HANJIN HEAVY INDUSTRIES

- Strong turnaround driven by improved shipbuilding performance and steady order intake in the construction division
- Consolidated revenue of KRW 1.2713 trillion and operating profit of KRW 89.4 billion in the first half, with net profit of KRW 88.1 billion, putting the company back in the black
- The shipbuilding division led the overall improvement in performance, with revenue up 75.5% and operating profit reaching KRW 81.7 billion

- A Panoramic View of HJSC’s Yeongdo Shipyard

HJ Shipbuilding & Construction (HJSC) reported a strong earnings turnaround in the first half of 2026, driven by a significant improvement in its shipbuilding business and steady order intake in the construction division.

HJSC announced on July 12 that, on a consolidated basis, it recorded revenue of KRW 1.2713 trillion, operating profit of KRW 89.4 billion, and net profit of KRW 88.1 billion in the first half.

Compared with the same period last year (KRW 917.8 billion in revenue, KRW 10.8 billion in operating profit, and KRW 1.1 billion in net loss), revenue increased 38.5%, while operating profit surged more than eightfold. Net profit also marked a significant turnaround, putting the company firmly back in the black.

The shipbuilding division was the main driver of the strong first-half performance. Its results improved sharply as construction of eco-friendly, high-value-added container ships for the commercial vessel business gained momentum, while the stable profitability of its special-purpose vessel business, including defense vessels, also contributed to the improvement.

The shipbuilding division recorded first-half revenue of KRW 678.6 billion, up 75.5% from KRW 386.6 billion in the same period last year, while operating profit reached KRW 81.7 billion, driving the overall improvement in results.

- HJSC Construction Division, Seoul Office Building- HJSC Construction Division, Seoul Office Building

The construction division also maintained a stable profit trend despite pressure from rising raw material costs, supported by the steady progress of public works, housing, and civil engineering projects. The division recorded first-half revenue of KRW 584.4 billion and operating profit of KRW 7.8 billion.

Going forward, the multinational shipbuilding company plans to maintain its selective, profitability-focused approach to securing new orders through thorough process and risk management, while ensuring the smooth execution of major national infrastructure projects, including the Shinbundang Line and GTX, as well as urban redevelopment and renovation projects, to further strengthen its financial fundamentals.

An HJSC official remarked, “Our efforts over the past years to focus on profitable orders, improve construction efficiency, and reduce costs are now beginning to bear fruit.” He continued, “By securing orders for eco-friendly, high-value-added vessels in the shipbuilding division and maintaining a stable portfolio in the construction division, we will continue our growth in the second half and further enhance our long-term competitiveness and shareholder value.”