Samsung Heavy Industries (SHI) has announced that it will sign an investment memorandum of understanding (MoU) with Busan City, South Korea, to establish an R&D Center.
The Busan R&D Center will focus on offshore design and engineering. According to the memorandum of understanding, Busan City will actively support the administrative work necessary for the establishment of the center, and SHI will move into a 1,700 square meter facility in downtown Busan by November.
The move is inspired by the booming shipbuilding and marine industry, and SHI expects to hire 170 people this year, following it already hiring 200 people last year.
Shin Hyeon-ho, Vice President in charge of personnel support at SHI, said, “Busan is an advantageous place to secure excellent human resources, as it has well-established clusters in shipbuilding and marine-related industries as well as shipping and ports, and there are many young talents in research institutes and universities.”