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- Received Approval in Principle (AIP) from the American Bureau of Shipping (ABS) for nuclear-powered container ship
- Unveiled model at U.S. New Nuclear for Maritime Summit - showcasing economic efficiency, performance, and safety
- "Developing a business model by 2030 to accelerate the commercialization of marine nuclear technology"
SEOUL, South Korea, Feb. 13, 2025 /PRNewswire/ -- HD Korea Shipbuilding & Offshore Engineering (HD KSOE), an intermediary holding company for HD Hyundai's shipbuilding sector, has unveiled a nuclear-powered container ship model utilizing Small Modular Reactor (SMR) technology, accelerating the development of nuclear-powered vessels.
On the 12th(Wednesday), HD KSOE announced that it had revealed its nuclear-powered container ship design model for the first time at the New Nuclear for Maritime Houston Summit, held at the Asia Society Texas Center in Houston, USA.
Previously, HD KSOE had obtained Approval in Principle (AIP) from the American Bureau of Shipping (ABS) for a 15,000 TEU-class container ship design model applying SMR technology.
The newly unveiled design model features enhanced economic efficiency and safety by incorporating actual equipment and safety design concepts.
Unlike conventional ships, nuclear-powered vessels do not require engine exhaust systems or fuel tanks. HD KSOE has optimized the space previously occupied by large engine room equipment to accommodate additional containers, enhancing economic efficiency. The company has also applied a marine radiation shielding system using a double-tank method with stainless steel and *light water to ensure safety.
Furthermore, HD KSOE, in collaboration with global energy technology company Baker Hughes, has applied a *supercritical carbon dioxide-based propulsion system, improving thermal efficiency by approximately 5% compared to existing steam-based propulsion systems.
HD KSOE plans to establish a marine nuclear demonstration facility at its Future Technology Test Center in Yongin, Gyeonggi Province, to verify safety designs.
"Nuclear-powered vessels can be a game-changer in the current shipbuilding market, where carbon neutrality is emerging," said Patrick Ryan, Chief Technology Officer of ABS. "ABS and HD KSOE will contribute to accelerating the commercialization of marine nuclear technology in the global shipbuilding market."
Meanwhile, at the summit, a discussion on 'Maritime Civil Nuclear Propulsion for Large Ships' was held, featuring Park Sangmin, Head of HD KSOE's Green Energy Research Lab; Christopher J. Wiernicki, Chairman, President, and CEO of ABS; and John Michael Richardson, former U.S. Chief of Naval Operations.
"HD KSOE is strengthening cooperation not only with major classification societies but also with international regulatory bodies to establish international regulations necessary for the commercialization of nuclear-powered vessels," said Park Sangmin. "Starting with the land-based SMR reactor manufacturing project, we aim to develop a marine nuclear business model by 2030."
Since February last year, HD KSOE has been accelerating related technology development through joint research on next-generation SMRs with TerraPower. In December of the same year, the company secured an order to manufacture the main equipment for TerraPower's Natrium reactor, which is being constructed in Wyoming, USA.
*Light water: Water used as a coolant and neutron moderator in reactors.
*Supercritical carbon dioxide-based propulsion system: A technology that generates energy by heating carbon dioxide in a supercritical state. It enables high-efficiency power generation even at low temperatures and pressures, making it a next-generation power generation technology.
- Received Approval in Principle (AIP) from the American Bureau of Shipping (ABS) for nuclear-powered container ship
- Unveiled model at U.S. New Nuclear for Maritime Summit - showcasing economic efficiency, performance, and safety
- "Developing a business model by 2030 to accelerate the commercialization of marine nuclear technology"
SEOUL, South Korea, Feb. 13, 2025 /PRNewswire/ -- HD Korea Shipbuilding & Offshore Engineering (HD KSOE), an intermediary holding company for HD Hyundai's shipbuilding sector, has unveiled a nuclear-powered container ship model utilizing Small Modular Reactor (SMR) technology, accelerating the development of nuclear-powered vessels.
