South Korea’s oldest shipyard Hanjin Heavy Industries & Construction has changed its corporate name to HJ Shipbuilding & Construction (HJSC), following board approval on 22 December.
The shipbuilding company, which was established in 1937, explained that the change of the name was necessary because the trademark agreement with Hanjin Heavy Industries & Contruction Holdings has expired.
HJSC added it will rebrand itself as a global comprehensive heavy industries company and become environmental, social, and governance (ESG) driven organisation.
In September, a consortium led by the construction company Dongbu Corporation acquired 66.85% of the company from its creditors, including state-run Korea Development Bank, according to a statement.
The name renewal “will be a turning point for us to reform into a sustainable ESG-driven company following the end of the merger and acquisition,” said HJSC CEO, Hong Moon-ki.
