(Photo=Hanhwa Ocean)

 

[Alpha Biz= Reporter Kim Jisun] Hanwha Ocean has established an investment subsidiary, Hanwha Ocean SG Holdings, in Singapore as part of its strategy to enhance its maritime business and expand its global presence. The move is aimed at securing a foothold in the growing maritime plant market and positioning the company to lead in this sector.

According to Hanwha Ocean's semi-annual report released on August 15, the establishment of Hanwha Ocean SG Holdings in June is a strategic initiative to bolster the company's competitiveness in marine production facilities. The subsidiary will serve as a base for expanding Hanwha Ocean's global operations and increasing its influence in the maritime industry.

In May, Hanwha Ocean had already taken a significant step by acquiring a 21.5% stake in Dynamac Holdings, a Singaporean shipbuilder, for approximately 91 billion won. This acquisition and the new subsidiary are seen as moves to leverage Singapore's strong maritime industry and its leading companies, such as Keppel, to drive global growth in maritime plant construction.
 

 

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