Skoceanplant
Public · 1 known investors
South Korean shipbuilder making naval and special vessels, offshore wind substructures, heavy-wall steel pipe and offshore plants.
Also known as Samkang M&T · SK Ocean Plant · SK Oceanplant · SK oceanplant Co., Ltd. · ì‚¼ê°•ì— ì•¤í‹°
Investors · 1
Company profile
researched Aug 2026SK Oceanplant Co., Ltd. is a South Korea-based shipbuilding and offshore fabrication company headquartered at 51-1 Naesan 3-gil, Goseong-gun (52918), with a shipyard in Goseong, South Gyeongsang Province. It is listed on the Korea Stock Exchange under stock code A100090 (ISIN KR7100090000, ticker 100090) and is classified in the shipbuilding sector. SK Ecoplant Co., Ltd. is its largest shareholder with 35.62%, followed by the National Pension Service of Korea (6.693%) and individual holders including Moo-Suk Song (5.287%) and Jung-Seok Song (3.34%).
The company reports through seven segments: Special Vessel (defense vessels and government ships), Offshore Wind (manufacture and sale of offshore wind power structures such as jacket substructures), Repair and Conversion (ship repair, conversion and periodic inspection), Heavy-Wall Steel Pipe (pipes for offshore and construction structures), Shipbuilding (newbuilds and block fabrication), Plant (offshore and onshore plant construction), and Other. Reported revenue is dominated by the Shipbuilding/Marine activity, which recorded KRW 1,013 billion in fiscal 2025 against KRW 771 billion in 2024 and KRW 1,103 billion in 2023, while the Steel Pipe Division contributed KRW 27.14 billion in 2025. The company employs 502 people.
SK Oceanplant is currently building an Ulsan-class Batch-III frigate for the South Korean Navy and is pursuing participation in future US Navy programs following a May 2026 site inspection of its Goseong yard by the US Department of Defense's Office of the Secretary of Defense Cost Assessment and Program Evaluation.
Business model
SK Oceanplant builds and sells vessels and fabricated steel structures on a project and contract basis, spanning naval and government special vessels, offshore wind substructures, new commercial vessels and blocks, offshore and onshore plants, heavy-wall steel pipe, and ship repair, conversion and periodic inspection services.
Traction
Fiscal 2025 revenue from the Shipbuilding/Marine activity was KRW 1,013 billion, up from KRW 771 billion in 2024, with KRW 27.14 billion from the Steel Pipe Division. The company reported second-quarter and half-year results for the period ended 30 June 2026, and first-quarter 2026 net income rose 124% year over year. Order book items include an Ulsan-class Batch-III frigate for the South Korean Navy and a KRW 416.9 billion supply contract with Anma Offshore Wind, the latter placed under temporary suspension in 2026.
Latest developments
In April 2026 the company disclosed the suspension of its Anma offshore wind supply contract. On 12 May 2026 (site visit 14th, announced Wednesday) a 14-member US Department of Defense OSD-CAPE delegation, including Naval Forces Division Director Kay Sullivan and representatives of the US Navy, Joint Chiefs of Staff and the US Embassy, inspected the Goseong shipyard and the Ulsan-class Batch-III frigate under construction, after which CEO Kang Young-kyu said the company would pursue future US Navy projects. In June 2026 the company held a "Win-Win Cooperation and Shared Growth Meeting" with suppliers covering safety, health and environment progress, quality risk response and a supply chain ESG consulting support program aimed at EU supply chain due diligence and mandatory domestic ESG disclosure requirements. Second-quarter and half-year 2026 earnings were reported on 13 August 2026.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
The company is categorized under "Other Shipbuilding" within the Korean shipbuilding sector and is tracked alongside larger listed peers including Hanwha Ocean, HD Korea Shipbuilding & Offshore Engineering, Samsung Heavy Industries and international yards such as China CSSC Holdings, Yangzijiang Shipbuilding, Seatrium and Fincantieri; its market capitalization of roughly $629 million is materially smaller than those peers. It is a supplier of offshore wind substructures to Korean offshore wind projects and a builder of frigates for the South Korean Navy, and it was one of the Korean yards selected for review by a visiting US Department of Defense cost and program evaluation team.
