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Samsung Securities: HD Hyundai Heavy Industries Secures Future Growth with Engine Expansion and SMR Entry
Electronic Technology · Electronic Equipment/Instruments · yonhap_finance · 2026-09-10
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Samsung Securities views HD Hyundai Heavy Industries' investment in engine production and SMR facilities as a positive move for long-term diversification.
What Happened
Engine Expansion: HD Hyundai Heavy Industries has announced a 1 trillion KRW investment to build new power engine production facilities and an SMR manufacturing plant. This move is a strategic response to rising demand for data center power engines.
Capacity Boost: Upon completion, the company's 4-stroke engine production capacity will more than double, from 3GW to 7.2GW. This expansion strengthens the company's competitive edge and provides a buffer against potential cyclical downturns in the shipbuilding industry.
SMR Strategic Move: The decision to build an SMR-dedicated factory is faster than anticipated, signaling a proactive approach to securing new technology through partnerships like the one with TerraPower. This suggests that concrete order contracts may be in the pipeline.
Valuation Re-rating: Samsung Securities expects this announcement to be a positive catalyst for both short-term stock performance and long-term corporate value. The shift in business structure is likely to justify a valuation premium, aligning the company with higher-valued power-related firms.
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