Hanwha Ocean Co Ltd (Hanwha Ocean) is a shipbuilding and marine company. It is involved in the construction of various vessels, including LNG carriers, crude oil carriers, container ships, and LPG carriers. The company also produces marine products such as floating production storage and offloading units (FPSO), fixed platforms, and drill ships, and special vessels including submarines, destroyers, rescue ships, and patrol ships. Additionally, Hanwha Ocean is involved in the construction of petrochemical, refinery, power and water, and industrial, metal and mineral plants.

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Hanwha Ocean is actively engaged in various R&D initiatives aimed at enhancing the competitiveness and performance of its core products. The company focuses on developing production innovation technologies, localizing key equipment, and utilizing the latest research infrastructure. Key areas of research include improving the basic performance of flagship ships, developing eco-friendly and economically feasible products, enhancing cryogenic cargo hold and fuel tank technologies, and advancing automation in production processes. The company also emphasizes the development of smart ship technologies and strengthening the technological competitiveness of defense products. The R&D units of Hanwha Ocean include the Product Strategy Technology Institute, Future Energy Research Center, Manufacturing Innovation Research Center, Technology Consulting Center, and Defense Technology Research Center. These units are responsible for managing the company's R&D activities, such as improving product performance, developing new technologies, supporting on-site applications, and enhancing the competitiveness of defense products. In FY2024, the company spent KRW66,618 million on R&D, which as a percentage of revenue stood at 0.6%.