Hyundai Engineering & Construction

What Hyundai Engineering & Construction does

Hyundai Engineering & Construction (HDEC) is a South Korea-headquartered global EPC contractor founded in 1947 and publicly traded on the Korea Exchange (KRX: 000720) as a core subsidiary of Hyundai Motor Group. The company delivers engineering, procurement, and construction services across five business divisions: Infrastructure (roads, bridges, tunnels, railways, marine/port), Buildings (industrial facilities, mixed-use developments, hospitals, offices), Housing (Hillstate apartment brand with 20-year history plus THE H and D.H. luxury lines), Power & Plant (nuclear, oil & gas, refinery/petrochemical, industrial plants), and Future & Environment (SMR, renewable energy, hydrogen, CCUS, e-SAF). HDEC has executed 889 projects across 62 countries, accumulating USD 145.48 billion in cumulative overseas orders, and has built 24 nuclear reactors globally.

HDEC generates revenue primarily through large-scale EPC contracts won via competitive bidding and consortium partnerships with governments, national oil companies, and energy enterprises — including Saudi Aramco (853B KRW gas treatment plant), S-Oil ($6.7B Shaheen ethylene facility), Vietnam government (Hanoi Metro Line 3 tunnel), and Iraq (Basra refinery upgrade). The company pursues a "Triangular Alliance" nuclear strategy covering large reactors, SMRs, and molten salt reactors in partnership with TerraPower, Holtec, Fermi America, Thorizon, and Westinghouse. Secondary revenue comes from B2C residential sales of Hillstate apartment complexes in South Korea through branded sales centers, model homes, and the my HILLS digital platform, with the Generative AI Sales Consultant (June 2026) representing the latest digital sales enhancement.

In 2025, HDEC secured record annual orders of 25.51 trillion won (~$18.5 billion), up 39% from 18.31 trillion won in 2024 — the highest annual orders ever recorded by a Korean construction company. Growth has been driven by energy transition projects including nuclear (US, Finland), solar (Texas Lucy Project), and offshore wind (Korea Shinan-Ui). The company combines proprietary construction technologies (H-DBP foundation method, 3D BIM, Smart BEMS, modular elevator systems, low-carbon cement) with Hyundai Motor Group synergies (Hyundai Steel floating offshore wind, HD Hyundai Heavy Industries reactor manufacturing, HTWO hydrogen ecosystem). ESG credentials are strong: 15 consecutive years DJSI World Index inclusion, 8 consecutive years CDP Hall of Fame, and MSCI ESG A rating upgraded in 2025.

Name

Hyundai Engineering & Construction

Legal name

Hyundai Engineering & Construction Co., Ltd.

Website

https://hdec.kr

Company type

Public

Founded year

1947

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Hyundai Engineering & Construction is a South Korea-based global EPC contractor executing infrastructure, nuclear, energy, and residential housing projects across 62 countries, with $18.5B in 2025 orders and a flagship Hillstate apartment brand.

Ownership category

akta.pro rank

Product category

Engineering, Procurement and Construction (EPC) Services

NAICS

Industrial Building Construction (23621), Heavy and Civil Engineering Construction (237), Engineering Services (54133), Power and Communication Line and Related Structures Construction (237130)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), Services-Engineering Services (8711), General Bldg Contractors - Nonresidential Bldgs (1540)

akta.pro primary industry

Power Generation Plant Construction (Thermal, Hydro, Nuclear) (IMAFADAC)

akta.pro secondary industries

Nuclear Plant EPC & Construction (EUAEAAAC), Chemical & Petrochemical Plant Construction (IMAFADAA), Overhead & Underground Collection System Construction (MV/HV Lines, Duct Banks) (EUAEADAG), Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ)

Keywords

• Engineering procurement construction
• Infrastructure construction services
• Residential housing development
• Nuclear power plant construction
• Renewable energy infrastructure