Technology
Capabilities cited include fabrication of offshore wind jacket substructures, construction of defense vessels including Ulsan-class Batch-III frigates, block fabrication, offshore and onshore plant construction, production of heavy-wall steel pipe for offshore and construction structures, and ship repair, conversion and periodic inspection, supported by production facilities, quality and safety management systems and project management processes reviewed during the OSD-CAPE inspection.
Go-to-market
Customers include the South Korean Navy and government agencies for defense and government vessels, offshore wind farm developers and their contractors, commercial shipowners requiring newbuilds, blocks, repair and conversion, and buyers of heavy-wall pipe for offshore and construction structures.
Geography
Operations are centered on the Goseong, South Gyeongsang Province shipyard in South Korea. Reported sales split between domestic South Korean revenue of KRW 588 billion and export revenue of KRW 378 billion in fiscal 2025, compared with KRW 399 billion domestic and KRW 264 billion export in 2024; in earlier years exports were the larger share (KRW 712 billion versus KRW 214 billion domestic in 2023). The company is pursuing US Navy work and its supplier ESG program is framed partly around European Union supply chain due diligence and carbon management requirements.
History
The business was previously known as Samkang M&T, a shipbuilding and equipment company that had manufactured offshore wind power structures since the early 2010s. SK ecoplant acquired Samkang M&T in November 2021 and incorporated it as a subsidiary, and in January 2023 the company was renamed SK Oceanplant; Yonhap reported the name change on 1 February 2023. Young-Kyu Kang became chief executive officer on 30 March 2026.
Risks & controversies
In April 2026 SK Oceanplant disclosed the suspension of orders and supply contracts worth KRW 416.9 billion signed with Anma Offshore Wind for the 4.9 trillion won ($3.5 billion) Anma offshore wind farm, describing it as a temporary suspension at the client's request and changing the contract end date from December 2027 to "undecided," prompting speculation that the 532 MW project has been postponed indefinitely amid military permitting obstacles arising from overlap with an Agency for Defense Development weapons testing area. Broader risk factors reported include the withdrawal or downsizing of foreign offshore wind developers in Korea, including TotalEnergies, Equinor and Corio Generation. The company carries an MSCI ESG rating of CCC and a mean analyst consensus of BUY from five analysts, with the share price down about 33.9% year to date as of the 25 August 2026 quote.
Compiled by commissioned research from 6 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 7
launches, deals, and filingsSK Oceanplant reported earnings results for the second quarter and six months ended 30 June 2026.
The company held a supplier meeting on ESG, safety and quality competitiveness, introducing a supply chain ESG consulting support program addressing EU supply chain due diligence and carbon management requirements and expanded domestic ESG disclosure obligations.
A 14-member delegation from the US Department of Defense Office of the Secretary of Defense Cost Assessment and Program Evaluation, with US Navy, Joint Chiefs of Staff and US Embassy representatives, inspected the Goseong shipyard, reviewing warship construction capability, cost competitiveness and the Ulsan-class Batch-III frigate under construction for the South Korean Navy.
SK Oceanplant disclosed the halt of its KRW 416.9 billion order and supply contract with Anma Offshore Wind for the 532 MW Anma offshore wind farm, calling it a temporary suspension at the client's request and revising the contract end date to "undecided." CS Wind similarly halted a KRW 36.7 billion contract.
Young-Kyu Kang became Chief Executive Officer as of 30 March 2026.
The company changed its name from Samkang M&T to SK Oceanplant; the change was reported by Yonhap News on 1 February 2023.
SK ecoplant acquired shipbuilding and offshore equipment maker Samkang M&T and incorporated it as a subsidiary.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 6
primary sources listed
- SK oceanplant Co.,Ltd: Shareholders Board Members Managers and Company Profile | KR7100090000 | MarketScreenermarketscreener.com · web
6 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Skoceanplant do?
- South Korean shipbuilder making naval and special vessels, offshore wind substructures, heavy-wall steel pipe and offshore plants.
- Who are Skoceanplant's investors?
- Skoceanplant's investors include Atinum Investment Co. Ltd..