HANJIN HEAVY INDUSTRIES

- Secures KRW 1.6 trillion in new construction orders in the first half… already surpassing last year’s total 
 annual order amount
- Spearheads the resurgence of domestic cranes amidst competition from low-cost Chinese alternatives

- Transfer Cranes at Busan New Port Phase 2-5

On July 2, HJ Shipbuilding & Construction (HJSC) announced that its construction division had won the contract for the Busan New Port West Container Terminal Phase 2-6 Transfer Crane Installation Project commissioned by the Busan Port Authority.

This project follows Busan New Port Pier 7 (Phase 2-5), which became South Korea's first fully automated terminal upon its opening in April. The multinational constructor was also involved in Phase 2-5 of the project, overseeing both the construction work and the installation of transfer cranes.

The phase 2-6 project entails manufacturing and installing 34 transfer cranes, with a total construction cost of KRW 187 billion and a projected duration of 36 months.

Transfer cranes are systems designed to stack containers in yards or load/unload them onto automated guided vehicles (AGVs) or trailers. Historically, Korean port cranes enjoyed global prominence until the early 2000s, securing orders from various countries. However, from the mid-2000s onward, they faced increasing competition from more affordable Chinese alternatives. By 2006, domestic production had ceased as a consequence of this shift.

It has been nearly two decades since domestically produced container cranes made a return to Busan Port. With the launch of the phase 2-5 project, the Busan Port Authority opted to introduce domestic cranes to stimulate related industries in South Korea, secure automation technologies, and prevent information leakage abroad—critical concerns in the global port industry. 

After successfully installing 34 transfer cranes during phase 2-5 last year, the multinational constructor has now secured another contract for 34 transfer cranes in phase 2-6. HJSC is at the forefront of revitalizing Korean crane production.

Meanwhile, the South Korean constructor has forecasted significant growth for this year, having secured a total of KRW 1.6 trillion in new construction contracts in the first half alone. This figure already surpasses last year's total construction contract amount of over KRW 1.5 trillion.

Notably leading in public construction, the company has secured major contracts such as the GTX-B construction project and the Saemangeum Airport Construction Project consecutively across architecture, civil engineering, and plant construction sectors, totaling over KRW 1 trillion. HJSC has achieved the top position in contract awards for the first half within the public construction sector.

Furthermore, the global constructor has bolstered the brand recognition of its housing brand 'HAEMORO' in the market, achieving an annual growth rate of over 20% in recent years. This success stems from a strategic focus on stable redevelopment and reconstruction projects within the urban improvement sector.

An official from HJSC remarked, “Despite the downturn in the construction market, we capitalized on our strengths in specialized fields during the bidding process, leading to a notable rise in contract awards compared to last year.” He continued, “In the second half, we will persist in building a solid foundation for growth by securing profitable and high-quality contracts.”