Seoul: HD Hyundai, South Korea's leading shipbuilding conglomerate, announced that its chairman engaged in discussions with an Indian state minister to explore avenues for enhancing collaboration in the shipbuilding and maritime sectors. The talks aim to bolster India's shipbuilding capabilities and advance related technologies.

According to Yonhap News Agency, HD Hyundai Chairman Chung Ki-sun met with Hardeep Singh Puri, India's minister for petroleum and natural gas, in Seoul. The discussions are part of India's Maritime Amrit Kaal Vision 2047 project, which seeks to position the nation among the top five shipbuilding countries globally. This ambitious plan includes increasing the number of commercial vessels from 1,500 to 2,500, supported by a substantial investment of US$24 billion. An initial funding of $8 billion was announced in October to kickstart new vessel construction.

Chung expressed HD Hyundai's commitment to being a key partner in advancing India's shipbuilding industry through mutual trust. Minister Puri emphasized the importance of ongoing interactions between the Indian government and HD Hyundai to further strengthen cooperation in the shipbuilding and maritime domains.

In a significant development, HD Hyundai signed a partnership agreement in July with India's state-owned Cochin Shipyard Ltd. This marked the first collaboration of its kind between a South Korean shipbuilder and an Indian company, setting a precedent for future bilateral cooperation in the shipbuilding industry.