HD Hyundai to Invest $780M in New Ulsan Engine, SMR Plants
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Seoul, South Korea – September 15, 2026 -- HD Hyundai Heavy Industries will invest a combined KRW 1.0722 trillion to build a new land-based power generation engine plant and a dedicated small modular reactor (SMR) equipment facility, both in Ulsan, as it races to capture surging power demand from AI data centers.
New 3 GW engine facility targets 2028 startup in Ulsan
The company will spend KRW 833.6 billion on a 215,000-square-meter production complex in Onsan-eup, Ulju-gun, Ulsan, dedicated to HiMSEN engines for land-based power generation. The site will include engine assembly and testing, crankshaft machining, and engine block casting operations. Construction starts in the first quarter of next year, with completion targeted for May 2028 and full-scale operations to follow.