RoK shipbuilding companies look to Vietnam for workers

Hyundai Vietnam Shipbuilding (Photo: VNA)

Hanwha Ocean and HD Hyundai, two out of the “Big Three” shipbuilders of the Republic of Korea (RoK), are looking to Vietnam to secure workers amid the Korean industry's lingering workforce shortage, according to industry officials.

On July 22, Hanwha Ocean signed a memorandum of understanding (MOU) with Vietnam's Ministry of Industry and Trade in Hanoi for their comprehensive cooperation in training and hiring Vietnamese shipbuilding workers.

This came a month after Hanwha Group Vice Chairman Kim Dong-kwan joined a business delegation accompanying President Yoon Suk Yeol on his State visit to Vietnam.

The latest MOU is intended to satisfy the country’s demand for workers by supporting programmes to strengthen the capabilities of vocational training institutions under the Vietnamese ministry, a Hanwha Ocean official said.

Meanwhile, HD Hyundai President Chung Ki-sun also inspected Hyundai Vietnam Shipbuilding's shipyard in Khanh Hoa last month, during his visit to the Southeast Asian country as a member of the business delegation accompanying the President.

Since the establishment of Hyundai Vietnam Shipbuilding in 1996, Vietnam has grown into a country winning the fifth-most shipbuilding orders in the world. It is also known to have the largest number of skilled and experienced shipbuilding workers among Southeast Asian nations.

Korean shipbuilders have therefore preferred hiring Vietnamese workers.

Data compiled by the RoK Ministry of Justice earlier this year also showed that Vietnamese nationals accounted for 55.1% of 1,595 foreigners who received E-7 (Particular Occupation) visas between January 2022 and January 2023 for specific activities related to shipbuilding./.