en.Wedoany.com Reported - At its 52nd regular shareholders' meeting held at the Pangyo R&D Center in Gyeonggi-do, Samsung Heavy Industries of Korea passed the resolution for the re-election of Choi Sung-an as an internal director of the company. This means Choi Sung-an will continue to lead Samsung Heavy Industries for another three years.

Choi Sung-an was designated as the representative director and vice chairman of Samsung Heavy Industries during Samsung Group's 2023 regular executive personnel reshuffle, leading the company alongside then-President Jung Jin-taek under a "dual leadership" management system. With Jung Jin-taek's term ending in March 2024 and his subsequent retirement, Samsung Heavy Industries transitioned to a "single leadership" system under Vice Chairman Choi Sung-an. This marks the first time in 13 years, since 2009, that Samsung Heavy Industries has appointed a vice chairman to the representative director position.

Choi Sung-an joined Samsung Engineering's Chemical Business Group in 1989. He served as Project Manager of the Refining Business Division in 2005, and held positions including Head of Procurement and Head of the Plant Business Division 1 in 2012. From 2017, he served as a representative of Samsung Engineering. With over 30 years of experience at Samsung Engineering alone, he has demonstrated exceptional capabilities, particularly in the plant business sector. Therefore, it is expected that Choi Sung-an will leverage his expertise as a plant specialist accumulated over more than three decades at Samsung Engineering to spearhead Samsung Heavy Industries' efforts in securing offshore equipment orders and solidify the foundation for the company's sustained growth.

After assuming the role of representative director at Samsung Heavy Industries in 2023, Choi Sung-an led the company's efforts to improve profitability, successfully steering it out of losses. In 2023, Samsung Heavy Industries recorded revenue of 8.0094 trillion won (approximately 43.36 billion yuan) and operating profit of 233.3 billion won (approximately 1.26 billion yuan), marking its first return to profitability since 2015. In 2024, revenue reached 9.9031 trillion won (approximately 7.3 billion USD, 51.9 billion yuan), a 23.6% year-on-year increase, with operating profit surging 115.5% year-on-year to 502.7 billion won (approximately 370 million USD, 2.636 billion yuan). In 2025, revenue was 10.65 trillion won (approximately 7.489 billion USD, 53.72 billion yuan), up 7.5% year-on-year, and operating profit reached 862.2 billion won (approximately 606 million USD, 4.35 billion yuan), a 71.5% year-on-year increase, setting a 12-year record high.

As an offshore equipment expert, Choi Sung-an has been dedicated to enhancing Samsung Heavy Industries' competitiveness in the FLNG (Floating Liquefied Natural Gas) sector.

It is reported that U.S.-based Delfin Midstream, which originally planned to build FLNGs at Chinese shipyards, has decided to entrust Samsung Heavy Industries with the construction of all three FLNGs. The company recently extended its Letter of Intent (LOI) agreement with Samsung Heavy Industries for FLNG construction in the Gulf of Mexico and indicated that the Final Investment Decision (FID) for the project is imminent. According to this agreement, Delfin Midstream designated Samsung Heavy Industries as the exclusive Engineering, Procurement, Construction, and Installation (EPCI) contractor for the first FLNG of its Delfin LNG project under development in Louisiana. The two parties will initiate "Early Engagement" work, including forming a project team, reducing overall project schedule risks, and preparing for the formal execution of the project.

Simultaneously, Delfin Midstream also decided to collaborate with Samsung Heavy Industries on the construction of the second and third FLNGs. According to the agreement, both parties agreed to reserve a construction dock for the second FLNG after the FID for the first FLNG is made, enabling Delfin to make the FID for the second FLNG in early 2026. Furthermore, for the third FLNG, Delfin and Samsung Heavy Industries plan to jointly develop strategic business and trade cooperation opportunities, including further collaboration in shipbuilding. If this project ultimately succeeds, Samsung Heavy Industries' leading position in FLNG orders will be further solidified.

For this year, Choi Sung-an has set three major goals: driving future growth, securing super-gap technologies, and enhancing global competitiveness through "3X Transformation." "3X" is Samsung Heavy Industries' core innovation strategy for ensuring future competitiveness, revolving around three axes: Digital Transformation (DX), Carbon neutrality (CX), and Collaboration & Expansion (EX). Choi Sung-an emphasized, "Samsung Heavy Industries will become a pioneer in 3X Transformation."

Choi Sung-an stressed, "Through structural innovation, Samsung Heavy Industries will create FLNGs with overwhelming competitiveness and develop globally standardized models. 2026 will also mark the first year of application for the LNG cargo tank independently developed by Samsung Heavy Industries." High-value-added offshore equipment like FLNG is considered the essence of EX (Expansion).

Choi Sung-an has also laid the groundwork for Samsung Heavy Industries' expansion into the U.S. market. Recently, Samsung Heavy Industries submitted documents to the U.S. Navy to obtain a Master Ship Repair Agreement (MSRA) and is preparing for U.S. vessel MRO (Maintenance, Repair, and Overhaul) and new construction projects. Choi Sung-an stated, "The company plans to steadily build the foundation for the Korea-U.S. shipbuilding industry cooperation project 'MASGA.' Based on its unique DNA for success, Samsung Heavy Industries will demonstrate the competitiveness it has accumulated through tangible results."

The Korean industry believes that following his re-election as an internal director, Choi Sung-an will continuously explore new businesses while maintaining management stability, thereby solidifying Samsung Heavy Industries' position as a "powerhouse in offshore equipment."

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com