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Chung Ju-yung, the late founder of the Hyundai Group, created "Hyundai" as a construction company in 1947. Chung decided to enter into shipbuilding in the early 1970s despite the fact that Hyundai had no experience, capital, or shipbuilding technology whatsoever. Despite these challenges, the company received orders for two 260,000-dwt VLCCs from George Livanos of Greece while Hyundai's Shipyard was still in the planning stages.

In March 1972, ground was broken on an empty stretch of beach in Ulsan to construct what would become the world's largest shipyard. Hyundai then started building the two VLCCs and the shipyard simultaneously. Two years later, in 1974, Hyundai held a ceremony to simultaneously name the two VLCCs and dedicate the shipyard.

Capturing the imagination of the international maritime community, the event was an historical first step for Hyundai Heavy Industries.

2008- Achieved 80 million bhp in marine engine production
- Groundbreaking for Gunsan Shipyard
2007- Built world's largest LNG carrier(216,000㎥)
- Produced world's most powerful ship engine
- Launched Korea's first Aegis destroyer
2006- Delivered 1,800-ton class submarine, 'Son Wonil Ham'
- Delivered Korea's first oil development project (Rong doi, Vietnam)
2005- Produced 2000th propeller
- Achieved 50 million bhp in marine engine production
2004- Launched the first ship built using the On-ground Build Method
- Delivered a next-generation 4,500-ton Destroyer (KDX-II)
- Produced the world's largest propeller (diameter: 9.1m, girth: 29m)
2003- Achieved 40 million bhp in marine engine production
- Established their 3rd joint-venture in China
- Produced 1500th propeller
2002- Inauguration of Hyundai Heavy Industries
- Delivered 1,000th ship, bringing total ship tonnage to 80 million dwt
2001- Delivered the world's largest FPSO (343,000 dwt)
2000- Developed Korea's first in-house marine diesel engine ("HiMSEN") 1999- Produced 1000th propeller
1998- Listed shares on the Korean Stock Exchange
1997- Achieved 50 million dwt in ship construction
- Established Hyundai Electro-Mechanical Research Institute (HEMRI)
1994- Delivered Korea's first LNG carrier
1986- Delivered the world's largest ore carrier (365,000 dwt)
1985- Ranked "World's Top Shipbuilder" by Japanese journal Diamond
1984- Established Hyundai Maritime Research Institute (HMRI)
1983- Established Hyundai Industrial Research Institute (HIRI)
: the first privately run institute in Korea
1974- Simultaneously completed construction of shipyard and two
1972- Groundbreaking for shipyard
Hyundai 45L-7 Hyundai 45L-7 at a dealer in the Netherlands.

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