On the 12th(Wednesday), HD KSOE announced that it had revealed its nuclear-powered container ship design model for the first time at the New Nuclear for Maritime Houston Summit, held at the Asia Society Texas Center in Houston, USA.
Previously, HD KSOE had obtained Approval in Principle (AIP) from the American Bureau of Shipping (ABS) for a 15,000 TEU-class container ship design model applying SMR technology.
The newly unveiled design model features enhanced economic efficiency and safety by incorporating actual equipment and safety design concepts.
Unlike conventional ships, nuclear-powered vessels do not require engine exhaust systems or fuel tanks. HD KSOE has optimized the space previously occupied by large engine room equipment to accommodate additional containers, enhancing economic efficiency. The company has also applied a marine radiation shielding system using a double-tank method with stainless steel and *light water to ensure safety.
Furthermore, HD KSOE, in collaboration with global energy technology company Baker Hughes, has applied a *supercritical carbon dioxide-based propulsion system, improving thermal efficiency by approximately 5% compared to existing steam-based propulsion systems.
HD KSOE plans to establish a marine nuclear demonstration facility at its Future Technology Test Center in Yongin, Gyeonggi Province, to verify safety designs.
"Nuclear-powered vessels can be a game-changer in the current shipbuilding market, where carbon neutrality is emerging," said Patrick Ryan, Chief Technology Officer of ABS. "ABS and HD KSOE will contribute to accelerating the commercialization of marine nuclear technology in the global shipbuilding market."
Meanwhile, at the summit, a discussion on 'Maritime Civil Nuclear Propulsion for Large Ships' was held, featuring Park Sangmin, Head of HD KSOE's Green Energy Research Lab; Christopher J. Wiernicki, Chairman, President, and CEO of ABS; and John Michael Richardson, former U.S. Chief of Naval Operations.
"HD KSOE is strengthening cooperation not only with major classification societies but also with international regulatory bodies to establish international regulations necessary for the commercialization of nuclear-powered vessels," said Park Sangmin. "Starting with the land-based SMR reactor manufacturing project, we aim to develop a marine nuclear business model by 2030."
Since February last year, HD KSOE has been accelerating related technology development through joint research on next-generation SMRs with TerraPower. In December of the same year, the company secured an order to manufacture the main equipment for TerraPower's Natrium reactor, which is being constructed in Wyoming, USA.
*Light water: Water used as a coolant and neutron moderator in reactors.
*Supercritical carbon dioxide-based propulsion system: A technology that generates energy by heating carbon dioxide in a supercritical state. It enables high-efficiency power generation even at low temperatures and pressures, making it a next-generation power generation technology.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
HD Korea Shipbuilding & Offshore Engineering Leads the Zero-Carbon Era with 'SMR-Powered Ship'
- Company named "Best Financially Managed Semiconductor Company (Achieving Greater than $1 Billion in Annual Sales)" and "Outstanding Asia-Pacific Semiconductor Company" simultaneously
- Accelerates recovery from market downturn leveraging world-class HBM leadership; Global management performance recognized
- Reflects company's technology leadership and customer-centric execution
- SK Chairman Chey Tae-won emphasizes: "Technological competitiveness must remain unwavering in challenging times"
- Commits to driving new customer value and leading global AI market growth as a "Full-Stack AI Memory Creator"
SEOUL, South Korea, Dec. 7, 2025 /PRNewswire/ -- SK hynix Inc. (or "the company", www.skhynix.com) announced today that it has been named the winner of the Best Financially Managed Semiconductor Company Award (Achieving Greater than $1 Billion in Annual Sales)[1] and the Outstanding Asia-Pacific Semiconductor Company Award[2] at the Global Semiconductor Alliance (GSA)[3] Awards 2025, held on December 4 PST in Santa Clara, California.
