Hyundai Heavy Industries Group’s Chairman Kwon Oh-gap. (Photos: HHI Group)

Doosan Heavy Industries and Construction said on Dec. 10 a consortium, headed by Hyundai Heavy Industries (HHI), was selected as a preferred negotiator for a controlling stake in Doosan Infracore, currently held by Doosan Heavy Industries and Construction.

A consortium, led by HHI, and Eugene Group participated in a bidding to dispose of a 36.07 percent stake in Doosan Infracore.

Construction industry sources said if Hyundai Construction Equipment, a subsidiary of HHI Group, will acquire Doosan Infracore, it will have synergetic effects.

Doosan Infrastructure specializes in construction machinery business and engine business. Hyundai Construction Equipment’s merger with Doosan Infrastructure will be a boon for the former sans the engine business, and the merged entity will rank 10th in the global machinery market, they said.

Korea Shipbuilding & Offshore Engineering (KSOE), the holding company of HHI Group, successfully won orders to build four LNG carriers and two very large crude carriers (VLCC) worth 1 trillion won from European shipping companies.

HHI Collaborates on Joint AI Research & Tech Development

Hyundai Heavy Industries (HHI) Group, Korea’s representative manufacturing conglomerate, jointly hosted “AI One Team Summit” at Andaz Seoul Kangnam on Sept. 25. The event was held to look into the future AI industry of Korea in cooperation with other companies.

Joining HHI was nine members of “AI One Team,” an industry-academic collaboration alliance to explore new business opportunities in the field of artificial intelligence (AI).

They include: KT, Korea Advanced Institute of Science and Technology (KAIST), Hanyang University, and ETRI (Korea Electronics and Telecommunications Research Institute), LG Electronics, LG Uplus, Korea Investment & Securities (KIS), and Dongwon Group.

Among those on hand at the event were Senior Executive Vice President Chung Ki-sun, KT President Koo Hyun-mo, Senior Executive Vice President Lee Sang-min of LG Uplus, KIS President Chung Il-moon, Vice Chairman Park In-gu of Dongwon Group, KAIST President Shin Sang-chul, Hanyang University President Kim Woo-seing, ETRI Vice President Park Sang-gyu, and 2nd Vice Minister Chang Suk-young of the Ministry of Science and ICT (MSIT).

HHI and eight other members of the AI One Team are collaborating in joint AI research and technology development since its launch in February.

Starting with the outcomes by the AI One Team secretariat, the event had sessions to share developments of AI research and technology development as well as how to implement priority tasks in the future.

In particular, HHI Group is responsible for conducting robot tasks using AI. The group is working on a joint development with members of the AI One Team.

They have joined forces in the development of intelligent service robots and upgrading them, and outcomes are expected to be made available in late this year.

Joint efforts are being made on the development of robots adopting AI technologies, which will be used at hotels, restaurants and other establishments. The use of robots in the conventional industry field will be expanded to cover businesses such as the service sector.

HHI Group also plans to continue research on ramping up safety, like the use of 360 degree wearable neck bands based on 5G infrastructure.

A HHI Group official said, “Now that industry, academia and research circles, representing Korea, have been engaged in joint research of AI, a future technology, synergetic effects are expected to come.”

HHI group will become a leading company to spread digital transformation by coping with the 4th Industrial Revolution nimbly and promoting close cooperation, the official added.

HHI Group Retains Current Top Executives

HHI Group carried out a reshuffle in which all current top executives were retained. The group promoted four executives, including Executive Vice President Kim Jae-eul, who was promoted to president.

Eighteen vice presidents, including Ahn Oh-min, were promoted to executive vice president, while 48 assistant vice presidents were promoted to vice president.

Senior Executive Vice President Chung Ki-sun, an heir-apparent and son of Chairman Chung Mong-joon of the Asan Foundation, was rumored to get a promotion, but it was not included in the latest reshuffle.

A HHI group official said the latest reshuffle may be construed as the group’s willingness to secure continuity amid the spread of the COVID-19 pandemic, and concentrating all capabilities to tide over the crisis.

The latest reshuffle will allow management to establish the management plan between 2021 and 2022 as early as possible and take preemptive steps to implement details, the official added.