Seoul: HD Hyundai Mipo Dockyard Co. announced on Monday that it has secured a substantial 219.4 billion-won (US$150 million) order to construct two product carriers for a shipping company in the Oceania region. The shipyard will deliver the vessels in stages, with completion expected by the first half of 2029, as stated in a regulatory filing by the company.

According to Yonhap News Agency, HD Hyundai Mipo is one of the three affiliates under HD Korea Shipbuilding and Offshore Engineering Co. (HD KSOE). The other affiliates include HD Hyundai Heavy Industries Co. and HD Hyundai Samho Heavy Industries Co. HD KSOE operates as a subholding company for HD Hyundai Co., which is recognized as South Korea's prominent shipbuilding group. In a strategic move, HD Hyundai Mipo is slated to merge with HD Hyundai Heavy Industries next month.

HD KSOE has reported securing ship orders worth $13.74 billion to date this year. This accomplishment signifies 76.1 percent of the company's annual order target of $18.05 billion, underscoring its significant progress toward achieving its financial goals for the year.