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. EPC Construction Contracts: Hyundai E&C generates the majority of revenue through large-scale Engineering, Procurement, and Construction (EPC) contracts for infrastructure, energy plants, and industrial facilities. Projects include nuclear power plants, gas treatment plants, refineries, petrochemical facilities, roads, bridges, tunnels, and marine structures. Revenue is project-based, one-time, and derived from contract awards. The company reported 25.51 trillion won in annual orders for 2025, a record high for a Korean construction company.
2. Residential Housing Sales (Hillstate Brand): Hyundai E&C develops and sells apartment complexes under the Hillstate brand in South Korea. Revenue is generated from unit sales at projects like Hillstate Seonam Lake Park (753 units), Hillstate Pyeongtaek (1,918 units), Hillstate Gaya (487 units), and others. Occupancy scheduled for 2027-2028 for various projects.
3. Nuclear Construction Services: Revenue from nuclear power plant construction services globally, including partnerships with Holtec (Palisades SMR-300 project in Michigan), Fermi America (Project Matador AP1000 reactors in Texas), and European nuclear projects in Finland, Bulgaria, Netherlands, and UAE.
4. Renewable Energy Development: Development and construction of renewable energy projects including solar farms (Lucy Solar Project in Texas, Seosan Solar), offshore wind (Shinan-Ui project in Korea), and hydrogen production facilities, often as consortium leader or partner.
5. Refinery and Petrochemical Plant Construction: Construction of oil refining and petrochemical processing facilities, including the Basra Refinery Upgrade Project in Iraq ($1.5 billion) and S-Oil Shaheen ethylene facility in Ulsan (9.258 trillion won investment).

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

Hyundai Engineering & Construction is a global EPC contractor delivering large-scale infrastructure, building, housing, power plant, and renewable energy projects across 62 countries, while also developing and selling premium residential apartment complexes under its Hillstate brand in South Korea. The company has built 24 nuclear reactors worldwide and executes mega-projects via direct contracts and consortium partnerships with governments and multinational corporations.

Product overview

Hyundai Engineering & Construction operates as a diversified engineering, procurement, and construction (EPC) company with five core business divisions: Infrastructure (roads, bridges, tunnels, railways, marine/offshore), Building & Development (industrial facilities, mixed-use, hospitals, offices, special projects), Housing (Hillstate apartment brand including luxury THE H line), Power & Plant (nuclear power including SMR, oil & gas, petrochemicals, industrial plants, transmission), and Future & Environment (decommissioning, SMR, renewable energy). The company offers technology-driven residential products including Smart BEMS energy management, modular elevator systems, and AI-powered sales consultation services. The Hillstate brand, now in its 20th year, is supported by the H Culture Club lifestyle program. The company also participates in Hyundai Motor Group's HTWO hydrogen ecosystem for clean energy solutions.

Differentiator

Problem solved

Functional benefit

Brands

• Hillstate: Premium apartment brand launched in 2006, serving as Hyundai E&C's flagship residential housing brand with over 20 years of market presence.
• THE H
• D.H. (디에이치)

