HD Hyundai's chairman held talks in Seoul with India's petroleum and natural gas minister to expand cooperation in shipbuilding and maritime industries. The meeting is part of India's Maritime Amrit Kaal Vision 2047 project, aimed at positioning the country among the world's top five shipbuilding nations.
On November 13, HD Hyundai Chairman Chung Ki-sun met with Hardeep Singh Puri, India's minister for petroleum and natural gas, in Seoul. According to a company press release, the talks focused on exploring partnerships to enhance India's shipbuilding capabilities and advance related technologies.
The Indian delegation's visit to South Korea is part of the government's key initiative, the Maritime Amrit Kaal Vision 2047 project. This plan aims to position India among the world's top five shipbuilding nations by increasing the number of commercial vessels from the current 1,500 to 2,500. To achieve this, the Indian government plans to invest US$24 billion in the initiative, with an initial $8 billion announced in October to support new vessel construction.
"HD Hyundai will be the best partner to help advance India's shipbuilding industry based on mutual trust," Chung said in the release. Minister Puri expressed hope that regular exchanges between the Indian government and HD Hyundai would further strengthen cooperation in the shipbuilding and maritime sectors.
In July, HD Hyundai signed a partnership agreement with India's state-owned Cochin Shipyard Ltd. to promote bilateral cooperation in shipbuilding, marking the first such partnership between a South Korean shipbuilder and an Indian company. This meeting signals potential for deeper ties in the sector between the two nations.