Founded in 1972 by Chairman Chung Ju-yung, Hyundai Shipbuilding changed its name to Hyundai Heavy Industries in 1978 and continued to grow.
In 1983, the company not only won the $1 billion export tower for the first time among Korean companies, but also became the world's No. 1 shipbuilding company in terms of ship building volume, beating Mitsubishi Heavy Industries of Japan.
In June 2019, Hyundai Heavy Industries Group launched Korea Shipbuilding & Marine Engineering Co., an integrated shipbuilding corporation.