HD Korea Shipbuilding

🚨 HD Korea Shipbuilding & Offshore Engineering Boycott Reasons

HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (HD KSOE) is a shipbuilding and marine engineering holding company established in 2019 as part of the HD Hyundai restructuring, headquartered in Seoul, South Korea. HD KSOE encompasses HD Hyundai Heavy Industries, HD Hyundai Mipo, and HD Hyundai Samho shipyards. The company is the parent company of HD Hyundai Heavy Industries. In July 2023, HD KSOE signed a contract with israeli Ray Car Carriers to build four 7,700 CEU pure car/truck carriers (PCTCs). Ray Car Carriers is linked to israeli businessman Abraham Ungar. HD KSOE's parent company, HD Hyundai Heavy Industries, through its heavy machinery brands HD Hyundai Construction Equipment (HD Hyundai CE) and HD Hyundai Infracore, has been documented by Amnesty International and B'Tselem as having been used in the demolition of at least 59 Palestinian homes, businesses, and structures in the occupied West Bank and East Jerusalem, displacing approximately 250 Palestinians. Between October 2021 and October 2023, HD Hyundai made at least 32 shipments to israeli distributor EFCO. Ethical Capital has placed HD KSOE on its "Exclusion Detail" list. OpenIntel rates the Hyundai group 612/1000 on its BDS-1000 index, placing it in the "Upper-Extreme Complicity" category.

Key Boycott Drivers:

1. Shipbuilding for israeli Ray Car Carriers: In July 2023, HD KSOE signed a contract with israeli Ray Car Carriers to build four 7,700 CEU pure car/truck carriers (PCTCs). Ray Car Carriers is linked to israeli businessman Abraham Ungar and currently has 14 new ships on order. HD KSOE maintains a direct commercial relationship with one of israel's largest shipbuilding customers. This agreement represents a direct capital transfer to an israel-based shipping company.TradeWinds: israel's Ray Car Carriers linked to top-dollar Hyundai Mipo newbuildings (July 2023)World Ports: HD KSOE wins $460 million order for four VLGCs — Ray Car Carriers (June 2026)
2. HD Hyundai Heavy Machinery Used in Demolitions: HD KSOE's parent company, HD Hyundai Heavy Industries, through its heavy machinery brands HD Hyundai Construction Equipment (HD Hyundai CE) and HD Hyundai Infracore, has been documented by Amnesty International and B'Tselem as having been used in the demolition of at least 59 Palestinian homes, businesses, and structures in the occupied West Bank and East Jerusalem. These demolitions displaced approximately 250 Palestinians. HD Hyundai excavators were also used in israel's military operations in Gaza and the construction of the apartheid wall. Between October 2021 and October 2023, HD Hyundai made at least 32 shipments to israeli distributor EFCO.Amnesty International: No Machinery for Apartheid — HD Hyundai machinery used to demolish 59 Palestinian homes (April 2025)Business & Human Rights Centre: Construction equipment firms accused of enabling village demolitions (June 2026)
3. Military Shipbuilding for the israeli Navy: HD Hyundai Heavy Industries, part of HD KSOE, participated in the construction of Sa'ar 6-class corvettes for the israeli Navy. This project was carried out under a consortium led by German ThyssenKrupp Marine Systems, with HD Hyundai Heavy Industries involved in the construction. Sa'ar 6-class corvettes are used in israel's Gaza blockade and military operations in the Eastern Mediterranean. HD KSOE's military shipbuilding capacity directly contributes to strengthening israel's naval power.Naval News: Sa'ar 6-class corvettes — ThyssenKrupp and HD Hyundai Heavy Industries (2025)
4. Continued Partnership Despite International Warnings: Despite international warnings by Amnesty International, B'Tselem, and Palestinian human rights organizations against the use of its machinery in human rights violations, HD Hyundai has not terminated its agreements with israeli distributor EFCO. The company claimed its machinery was not used in demolitions, but Amnesty International Korea's report, based on visual and testimonial evidence, refuted this claim. While HD Hyundai suspended operations in Russia following the 2022 invasion of Ukraine, it continues its operations in israel. Ethical Capital has placed HD KSOE on its "Exclusion Detail" list.Ethical Capital: HD KSOE — Exclusion Detail (August 2022)OpenIntel: Hyundai — israel Complicity Index (BDS-1000: 612/1000)

🌐 Sources

• TradeWinds: HD KSOE — Ray Car Carriers shipbuilding (July 2023)
• Amnesty International: No Machinery for Apartheid (April 2025)
• AFSC Investigate: HD Hyundai Heavy Equipment Complicity
• Ethical Capital: HD KSOE — Exclusion Detail
• Business & Human Rights Centre: Construction equipment demolitions (June 2026)
• OpenIntel: Hyundai — israel Complicity Index (BDS-1000: 612/1000)