Products and services

• Hillstate (힐스테이트) Residential Apartments Hyundai E&C's flagship premium apartment brand offering residential complexes across South Korea with smart home technologies, energy-efficient designs, and H Culture Club lifestyle services. Projects include Hillstate Seonam Lake Park (753 units), Hillstate Pyeongtaek (1,918 units), Hillstate Gaya (487 units), and Hillstate Goduk Elitist (2,122 units).
• THE H Luxury Residences Ultra-premium luxury residential brand from Hyundai E&C featuring exclusive lifestyle services and high-end amenities, including the H Culture Club premium residential service program (originally THE H exclusive, expanded to Hillstate complexes in 2024).
• D.H. (디에이치) Luxury Residences Premium luxury residential brand featuring premium design, art installations, and exclusive community facilities including sky lounges and fitness centers. First launched with the D-Honors Hills complex in Gaepo-dong, Seoul (23 buildings, 1,320 units across B3F to 33F), the first redeveloped Gaepo-dong public housing complex site.
• H Culture Club (H 컬처클럽) Lifestyle Service Premium lifestyle service program for Hillstate and THE H residents offering cultural, artistic, rest, health, and lifestyle convenience services through partnerships with premium brands and service providers. Expanded from THE H to Hillstate complexes in 2024.
• Generative AI Sales Consultant (생성형 AI 시범 상 담사) ChatGPT-based AI consultation service deployed for Hillstate residential sales inquiries, subscription scoring calculations, and policy information retrieval, providing 24-hour real-time natural-language support for residential buyers across model homes, websites, and mobile apps.
• Infrastructure Construction (Infrastructure: roads, bridges, tunnels, railways, marine/port) Civil engineering EPC services for roads, bridges, tunnels, railways, and marine/port structures across domestic and international markets. Notable projects include Hanoi Metro Line 3 (Hyundai E&C–Ghella JV, 2.9 km parallel tunnels) and the Sheikh Jaber Al-Ahmad Al-Sabah Causeway in Kuwait (36.1 km total length).
• Building & Development Construction EPC services for industrial facilities, mixed-use developments, hospitals, offices, and special buildings. Includes notable projects such as the Qatar National Museum in Doha (opened March 2019).
• Nuclear Power Plant Construction Large-scale nuclear power plant EPC including next-generation technologies: SMRs (Holtec SMR-300 at Palisades), AP1000 reactors (Fermi America's Project Matador, 11 GW, 4 reactors in Texas), Natrium sodium-cooled fast reactor (TerraPower), and molten salt reactors (Thorizon). Includes decommissioning services.
• Oil & Gas Plant Construction EPC for oil and gas processing facilities including gas treatment plants, gas processing complexes, and LNG infrastructure. Notable contract: 853.1 billion won gas treatment plant in Usmania, Saudi Arabia for Saudi Aramco, separating natural gas liquids (ethane, propane) from 1.4 cubic feet of regional gas production.
• Refinery and Petrochemical Plant Construction EPC for oil refining and petrochemical processing facilities. Notable: $1.5 billion Basra Refinery Upgrading Project in Iraq (producing gasoline from residual oil) and the 9.258 trillion won S-Oil Shaheen ethylene facility in Ulsan, Korea's largest petrochemical project.
• Industrial Plant Construction EPC for industrial and process plants, including transmission lines and substations, and large-scale data center facilities such as the 40 MW AI-focused Ansan Sihwa AI Data Center SEL02.
• Renewable Energy Infrastructure Development and construction of renewable energy projects including utility-scale solar farms (Lucy Solar 350 MW in Texas, Seosan 65 MW in Korea), offshore wind (Shinan-Ui 390 MW), water electrolysis hydrogen production (Buan 2.5MW, 1 ton/day), and CCUS / e-SAF facilities.

Quantifiable outcome

• Reduced construction period by up to 2 months using modular elevator technology
• +6 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature10 records

Partnerships

19 partnerships are on record, tiered minor and core.

