HJ Heavy Industries "Establishing MRO Cluster"... Partnered with 10 Companies

[Financial News] HJ Heavy Industries has embarked on establishing a cluster council for the maintenance, repair, and overhaul (MRO) business with local shipbuilding and equipment companies. As domestic and international MRO demand is expected to increase, the plan is to establish a foundation for mutual cooperation with the local shipbuilding industry and use it as a bridgehead for overseas expansion.
HJ Heavy Industries announced that on the 22nd, at the Yeongdo Shipyard in Busan, it held an 'MRO Cluster Council Business Agreement Ceremony (MOU)' with 10 specialized companies related to shipbuilding in the Busan and Gyeongnam regions, including International Marine and Orient Shipbuilding, for the development of the MRO industry and mutual growth.
Companies including HJ Heavy Industries will strive to efficiently utilize resources and capabilities such as technology, manpower, resources, facilities, and know-how owned by each company to achieve successful business outcomes and will closely cooperate in MRO business bidding and execution.
As the U.S. Navy MRO market, estimated at 20 trillion won, opens up, domestic defense companies are also entering the market. Especially in the Busan and Gyeongnam areas, there is a concentration of block production companies and various steel structures, ship parts, piping, and cable industries, so if they form an industrial cluster and cooperate, the synergy effect on the local economy and job expansion is expected to be significant.
Based on its accumulated experience in the special ship and new construction and overhaul fields, HJ Heavy Industries has also declared its entry into the overseas MRO market. Since being designated as the first domestic marine defense contractor in 1974, it has carried out over 1,200 various ships and military support system projects throughout their life cycle, from the construction of state-of-the-art ships to MRO business. It is expected that if the ongoing U.S. Navy Ship Maintenance Agreement (MRSA) is successfully completed, the entry into the overseas market will accelerate.
HJ Heavy Industries expects that through the MRO cluster council business agreement, participating companies will organically connect technology, manpower, and information, strengthening the core competencies related to ship maintenance, which is considered a future high-value-added business in the domestic shipbuilding industry.
Yoo Sang-chul, CEO of HJ Heavy Industries, said, "To proactively respond to the growing domestic and international MRO market, we have strengthened strategic partnerships with related companies in the Busan and Gyeongnam regions and established a collaboration system," adding, "Through mutual growth and synergy effects among participating companies, we will prepare a bridgehead for entry into the global market and enhance the sustainability of the MRO business, contributing to the development of the local economy."
hoya0222@fnnews.com Kim Dong-ho Reporter