Dae Sun Shipbuilding is consolidating its shipbuilding operations into the Busan Dadaepo Shipyard and is fully advancing a business restructuring centered on marine equipment. By the end of 2025, Dae Sun Shipbuilding had sold its shipyard located in Yeongdo, Busan.
Recently, Dae Sun Shipbuilding successfully completed the first delivery of superstructures (crew accommodation areas) for eight 7,900 TEU container ships under construction from HJ Heavy Industries, and held an electrical commissioning ceremony on-site. Subsequently, Dae Sun Shipbuilding will deliver the remaining superstructure sections for the other seven container ships according to schedule.
Recently, Dae Sun Shipbuilding successfully completed the first delivery of superstructure blocks (crew accommodation areas) for eight 7,900 TEU container ships under construction from HJ Heavy Industries, and held an electrical commissioning ceremony on-site. Subsequently, Dae Sun Shipbuilding will deliver the remaining superstructure blocks for the other seven container ships according to schedule.
It is understood that large vessels such as container ships are typically constructed using a modular approach, where the hull is divided into hundreds or even thousands of modules for separate fabrication before final assembly. The power-on ceremony is a critical milestone to verify that the marine power supply facilities – including electrical and instrumentation systems – and major equipment of the superstructure meet the design specifications.
Dae Sun Shipbuilding stated that leveraging its long-standing core shipbuilding capabilities in production design, outfitting, and other areas accumulated as a shipyard, this electrical commissioning ceremony will simultaneously validate the quality and process stability of superstructure blocks. Through integrated management of complex processes such as pre-laying electrical piping, it will significantly enhance delivery capabilities.
Currently, Dae Sun Shipbuilding is in a critical stage of improving its financial structure, making it difficult to obtain advance payment guarantees (RGs). This means that Dah Sang Shipbuilding is actually unable to undertake new shipbuilding orders, and therefore seeks a new way out for the shipyard through business restructuring.
From the current situation, Dae Sun Shipbuilding has gradually transitioned from its original complete shipbuilding business to the manufacturing of ship supporting equipment such as superstructures, and has already delivered a superstructure to HD Hyundai Mipo in the second half of 2025.
A representative from Dae Sun Shipbuilding stated: “The delivery of the first batch of container ship blocks to HJ Heavy Industries and the subsequent power-on ceremony signify that Dae Sun Shipbuilding has formally validated the functionality and safety of its entire superstructure manufacturing process, marking a significant milestone. The company will leverage its accumulated on-site experience and process integration capabilities to continuously solidify its position as a trusted partner for its customers.”
It is understood that Dae Sun Shipbuilding initiated debt restructuring proceedings after recording a loss of 160 billion won in 2023. Subsequently, Dae Sun Shipbuilding’s operating conditions improved, achieving operating revenue of 322.5 billion won in 2024, a year-on-year increase of 17.1%, and reducing its losses to 5.5 billion won; in the first half of 2025, it achieved operating revenue of 132 billion won and operating profit of 2.8 billion won, successfully turning a profit.
To further improve its financial position, Dae Sun Shipbuilding has sold its shipyard in Yeongdo, Busan, to ship equipment manufacturer Hana IMS for 107.15 billion won. The company stated that the proceeds from this sale will be used to repay debt.
According to Dae Sun Shipbuilding’s development plan, the shipyard will primarily undertake ship equipment, hull blocks, and superstructure manufacturing in the short term. In the medium to long term, it plans to further expand its business scope by undertaking shipbuilding commissions and other related services.