Korea's only furniture maker in the marine segment, Hyundai Livart signs interior supply deal with Geoje shipyard

The interior of a passenger vessel recently furnished and fitted out by Hyundai Livart. [Hyundai Livart]
The interior of a passenger vessel recently furnished and fitted out by Hyundai Livart. [Hyundai Livart]

Hyundai Livart said Monday its ship furniture business has doubled in size over the past three years.

The company is the only furniture maker in South Korea to operate a dedicated ship furniture business. It recently signed a contract with a shipyard in Geoje, South Gyeongsang Province, to supply furniture and crew welfare interiors for container ships.

Under the deal, Hyundai Livart will design and install custom-built furniture across 13 container ships — each roughly the size of four soccer fields — outfitting cabins as well as crew welfare spaces including community lounges, restaurants, cinema rooms and fitness centers.

Beyond this contract, the company wins orders for interiors and furniture on roughly 60 vessels a year. Last year, sales from its ship furniture business reached 30 billion won (about $19.4 million), a record high and double the figure from 2022.

The company said the strong performance stems from applying its total interior solution capabilities — proven through hotel projects — to the marine segment. When Hyundai Livart takes on a full turnkey interior contract for a vessel, revenue per ship reaches 500 million to 700 million won, roughly twice the 200 million to 300 million won generated from furniture supply alone.

Another competitive advantage is the company's two dedicated ship furniture factories — the Gyeongju factory near Ulsan and the Mokpo factory near Mokpo — both located close to major shipbuilding clusters. The proximity allows the company to respond quickly to customer needs.

Industry observers expect the shipbuilding boom to continue for now, keeping growth in the ship furniture market on track. As interest in crew welfare rises, demand is shifting beyond basic furniture supply toward total interior packages that include rest areas and community facilities. Some analysts forecast that ship furniture will emerge as a new B2B growth engine for furniture companies.

"We will continue to expand our B2B business by leveraging the strengths and know-how we have built across residential furniture, ship furniture and hotel interiors," a Hyundai Livart official said.


boo@heraldcorp.com