Petroleum and Natural Gas Minister Hardeep Singh Puri held a series of high-level meetings in South Korea on November 13–14. The discussions focused on strengthening maritime cooperation and accelerating India’s shipbuilding ambitions under the Maritime Amrit Kaal Vision 2047.
During his visit, Puri toured the HD Hyundai Heavy Industries shipyard in Ulsan — the world’s largest, spread across 1,680 acres — where he described the discussions as “highly productive.” He said India’s rapidly expanding energy and shipping sectors, supported by the Make in India programme and a large young workforce, offer Korean shipyards a strong opportunity to “make in India for the world.”
With nearly 20 per cent of global vessels expected to be connected to India in the next 15 years, Puri underlined the strategic need for closer cooperation. India, a major energy importer, spends USD 5–8 billion annually on freight, and public sector companies alone may require as many as 59 crude, LNG and ethane carriers. He also reviewed progress on an MoU with Cochin Shipyard and said plans for a block fabrication facility would be finalised soon.
The minister’s visit to Ulsan followed a meeting on Thursday with HD Hyundai chairman Chung Ki-sun at the company’s Global R&D Centre in Seongnam. Hyundai briefed the delegation on its ship design capabilities and smart shipyard systems. Puri said these strengths could support India’s plan to expand its commercial fleet from 1,500 to 2,500 vessels and mobilise USD 24 billion in investments under the Maritime Amrit Kaal Vision.
Earlier on Friday, Puri met the heads of Korea Ocean Business Corporation, SK Shipping, H-Line Shipping and Pan Ocean. He noted that while India’s crude and gas imports — valued at over USD 150 billion — are entirely seaborne, only around 20 per cent of this cargo is transported on Indian-flagged or Indian-owned vessels. With rising demand for crude oil, LPG, LNG and ethane, and ONGC expected to need close to 100 offshore and platform supply vessels by 2034, he said combining Korean shipbuilding technology with India’s manufacturing base provides a strong platform for long-term cooperation.
In Seoul, Puri also met Hanwa Ocean president and CEO Kim Hee-Cheul. He invited the company to explore India’s expanding shipbuilding opportunities under Make in India. Pointing out that the oil and gas sector is the largest commodity group handled at Indian ports but is largely carried on non-Indian vessels, he said India aims to convert this gap into a strategic advantage. Indian PSUs, Puri added, are ready to partner with Korean firms to manufacture LNG and crude carriers, strengthening long-term maritime capacity creation.