Hyundai Heavy signed a contract to build five mid and large sized patrol vessels worth 149.9 billion won with Korea Marine Fund Corporation on July 23, 2009.

The order includes one 3000 ton class offshore patrol vessel, one 1000 ton class vessel, one 500 ton class vessel and two 300 ton class inshore patrol vessel.

The ships will be delivered to the Korean Coast Guard in order by 2012 after 40 months of shipbuilding period.

The vessels will be used for coastal and offshore patrols, anti-smuggling duties, and sea rescue.

There are a total of 30 vessels in the works for the Korean Coast Guard, funded with private investment. This order is also a part of that project.

Meanwhile, Hyundai Heavy has delivered 22 patrol vessels including the 5000 ton class ‘Sambong’ since 1980, when the company built its first 250 ton class patrol vessel. HHI is currently building two 3000 ton class patrol vessels.

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.