• LG ChemicalminorStrategic or Co-development Partner · 25 June 2026Hyundai E&C selected as participant in Ministry of Science ICT's CCU mega-project for e-SAF (sustainable aviation fuel) production technology alongside LG Chemical and 8 other institutions. Hyundai E&C provides CO2 capture and conversion process research, pilot plant design and technical support for converting captured CO2 and clean hydrogen into sustainable aviation fuel.
• Koramco Asset Management and DCI Data CenterminorChannel Partner/ Reseller/ Distributor · 24 June 2026Hyundai E&C serving as main contractor for 40 MW AI-focused data centre (Ansan Sihwa AI Data Center SEL02) being developed by Koramco Asset Management and DCI Data Center in the Sihwa National Industrial Complex, Gyeonggi Province, South Korea.
• HD Hyundai Heavy IndustriescoreStrategic or Co-development Partner · 21 May 2026HD Hyundai Heavy Industries signed framework agreement with TerraPower for preferred manufacturing of Natrium Reactor Enclosure System components, with tripartite cooperation including Hyundai E&C for EPC of next-generation nuclear power projects globally. Positions HD Hyundai group for global SMR market entry and commercialization of sodium nuclear plants worldwide.
• TerraPowercoreStrategic or Co-development Partner · 20 May 2026Framework agreement with HD Hyundai Heavy Industries and tripartite MOU with Hyundai E&C for engineering, procurement, and construction of Natrium 345-MW sodium-cooled fast reactor plants globally. Hyundai E&C provides EPC services for US and international Natrium reactor deployments. The partnership follows a year-long joint feasibility study and positions the group for entry into the global SMR market targeting first commercial plant completion by 2030.
• Hyundai Motor GroupcoreStrategic or Co-development Partner · 18 May 2026Hyundai Motor Group signed multi-party MoU with Korean, Chinese, Hong Kong, and French companies to establish a hydrogen ecosystem in Hong Kong. HTWO Guangzhou supplies fuel cell systems. Target: fully operational hydrogen ecosystem by end of 2030 with waste-to-hydrogen production, liquid hydrogen refueling stations, and hydrogen-powered commercial vehicles. Positions Hong Kong as strategic base for APAC hydrogen expansion.
• China Construction Sixth Engineering BureauminorStrategic or Co-development Partner · 16 May 2026Strategic partnership MOU with China Construction Sixth Engineering Bureau (subsidiary of China State Construction Engineering Corporation) to explore joint overseas projects, particularly in emerging markets. Part of Hyundai E&C's growth strategy to expand international footprint and urban development offerings globally.
• Fortum and Westinghouse (Finland Nuclear)minorStrategic or Co-development Partner · 12 April 2026Hyundai E&C conducting preliminary work with Finnish state-owned energy company Fortum and U.S.-based Westinghouse for a new large-scale nuclear power plant project in Finland. Discussions with Finnish delegation led by Minister Ville Tavio centered on combining Finland's thermal energy technology with Hyundai E&C's EPC capabilities as Finland pursues carbon neutrality by 2035.
• H-Safe Open Innovation Challenge Startups (7 selected)minorOthers · 9 April 2026Hyundai E&C selected seven startups for the 2026 H-Safe Open Innovation Challenge to develop safety innovations for construction sites. Selected companies collaborate on proof of concept projects over three months, potentially leading to further contracts and development opportunities.
• Korea Institute of Civil Engineering and Building Technology (KICT)minorStrategic or Co-development Partner · 7 April 2026Business agreement to develop future mobility infrastructure including software-defined roads and hyperloop systems. Focus areas include digital road management, hyperloop infrastructure (vacuum tubes for magnetic levitation trains exceeding 1,000 km/h), and smart city development applications using traffic simulation and smart road management technologies.
• Holtec InternationalcoreStrategic or Co-development Partner · 4 April 2026Hyundai E&C serves as lead construction company for Holtec's Pioneer Units 1 and 2 SMR project (SMR-300 technology) at Palisades nuclear power plant in Michigan. Hyundai E&C formed a technical advisory committee of 140+ nuclear experts from 71 companies across 22 countries. The project is supported by $400 million DOE grant and targets commercial operation in the 2030s, part of a 10 GW North American fleet alliance.
• JGC HoldingsminorChannel Partner/ Reseller/ Distributor · 3 April 2026JGC Holdings and Hyundai Engineering & Construction considering a joint venture as the EPC contractor for a new LNG plant in Port Moresby, Papua New Guinea, associated with the Papua LNG project. Final contract confirmation expected in 2026.
• SupremaminorStrategic or Co-development Partner · 20 March 2026Three-party MOU with Hyundai Motor Group Robotics LAB and Hyundai Engineering & Construction to integrate AI-powered service robots into residential complexes. Suprema provides AI facial authentication and BioStar X platform as security infrastructure; Hyundai Robotics LAB develops robot services; Hyundai E&C creates robot-friendly architectural designs. Plans for proof-of-concept tests and commercialization of AI-equipped robots for delivery, security, guidance, and patrol tasks.
• ThorizoncoreStrategic or Co-development Partner · 19 March 2026Strategic MOU signed at Thorizon's Amsterdam headquarters for global deployment of the Thorizon One molten salt reactor (MSR). The partnership forms part of Hyundai's 'Triangular Alliance' nuclear strategy covering large reactors, SMRs, and MSRs, with initial focus on Northern European markets (Finland, Sweden). Thorizon has secured €10m French government subsidy and €10m EU Just Transition Fund, targeting construction start by 2030.
• WebuildminorStrategic or Co-development Partner · 17 March 2026MOU for strategic partnership targeting complex infrastructure development in port, airport, and defense infrastructure as well as green energy sectors across Asia-Pacific and North America. Provisions for joint ventures tailored to specific projects in PPP, EPC, or Design & Build modes.
• Hyundai SteelminorStrategic or Co-development Partner · 15 March 2026Joint research agreement to co-develop a floating offshore wind platform combining specialty marine-grade steel with concrete. Target: 20% fabrication cost reduction through structural optimization and modular construction. Hyundai E&C leads engineering and modular fabrication; Hyundai Steel provides specialized steel grades for marine environments. Targets floating offshore wind market projected to reach 250 GW and $1 trillion by 2050.
• KIND and Korea Investment Real AssetminorStrategic or Co-development Partner · 27 February 2026Business agreement for joint pursuit of overseas real estate projects including housing development and sales in the US, New Zealand, Australia, and Bulgaria. Combined expertise and resources leveraged for long-term collaboration in global real estate development.
• Fermi AmericacoreStrategic or Co-development Partner · 11 February 2026FEED (Front-End Engineering Design) contract for four AP1000 nuclear units at Project Matador — an 11-GW private energy campus near Amarillo, Texas. Hyundai E&C hosted a Dallas seminar with ~100 US companies to align on nuclear construction standards, modular construction, heavy lifting, and workforce training. The partnership aims to finalize an EPC deal in H1 2026 targeting first nuclear online by 2032.
• Hanwha Ocean, SK Eternix, KOMIPO, Future Energy FundminorStrategic or Co-development Partner · 29 December 2025Consortium for Shinan-Ui offshore wind project in South Korea — 390 MW offshore wind order secured by Vestas. Hyundai E&C part of the consortium with Hanwha Ocean, SK Eternix, KOMIPO, and Future Energy Fund.
• Emirates Nuclear Energy Company (ENEC)minorStrategic or Co-development Partner · 28 July 2025International collaboration agreement signed between ENEC and Hyundai E&C to jointly explore global nuclear energy opportunities. This partnership positions ENEC to expand nuclear energy reach through partnerships with established global nuclear technology and construction firms.

