Since the fateful day in 1972 when legendary South Korean businessman JY Chung, against all advice, started to carve out the first docks from the rocky Ulsan coastline, it has pretty much been a non-stop procession of growth for Hyundai Heavy Industries (HHI), the world’s largest shipbuilder.
It took the company less than two decades to overtake the then market leader, Mitsubishi Heavy Industries.
