Hyundai Mipo stock shifts into HD Hyundai Heavy Industries
Published on 10/07/2026 at 05:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Hyundai Mipo stock (ISIN KR7010620003) entered a new corporate structure on December 1, 2025, when HD Hyundai Heavy Industries absorbed HD Hyundai Mipo. The shipyard remains active in specialized vessel construction, including a program for eight 90,000 m3 very large gas carriers.
Merger approval set the structure
According to HDJH on October 23, 2025, shareholders approved the merger with 98.54 percent support at HD Hyundai Heavy Industries and 87.56 percent at HD Hyundai Mipo. The combined company was scheduled to begin operations on December 1, 2025.
The transaction brought Hyundai Mipo's docks, equipment and workforce into the larger shipbuilding platform. The stated strategic aim was to combine naval construction expertise with Mipo's facilities and expand the group's position in specialized vessels and defense shipbuilding.
Eight VLGCs support yard activity
The Mipo yard is building eight very large gas carriers for BW LPG, each with a capacity of 90,000 m3, according to Ship and Bunker on September 23, 2026. The agreement was signed in August 2026 and includes cargo handling and LPG fuel supply systems supplied by Nord Gas Solutions.
The project marks the first VLGC construction program at the yard within the HD group, giving the former Hyundai Mipo operation a new role in gas carrier production. For investors, the order matters because it links the yard's traditional mid-sized shipbuilding profile with a larger gas carrier segment.
Revenue target reaches KRW 37 trillion
The combined group has set a 2035 revenue target of KRW 37 trillion, including KRW 10 trillion from defense, compared with KRW 19 trillion in 2024, according to HDJH. That implies a target of 1.95 times the 2024 level, making integration and order conversion central to the long-term investment case.
The merger also combines research and design capabilities, with the stated goal of reducing development time and responding faster to environmental rules. The eight-vessel VLGC program provides a concrete operating example of how the Mipo yard fits into the integrated shipbuilding platform.
Hyundai Mipo operates within the combined group
Hyundai Mipo's current business identity is tied to the HD Hyundai Heavy Industries platform, while its Ulsan yard continues to deliver commercial vessels. The December 1, 2025 merger date and the eight-vessel 2026 construction program define the company's transition from a standalone name to an integrated shipbuilding operation.
Hyundai Mipo stock at a glance
- Company: HD Hyundai Mipo Dockyard
- ISIN: KR7010620003
- Sector / Industry: Industrials / Shipbuilding
