HHI signed an MOU to establish Korea’s largest wind farm with Korea Southern Co. and Hyosung Corp.

With an investment of 90 billion won, HHI will install 100 domestically manufactured wind turbine generators at Jeju Island and Busan by 2012. HHI plans to team up with Hyosung Corp. to manufacture wind turbine generators. Korea Southern Power Co. will be responsible for overseeing power distribution.

The electricity output from the new farm will account for about 67% of current wind turbine generated power in Korea. Through this project, HHI will have a chance to pave the way for marching into the overseas’ wind turbine generator market.

About Hyundai:

Hyundai Heavy Industries (HHI), founded by the late Chung Ju-yung on March 23, 1972, wrote the first chapter of its shipbuilding history in June, 1974, by completing construction of the world's largest shipyard and two 260,000-dwt VLCCs all at the same time. A decade after its first delivery, the Hyundai Shipyard topped 10 million deadweight tons in aggregate ship production, and has maintained the leading position in the world shipbuilding market ever since. Hyundai Shipard's drive has mirrored the growth of modern Korean heavy industry, and its success has allowed it to expand into other heavy industry areas, ultimately leading to the formation of Hyundai Heavy Industries, an integrated heavy industry company.

The latest chapter of HHI's history began when it separated from the Hyundai Group in February, 2002. The independent establishment of the Hyundai Heavy Industries Group included taking over Hyundai Samho Heavy Industries and the Hyundai Mipo Dockyard.

Our vision is to become a "Global Leader" in the heavy industries sector. Three decades ago that vision was only a dream, but after transforming an empty stretch of beach into the world's largest shipyard, that dream has become a reality. Our vision is a vast bridge connecting "reality" and "future" and has ultimately allowed us to lead to our field. This vision is a part of the "Hyundai Spirit": Creative Wisdom, Positive Thinking, and Unwavering Drive.