Hyundai Heavy Industries, today opened its global R&DCenter in Shanghai, China to target the world´s largest market and attract talentedengineers from around the world. The new R&D center will focus on developing construction equipment, electro electric system equipment, and marine engines in the rapidly-growing Chinese market.

Long-term goals aredeveloping global strategic products such as smart-grid, offshore wind turbines, and robotsystems for global markets.Following the efforts of the Chinese government to attract foreign R&D investment, and a wellestablishedglobal technology network where many multinational corporations areheadquartered, Hyundai Heavy selected Shanghai as its global R&D base. Starting with 30engineers this year, the Company will employ 120 engineers by 2012, and 200 by 2013.

Industry-academic networks with research centers at Peking University, Tsinghua University,and Shanghai Jiaotong University will also play a role in developing core equipment andtechnology. With 600 engineers at its four domestic research centers and a technologycenter in Hungary, Hyundai Heavy has developed 31 “RWorld Class Products”, the most of any Korean company.

”The World Class Products” is a policy where the Ministry of Knowledge Economy of Koreaselects products that have over 5 percent global market share, rank within the Top 5 in theirmarket, and with an international market worth over USD 50 million annually.