South Korea’s HD Hyundai Samho wins $769.5M contract to build LNG carriers, boosting shipbuilding exports amid global growth.

HD Hyundai Samho won a $769.5 million contract to build three LNG carriers for a Greek firm, boosting its record order intake to $7.89 billion. The South Korean shipbuilding sector is thriving in 2026 despite global slowdowns, with strong demand for LNG carriers and naval vessels driving growth. Korean yards exceeded annual targets, outperforming China amid U.S. efforts to limit Chinese maritime expansion. The U.S.-backed "Make American Shipbuilding Great Again" initiative is strengthening U.S.-Korea shipbuilding ties, including training academies and frigate projects. South Korea’s ship and semiconductor exports are projected to lift overall exports by 0.8% in 2026.