World’s Leading Shipbuilders

It was an early wake up call today as we had to leave Geyongju and head to Ulsan. Ulsan is home to major factories especially in the shipbuilding and ship transportation companies. We started at Jinsan Marine Management Co, a marine supplier and much more. We sat in a conference room where the founder and president of the company very kindly took time out of his very busy day to talk to us. He went through the history of the company and what it currently does. It started out in 1990 as a marine supplier and has now expanded into an authorized Parts Sales Agent for Hyundai-Engine and has even opened up the Duty Free Shop. He explained that the company is able to buy products and ship them to their plants for tax free and then distribute it to the world. They are also have factories stationed in Greece and Japan and they ship to most of the world but mainly Japan, Greece, Norway, and Singapore. Once this was done we were given a tour of the area where he showed us all his warehouses that hosted the spare engine parts from Hyundai and the products for the Duty Free Shop. The President of the Korean Government had awarded them a $20 million export tower to pay for the massive warehouses and the expansion. The company even utilizes smart systems through their One Window System that will answer all their customers demands as efficiently and easily as possible.

After the meeting we went to lunch and got delicious fried rice. Then after a short lunch break we had to head back on the bus to go to our next company visit, Hyundai Heavy Industries. As soon as we got off the bus we got a tour of their like mini museum of the history of Hyundai. It started with Chung Ju-yung in 1972 and is the world’s largest shipbuilding company. Chung Ju-yung started in a very poor rice family and decided his life would not be the same and ended up being one of the world’s richest man. He started the Hyundai Group and ended up creating a massive conglomerate. He also seemed like a very good person in that he was great to his employees, he created several schools including the Ulsan University, helped get the Olympics to South Korea, and even visited North Korea in hopes of fixing tension. We then got on the bus and got a tour of the massive shipyard where we could see the creation of the ships. It was jaw dropping how massive these ships are and how massive all the construction tools where. It was evident how this had become the number one shipbuilding company in the world as they can create massive ships and have designed and constructed a 100 million BHP engine which is unbelievable. The tours were short but effective and really emphasized how massive this company is.

Hyundai Heavy Industries

After the company visit we headed to our new hotel in Ulsan as we would be here for one night and then travel to Busan. We arrived at the hotel early in the afternoon and had the rest of the day to our self. We used this time to just relax and some people used it to catch up on their blogs. We ended up walking through Ulsan to find dinner and then headed to the hotel and watched some TV before calling it a night.

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