HD Hyundai and Hyundai Engineering expand South Korean power infrastructure

  • HD Hyundai Heavy Industries plans 1.0722 trillion won for HiMSEN and SMR equipment facilities.
  • HD Hyundai targets 7.2 GW of total HiMSEN production capacity by 2030.
  • Hyundai Engineering won preferred bids for two power projects worth 2.3826 trillion won.

HD Hyundai Heavy Industries plans to invest 1.0722 trillion won in a HiMSEN engine production base and a small modular reactor equipment plant, while Hyundai Engineering has been selected as preferred bidder for two South Korean power projects worth 2.3826 trillion won. The investments and awards target electricity demand from AI data centers, semiconductor manufacturing and industrial activity, while supporting expansion into hydrogen, SMRs and other next-generation energy infrastructure. HD Hyundai will spend 833.6 billion won on a 215,000-square-meter Onsan-eup facility with annual capacity of 3 GW, and 238.6 billion won on an SMR equipment plant at its Ulsan shipyard. The OECD projects the global SMR market will reach 150 GW by 2050. Hyundai Engineering will develop a 1,050MW combined heat and power plant for the Yongin Semiconductor Cluster and a 500MW LNG combined-cycle plant in Yeosu. Both Hyundai Engineering facilities are designed for future hydrogen co-firing and eventual hydrogen-only operation.

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