Hyundai Heavy Industries Co Ltd

Stock Symbols
KRX
:
9540
KRX
:
267270
company headquarters
South Korea
ISSUES

The world's largest shipbuilding company and a global leader in heavy equipment manufacturing. Provides equipment that Israel uses to demolish Palestinian homes in the occupied Palestinian territory.

Hyundai Heavy Industries (HHI) is the world's largest shipbuilder and among the top five manufacturers in other heavy industries.

The company's construction equipment division manufactures excavators, wheel loaders, skid steer loaders and forklift trucks, which are distributed in Israel through Efco Equipment -a large Israeli importer of construction machinery.

Hyundai's track excavators were used in many house demolitions in the Palestinian neighborhoods of Beit Hanina, Silwan, Tsur Baher, Issawiya and At-Tur in East Jerusalem. The company's tools also preformed demolitions in Beit Jala and in the villages of Jawaya and Derath in the South Hebron Hills.

Hyundai excavators were documented during construction works in the settlement of Halamish and in the Barkan Industrial Zone.

The models used for all of these tasks are: 320LC-7, 320LC-9, 290LC-9 and 450LC-3.

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.