HD Hyundai Heavy Industries

Stock Symbols
company headquarters
South Korea

The world's largest shipbuilding company and a major heavy equipment manufacturer. Its products are used to demolish homes and to construct illegal settlements in the occupied West Bank and Golan Heights.

HD Hyundai Heavy Industries, formerly Hyundai Heavy Industries, is the world's largest shipbuilding company and a major heavy equipment manufacturer. After a series of corporate restructurings in 2020 and 2021, its parent company is Korea Shipbuilding & Offshore Engineering, whose ultimate parent is HD Hyundai. All three companies are incorporated in South Korea and traded on the Korea Exchange.

The company's track excavators and other machinery have been used in various construction projects in illegal Israeli settlements and industrial zones in the occupied West Bank, including occupied East Jerusalem. For example, in 2017, Hyundai machinery was used to pave a settler-only road in the occupied West Bank, as reported by Who Profits. The construction of the road involved uprooting some 700 olive trees belonging to Palestinians in the area.

Hyundai track excavators have also been used to demolish the homes of Palestinians in at least eight Palestinian villages or neighborhoods in the occupied West Bank and Golan Heights.

Economic Activism Highlights
  • On March 3, 2019 the Swarthmore Student Government Organization passed a resolution calling on "Swarthmore College and its Board of Managers to implement a screen on investments in companies involved in repeated, well-documented, and severe violations of international human rights law in Israel / Palestine, including: Elbit Systems Ltd, Lockheed Martin Corp, Boeing Co, Bank Hapoalim BM, Hewlett Packard Enterprise Co, Hyundai Heavy Industries Co Ltd, and Caterpillar Inc." 
  • On April 18, 2018, Barnard College Student Government Association passed a referendum calling for the university to divest from eight companies profiting from Israel's occupation of Palestine. The companies listed include Hyundai, Caterpillar, Lockheed Martin, Boeing, Elbit Systems, Hewlett Packard Enterprise, and Bank Hapoalim.
  • On June 12, 2017, Swedish Bank SEB added [insert company name] in its no-buy-list. The bank declared that it is removing from all its funds forty companies "that violate international standards for the environment, corruption, human rights and labor law." The bank had previously stopped investing in companies involved in nuclear programs and in coal production.
Unless specified otherwise, the information in this page is valid as of
15 August 2022