New Contract for LPG Carrier Construction with European Shipping Company

identity or its relationship with Hyundai Heavy Industries are not disclosed. The supply will extend primarily to European markets, marking a significant step for the company's international market strategy. The contract is scheduled to commence on April 16, 2025, with an expected completion date by July 31, 2027. Payment will be transacted in phases based on the progression of construction, and advance payments are stipulated as part of the agreement's terms. The exchange rate used for calculating the contract amount was based on the rate on April 16, 2025, where 1 USD equaled 1,423.3 KRW. The corporate status of Hyundai Heavy Industries is classified as large-sized, which plays a role in this sizable and strategic contract. This development marks a noteworthy advancement in Hyundai Heavy Industries's operational pursuits, suggesting promising prospects for future growth and reinforcing its position in the competitive global shipbuilding market.