| [1]The Best Financially Managed Semiconductor Company Award: A category recognizing public semiconductor companies based on financial soundness and operational efficiency. Awards are presented in two categories — annual sales over $1 billion and annual sales under $1 billion — and are considered among the most authoritative honors in the global semiconductor industry. |
| [2]Outstanding Asia-Pacific Semiconductor Company Award: A special category recognizing semiconductor companies headquartered in the Asia-Pacific region based on comprehensive evaluations including product excellence, business vision, leadership, and market success. |
| [3]GSA(Global Semiconductor Alliance): A global CEO-level semiconductor organization serving as a hub for technological information sharing across more than 25 countries and over 250 corporate members. |
The GSA Awards, organized annually since 1996, are regarded as the most prestigious honors in the global semiconductor sector, recognizing outstanding performance in leadership, financial results and industry reputation. SK hynix secured its second win in the financial management category following 2017, and its first recognition as the top Asia-Pacific semiconductor company. The dual achievement reinforces the company's reputation as a leading global technology innovator.
While the semiconductor industry faced a severe downturn just two years ago, the company has been the fastest to rebound thanks to its advanced AI memory technologies including HBM. This performance has resulted in global recognition for its operational excellence and financial execution. SK hynix plans to continue building sustainable growth with its dominant leadership in the AI memory market.
The awards reflect the company's proactive delivery of groundbreaking HBM solutions and its steadfast commitment to customer-centric performance in surging global AI demand. SK Chairman Chey Tae-won has consistently emphasized that securing technological competitiveness must remain unwavering, especially during challenging times. This long-term focus on technology investment and global cooperation network has contributed to the company's improved performance and reinforced financial health.
Driven by this strategy, SK hynix has recorded historic performance throughout 2025. For the first three quarters, the company reported revenue of 64 trillion won and operating profit of 28 trillion won in total, positioning it well to surpass its previous full-year earnings record set in 2024 (66 trillion won in revenue and 23 trillion won in operating profit).
Financial health has also significantly strengthened. As of the end of the third quarter, cash and cash equivalents reached 27.9 trillion won, up 10.9 trillion won quarter-over-quarter, while interest bearing debt decreased to 24.1 trillion won— successfully transitioning into a net cash position of approximately 4 trillion won.
To secure long-term leadership in AI memory, SK hynix is accelerating major investments. The Cheongju M15X fab, which opened its cleanroom earlier than planned in October, is on track to begin HBM mass production in the first half of next year. Construction of the first fab in the Yongin Semiconductor Cluster, launched in February, is also progressing ahead of schedule.
With its recent financial achievements and continued expansion, SK hynix is expected to further solidify its AI memory leadership going forward.
SK hynix was represented at the ceremony by Justin Kim, President & Head of AI Infra at SK hynix, and Sungsoo Ryu, President of SK hynix America. "It is a great honor to receive this award." Kim said, "We will continue to lead the market and create new value for customers as a Full-Stack AI Memory Creator, driving growth across the global AI ecosystem."
About SK hynix Inc.
SK hynix Inc., headquartered in Korea, is the world's top tier semiconductor supplier offering Dynamic Random Access Memory chips ("DRAM") and flash memory chips ("NAND flash") for a wide range of distinguished customers globally. The Company's shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxembourg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.
SEOUL, South Korea, Dec. 7, 2025 /PRNewswire/ -- SK hynix Inc. (or "the company", www.skhynix.com) announced today that it has been named the winner of the Best Financially Managed Semiconductor Company Award (Achieving Greater than $1 Billion in Annual Sales)[1] and the Outstanding Asia-Pacific Semiconductor Company Award[2] at the Global Semiconductor Alliance (GSA)[3] Awards 2025, held on December 4 PST in Santa Clara, California.
