complete. Work on the second and third docks begins late next year.
Daehan claims its dock will be bigger than the world’s largest dock, operated by Hyundai Heavy Industries in the southeastern port city of Ulsan.
If completed, Daehan Shipbuilding said its shipyard will exceed the top three global players in annual shipbuilding capacity.
Daehan forecasts capacity at 4.2 million compensated gross tons, while Hyundai Heavy, Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering now produce 2.7, 2.25 and 1.7 in compensated gross tonnage.
Park Jae-young, vice chairman of the shipbuilding business division of Daeju Group, said, “At the initial stage of operation, we will focus on obtaining orders for bulk carriers and small- and medium-sized container vessels to distinguish ourselves from rivals.”
“We will gradually turn to high value-added ships, such as bigger container ships and liquefied natural gas carriers,” he added.
Daehan Shipbuilding is targeting 4.3 trillion won ($4.6 billion) in annual sales in 2012, according to Mr. Park. The company also plans to create 60,000 new jobs in the neighboring region. Daewoo Shipbuilding employed 90,000 workers in Geoje, South Gyeongsang province, as of last year. Daehan Shipbuilding was launched in 2004 after Daeju Group took over Sinyeong Shipbuilding Industry. Daeju Group posted sales of 1.7 trillion won last year. The group runs 15 subsidiaries.

By Seo Ji-eun Staff Writer [spring@joongang.co.kr]