South Korea’s three largest shipbuilding groups — HD Korea Shipbuilding & Offshore Engineering, Hanwha Ocean and Samsung Heavy Industries — generated combined first-half 2026 revenue of KRW31.854 trillion ($22.49bn) and operating profit of KRW4.7764 trillion ($3.37bn), according to filings with South Korea’s Financial Supervisory Service.
Revenue rose 23.4% year on year and operating profit increased 72.4%.
HD Korea Shipbuilding & Offshore Engineering, or HD KSOE, posted first-half revenue of KRW17.0679 trillion ($12.05bn), up 20.2%, and operating profit of KRW3.0011 trillion ($2.12bn), up 65.6%. Second-quarter revenue rose 20.2% to KRW8.927 trillion ($6.30bn), operating profit climbed 72.5% to KRW1.6451 trillion ($1.16bn), and net profit reached KRW1.5942 trillion ($1.13bn), more than three times the year-earlier level. Its shipbuilding affiliates secured $16.38bn of first-half orders, equal to 96.2% of their annual target, including LNG carriers, very large gas carriers and tankers.
Hanwha Ocean recorded first-half revenue of KRW8.6531 trillion ($6.11bn), up 34%, and operating profit of KRW1.1772 trillion ($831m), up 86.8%. Second-quarter revenue rose 65.2% to KRW5.4432 trillion ($3.84bn), operating profit increased 98% to KRW736.1bn ($520m), and net profit climbed 366.4% to KRW692.6bn ($489m). First-half orders totalled $4.35bn, including six LNG carriers, 15 VLCCs, three very large ammonia carriers and one wind turbine installation vessel. Its backlog stood at $33.77bn at end-June.
Samsung Heavy Industries posted first-half revenue of KRW6.133 trillion ($4.33bn), up 18.5%, operating profit of KRW598.1bn ($422m), up 82.4%, and net profit of KRW322.9bn ($228m), up 6.7%. Second-quarter revenue rose 20.4% to KRW3.2307 trillion ($2.28bn), operating profit increased 58.7% to KRW325bn ($230m), and net profit was KRW222.8bn ($157m), up 4.9%. Orders stood at $9.6bn at end-June and reached $10bn after two tanker contracts on July 8.
