Officials, including lawmaker Heo Sung-moo (fourth from left), Hanwha Engine CEO Kim Jong-seo, and Changwon Mayor Kang Ki-yoon, pose for a commemorative photo at the completion ceremony for a medium-speed engine plant held at Hanwha Engine’s headquarters in Changwon on the 19th. /Hanwha Engine
Hanwha Engine (082740.KS) has built a dedicated mid-speed engine plant at its headquarters in Changwon, South Gyeongsang Province, to expand production of four-stroke mid-speed engines used for onboard power generation on ships.
The company said on the 19th that it held a completion ceremony for the mid-speed engine plant at its Changwon headquarters, attended by about 200 people, including CEO Kim Jong-seo, Changwon Mayor Kang Ki-yun, National Assembly member Heo Sung-moo, representatives of local partner companies and employees.
The plant, built across 2,500 pyeong (about 8,264 square meters), is equipped with a dedicated production system capable of mass-producing four-stroke mid-speed engines. Its construction drew on reshoring investment subsidies provided by the Ministry of Trade, Industry and Energy, South Gyeongsang Province and the city of Changwon.
Hanwha Engine said it expects the plant’s completion to contribute to job creation in the region.
Until now, Hanwha Engine has supplied two-stroke low-speed engines — the main propulsion units for large commercial vessels — to shipyards at home and abroad. With the new plant, the company has extended its production to four-stroke mid-speed engines used for onboard power generation, building a portfolio that spans both propulsion and power-generation engines.
The company plans to offer shipyards and shipowners a wider range of options and to expand a stable foothold in the onboard power-generation market. It also plans to strengthen its competitiveness in hybrid propulsion and energy solutions by linking the engines with energy storage systems (ESS).
“This completion of the mid-speed engine plant is an important milestone in expanding Hanwha Engine’s business to a new level, based on the technological capabilities and market trust it has built over many years,” Kim said. “Going forward, we will grow into a company that provides optimal propulsion and energy solutions based on diverse technologies such as all-electric and hybrid propulsion systems.”