Hanwha Ocean Co Ltd (Hanwha Ocean), formerly Daewoo Shipbuilding & Marine Engineering Co Ltd, is a manufacturer of offshore structures and ships. It serves oil and gas exploration and production industries. Hanwha Ocean also manufactures tankers and fleets for the transportation of crude oil and other refined petroleum products. The company supplies products in European and American markets. The company owns a yard area of 4.9 million square meters, which comprises a dock with a million-ton capacity including a goliath crane of 900 tons.

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Hanwha Ocean invests in new technology to develop high-performance, energy-efficient products. It manages the Technology management division, Ship & Ocean R&D Institute, Industrial Application R&D Institute, and Naval & Energy System R&D Institute. It operates Siheung and Okpo R&D Center with an advanced research infrastructure. Its research centers focus on developing various new technologies and product designs and production technologies and are associated with shipbuilding, offshore, plant and energy businesses. The company developed FPSO (Floating Production Storage and Offloading Unit) for massive oil production, processing and storage system, LNG-RV, Nuclear Propulsion Ships, Mounted Power Plants, Offshore wind turbines and Floating Docks for shipbuilding of high-performance Robot technology. The company also developed the first Arctic ship for drilling in extremely cold environments and high-performance Robot technology. The company’s Quality Information Center examines the quality of the products. In FY2022, the company spent KRW73,582 million on its R&D, which stood at 1.5% of the company’s revenue and increased 4.9% YoY.