HANJIN HEAVY INDUSTRIES

- The El Salvador presidential delegation visits HJSC’s Yeongdo Shipyard for the construction of repair shipyard

-  Yeongdo Shipyard

On June 29, HJ Shipbuilding & Construction (HJSC) welcomed the El Salvador delegation which visited the ROK for the construction of a repair shipyard and ports at the invitation of the Korea Ports & Harbors Association (KPHA) Overseas Port Development Cooperation Support Center. The global shipbuilder also set out actively to help Busan host the World EXPO 2030 by watching a promo video with the delegation. 

This visit resulted from the expansion of economic cooperation between the two countries with regard to El Salvador’s Loss Chorros Bridge & Road Construction Project. The Economic Development Cooperation Fund (EDCF) and the Central American Bank for Economic Integration (CABEI) agreed to support the project. 

The goals of the Los Chorros Project are to expand a road connecting San Salvador, the capital of El Salvador, with the western region and construct a bridge bypassing landside-prone areas. The total project cost is US 430 million dollars, with US 210 million and US 200 million dollars being contributed by the EDCF and the CABEI respectively. 

The figure above represents the EDCF’s largest loan on a single project in Latin America. In March, DONGBU Corporation, an affiliate of HJSC, successfully won the contract. 

The delegates include Sigfredo Edgardo Figueroa (director of the Strategic Planning Office of the Presidential Office), Raul Castaneda (director of CABEI El Salvador) and Jaime Jose Lopez (El Salvador ambassador to the Republic of Korea). 

As the nation’s first shipyard, HJSC demonstrated its extensive manufacturing knowhow and advanced technology, which have been accumulated through the construction and operation of the Jeddah Repair Shipyard in Saudi Arabia and the Subic Shipyard in the Philippines. 

In particular, the South Korean shipbuilding company operated the Jeddah Repair Shipyard for 5 years from 1982 to 1987, establishing the ground for shipyard operation and worker training in Saudi Arabia. It was the first time for South Korean shipbuilders to transfer their shipyard-operating, not shipbuilding, knowhow in foreign countries. 

An official from HJSC said, “We hope that our extensive experiences and advanced technologies would be of great help to the El Salvador’s Repair Shipyard Project.” He continued, “We look forward to strong cooperation and trust between the two countries.”