Samsung Heavy Industries Co. will sell its research center near Seoul in a sale-leaseback transaction, marking the latest move by South Korean shipbuilders to shore up finances and fund new technologies.
The company plans to sell the Pangyo R&D facility to real estate investment trust Igis Long Whale No. 1 for 400 billion won ($307 million), while maintaining operations at the site through a leaseback arrangement. The eight-story building, completed in 2014, will continue to house Samsung Heavy’s research activities.
The transaction reflects mounting pressure on Korean shipyards to invest in cleaner vessel technologies as environmental regulations tighten across the maritime industry. Samsung Heavy said it would channel funds from the sale into developing eco-friendly ships and automated navigation systems.
The deal comes as shipbuilders face growing demand for vessels powered by liquefied natural gas and ammonia amid a broader industry shift toward lower-emission fuels. Samsung Heavy has been expanding its capabilities in unmanned operations and autonomous shipping technology.
The R&D center, spanning 7,460 square meters in Seongnam City’s Bundang district, includes five underground levels. The company indicated the sale would help strengthen its financial position while ensuring continued access to the research facility.
