Chung Kisun, Executive Vice Chairman of HD Hyundai, has met with H.E. Khalid AlFalih, the Minister of Investment of Saudi Arabia, to discuss the operation of the joint shipyard and engine plant being established in Saudi Arabia. The two parties also discussed cooperation on future naval ship projects. Following the meeting, a shipbuilding and marine equipment roundtable was held to discuss plans for expanding shipbuilding and establishing a local supply chain within Saudi Arabia. As part of its Vision 2030 project, Saudi Arabia is focusing on strengthening its shipbuilding industry and is seeking investment and participation from Korean companies. HD Hyundai is currently constructing the IMI Shipyard and Makeen engine manufacturing company within the King Salman International Complex for Maritime Industries in Al Jubail, eastern Saudi Arabia, with full operations scheduled for 2026 and 2027, respectively.