Samsung Heavy Industries will expand and relocate its R&D center in Busan within
Samsung Heavy Industries, a key player in the shipbuilding sector, is set to expand and relocate its Research and Development (R&D) center in Busan, South Korea. This move is expected to enhance Busan’s competitiveness in the shipbuilding and marine industries, solidifying its position as a hub for research and development in the maritime sector.
Memorandum of Understanding Signed
The Busan Metropolitan Government recently announced the signing of a memorandum of understanding (MOU) with Samsung Heavy Industries to expand the R&D center in the city. The MOU was signed during a ceremony attended by Busan Mayor Jeon Jae-soo and Samsung Heavy Industries CEO Choi Sung-an. This agreement marks a significant step towards strengthening the maritime industry in the region.
Investment and Expansion Plans
Samsung Heavy Industries plans to invest approximately 8.6 billion won in expanding its R&D center to 5,619 square meters in the Munhyeon Financial Complex in Nam-gu, Busan. The expansion is aimed at accommodating the growing demand for research and development activities, particularly in the field of floating LNG (FLNG) facilities.
The company intends to hire new marine design and research personnel by 2028, with a focus on expanding its capabilities beyond traditional design support functions. The goal is to establish an integrated design base that covers the entire marine business process, including non-design sales and information technology departments.
Strengthening Busan’s Industrial Competitiveness
This strategic investment by Samsung Heavy Industries is expected to attract core research functions to the region, further enhancing Busan’s industrial competitiveness and fostering the development of new industries in the maritime sector. The move also sets the stage for other large shipbuilding companies to consolidate their research functions in Busan, creating a hub for innovation and talent development in the maritime industry.
In conclusion, Samsung Heavy Industries’ expansion of its R&D center in Busan represents a significant milestone in the region’s efforts to become a leading hub for shipbuilding and marine innovation. The move is poised to drive economic growth, create job opportunities, and nurture a thriving ecosystem for the maritime industry in Busan.
