Hyundai Heavy Industries, the world’s biggest shipyard, announced the establishment of the new Integrated R&D Center at its headquarters in Ulsan, South Korea. The new R&D center will create synergy between Hyundai Heavy’s other research institutes: Hyundai Maritime Research Institute, Hyundai Industrial Research Institute, and Product Development Research Institute.
These institutes were previously located in separate areas of the world’s biggest shipyard. With an investment of KRW 20 billion and 310 engineers, the R&D center is expected to increase annualized R&D performance by 5%.
Along with the new R&D center, a new Welding Test Facility for research into welding, materials, automation, environment and energy, and new Painting Test Facility for research into anti-corrosion were also set up.
Hyundai Heavy Industries is now operating five research institutes in South Korea including Hyundai Industrial Research Institute, Hyundai Maritime Research Institute, Hyundai Electro-Mechanical Research Institute and Techno Design Institute, as well two overseas research institutes in Hungary and China.
(20 billion South Korean won = 16.86 million U.S. dollars)
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Source: hhi, September 26, 2011;