Scale indicators19 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Samsung C&T Corporation: Korean EPC and construction major; directly competes with Hyundai E&C across residential (Raemian brand), nuclear, civil infrastructure, and plant construction in domestic and global tenders — historically the closest one-to-one peer.
• GS Engineering & Construction: Korean EPC contractor with overlapping power plant, oil & gas, and residential (Xi brand) portfolios; competes directly with Hyundai E&C for the same mega-project tenders in the Middle East and Asia-Pacific.
• Daewoo Engineering & Construction: Another major Korean EPC contractor competing in nuclear, civil infrastructure, and residential; comparable global project execution footprint and similar investor profile.
• POSCO E&C: Korean construction firm with strong position in industrial plant and civil engineering work; competes with Hyundai E&C in steel-intensive plant construction and large infrastructure projects.

Broad incumbents

• Bechtel Corporation: U.S.-headquartered global EPC leader with extensive nuclear, energy, and infrastructure track record; the most direct international counterpart for Hyundai E&C's nuclear and mega-project ambitions.
• Fluor Corporation: Global engineering and construction firm with comparable portfolios in nuclear, refining, petrochemical, and energy transition projects; competes for the same large-scale LNG and EPC tenders worldwide.
• Jacobs Solutions: Engineering services and construction firm with critical mission solutions including nuclear, environmental, and advanced infrastructure — comparable in technical consulting and EPC delivery.
• Vinci Construction: Major European construction and civil engineering group with comparable capability in large-scale infrastructure, energy projects, and concessions; relevant peer for Hyundai E&C's overseas civil and energy push.
• Skanska AB: Swedish-headquartered construction and project development firm with strong sustainability credentials (DJSI-cited peer); comparable in civil infrastructure and ESG leadership in the construction sector.

Others

• Hyundai Engineering: Wholly-owned subsidiary of Hyundai E&C focused on industrial plant EPC (refineries, petrochemicals, gas processing); recently integrated R&D with parent via HMG Construction Technology Research Institute — more like a sister operating unit than a competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

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• Xx.com/hyundaienc

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hyundai Engineering & Construction