HD Hyundai Group's HD Korea Shipbuilding & Marine Engineering acquires STX Heavy Industries, maintaining its position as the world's top ship engine manufacturer (Korea)

The Korea Fair Trade Commission has announced that it has filed a lawsuit against HD Korea Shipbuilding & Marine Engineering (hereinafter referred to as HD Korea), a major shipbuilding company under the HD Hyundai (formerly Hyundai Heavy Industries) Group, and STX Heavy Industries, a manufacturer of marine engines.
HD Korea decided on the merger and signed the acquisition agreement in July 2023. HD Korea plans to take over the global marine engine market by 2023.
It is in first place with 35%. It has held the top spot for 35 years since 1989. In second place is Hanwha Engine (formerly HSD Engine) with 13%, and in third place is STX Heavy Industries with 2%.
With this acquisition, HD Korea will increase its market share to 37%. With this acquisition, HD Hyundai will be able to expand its portfolio to include small and medium-sized ships.
Among them, HD Korea mainly manufactures large marine engines, while STX Heavy Industries mainly manufactures small and medium-sized marine engines. HD Korea also manufactures its own medium-sized engine, the Himsaeng Engine.
This will also improve the competitiveness of turbochargers, one of the components of the HiMSEN. STX Heavy Industries has successfully developed turbocharger technology and has a specialized factory for this.
HD Korea said, "We will continue to explore ways to respond to the increasing demand for eco engines and strengthen the competitiveness of STX Heavy Industries through synergies with the group's shipbuilding business."
.