Hyundai Heavy Opens Shanghai R&D Center
April 4, 2011 - Hyundai Heavy Industries, the world's biggest shipbuilder, today opened its global R&D Center in Shanghai, China to target the world's largest market and attract talented engineers from around the world.
The new R&D center will focus on developing construction equipment, electro electric system equipment, and marine engines in the rapidly-growing Chinese market. Long-term goals are developing global strategic products such as smart-grid, offshore wind turbines, and robot systems for global markets.
Following the efforts of the Chinese government to attract foreign R&D investment, and a well-established global technology network where many multinational corporations are headquartered, Hyundai Heavy selected Shanghai as its global R&D base. Starting with 30 engineers this year, the Company will employ 120 engineers by 2012, and 200 by 2013.
Industry-academic networks with research centers at Peking University, Tsinghua University, and Shanghai Jiaotong University will also play a role in developing core equipment and technology. With 600 engineers at its four domestic research centers and a technology center in Hungary, Hyundai Heavy has developed 31 ‘World Class Products', the most of any Korean company.
'The World Class Products' is a policy where the Ministry of Knowledge Economy of Korea selects products that have over 5 percent global market share, rank within the Top 5 in their market, and with an international market worth over USD 50 million annually.
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Hyundai Heavy Industries Co., Ltd. (HHI) is the world's largest shipbuilding company, headquartered in Ulsan, South Korea. It has seven business divisions: Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, Engine & Machinery, Electro & Electric Systems, Construction Equipment, and Green Energy.
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