| [1]The Best Financially Managed Semiconductor Company Award: A category recognizing public semiconductor companies based on financial soundness and operational efficiency. Awards are presented in two categories — annual sales over $1 billion and annual sales under $1 billion — and are considered among the most authoritative honors in the global semiconductor industry. |
| [2]Outstanding Asia-Pacific Semiconductor Company Award: A special category recognizing semiconductor companies headquartered in the Asia-Pacific region based on comprehensive evaluations including product excellence, business vision, leadership, and market success. |
| [3]GSA(Global Semiconductor Alliance): A global CEO-level semiconductor organization serving as a hub for technological information sharing across more than 25 countries and over 250 corporate members. |
[1]The Best Financially Managed Semiconductor Company Award: A category recognizing public semiconductor companies based on financial soundness and operational efficiency. Awards are presented in two categories — annual sales over $1 billion and annual sales under $1 billion — and are considered among the most authoritative honors in the global semiconductor industry.
[2]Outstanding Asia-Pacific Semiconductor Company Award: A special category recognizing semiconductor companies headquartered in the Asia-Pacific region based on comprehensive evaluations including product excellence, business vision, leadership, and market success.
[3]GSA(Global Semiconductor Alliance): A global CEO-level semiconductor organization serving as a hub for technological information sharing across more than 25 countries and over 250 corporate members.
The GSA Awards, organized annually since 1996, are regarded as the most prestigious honors in the global semiconductor sector, recognizing outstanding performance in leadership, financial results and industry reputation. SK hynix secured its second win in the financial management category following 2017, and its first recognition as the top Asia-Pacific semiconductor company. The dual achievement reinforces the company's reputation as a leading global technology innovator.
While the semiconductor industry faced a severe downturn just two years ago, the company has been the fastest to rebound thanks to its advanced AI memory technologies including HBM. This performance has resulted in global recognition for its operational excellence and financial execution. SK hynix plans to continue building sustainable growth with its dominant leadership in the AI memory market.
The awards reflect the company's proactive delivery of groundbreaking HBM solutions and its steadfast commitment to customer-centric performance in surging global AI demand. SK Chairman Chey Tae-won has consistently emphasized that securing technological competitiveness must remain unwavering, especially during challenging times. This long-term focus on technology investment and global cooperation network has contributed to the company's improved performance and reinforced financial health.
Driven by this strategy, SK hynix has recorded historic performance throughout 2025. For the first three quarters, the company reported revenue of 64 trillion won and operating profit of 28 trillion won in total, positioning it well to surpass its previous full-year earnings record set in 2024 (66 trillion won in revenue and 23 trillion won in operating profit).
Financial health has also significantly strengthened. As of the end of the third quarter, cash and cash equivalents reached 27.9 trillion won, up 10.9 trillion won quarter-over-quarter, while interest bearing debt decreased to 24.1 trillion won— successfully transitioning into a net cash position of approximately 4 trillion won.
To secure long-term leadership in AI memory, SK hynix is accelerating major investments. The Cheongju M15X fab, which opened its cleanroom earlier than planned in October, is on track to begin HBM mass production in the first half of next year. Construction of the first fab in the Yongin Semiconductor Cluster, launched in February, is also progressing ahead of schedule.
With its recent financial achievements and continued expansion, SK hynix is expected to further solidify its AI memory leadership going forward.
SK hynix was represented at the ceremony by Justin Kim, President & Head of AI Infra at SK hynix, and Sungsoo Ryu, President of SK hynix America. "It is a great honor to receive this award." Kim said, "We will continue to lead the market and create new value for customers as a Full-Stack AI Memory Creator, driving growth across the global AI ecosystem."
About SK hynix Inc.
SK hynix Inc., headquartered in Korea, is the world's top tier semiconductor supplier offering Dynamic Random Access Memory chips ("DRAM") and flash memory chips ("NAND flash") for a wide range of distinguished customers globally. The Company's shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxembourg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
SK hynix Honored with Two Major Titles at GSA Awards 2025
