📅 Samsung Heavy Industries: Leading the labor deal, with earnings on the horizon - 2026.10.26

Hi, it’s Goguma. 🍠 Today, labor negotiations and the earnings announcement schedule caught my eye more than the stock price, so let’s start there.

📅 The earnings announcement date is set

According to the shipbuilding industry, Hanwha Ocean is scheduled to announce its third-quarter earnings on the 27th, HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Heavy Industries on the 28th, and Samsung Heavy Industries on the 29th ^[1]. This is a schedule reported by the industry, not a date confirmed in a company filing. No one knows yet what the earnings figures will look like.

🤝 Samsung Heavy Industries is ahead in labor negotiations

Among the three shipbuilders, only Hanwha Ocean has yet to resolve its wage and collective bargaining agreement dispute. Samsung Heavy Industries reached an agreement first, while HD Hyundai Heavy Industries is said to be close to a deal ^[2]. It’s interesting that negotiations are moving at different speeds even within the same industry. The sources don’t say how the agreements could affect earnings or share prices, though, so I’ll draw the line there.

There’s also a business-related update. It concerns an MOU with Cibori to develop an AR welding training simulator. Youngil Education System reportedly announced on September 16 that the agreement had been signed. Cibori is a company for which Youngil Education System serves as the exclusive distributor in Korea ^[4]. Finance Today also reported on the same agreement ^[3]. Since this is about training workers for shipbuilding sites, I see it more as news about technology and labor than as a major catalyst.

⚖️ The subcontracting issue remains in the shadows

Newsfield reported that despite repeated sanctions against Samsung Heavy Industries related to subcontracting, a subcontractor is pleading over debt of 13,800,000,000 KRW ^[5]. The sources don’t confirm the specifics or circumstances of the sanctions, so I’ll stick to what the headline says. This brings the subcontractor story we’ve covered before back into focus. The key question remains whether the expectations for the main contractor’s earnings and the circumstances of its subcontractors are moving in the same direction.

📉 The stock moved lower

According to the price data table, the closing price on the 26th was ₩16,300, with a change of -3.15%. Trading volume was 1,996,001. News articles reported slightly different intraday prices that day, so I’ve used the price table as the reference. I’ve left out net purchases by foreign investors and institutions because those figures weren’t included in this data.

🎯 Goguma’s take on the remaining variables

Here’s how I’d sum up the views of the four contributors. They didn’t all reach a consensus, though, so I’ll leave their differences of opinion intact. Bullish and bearish scenarios are both in play. The question is what happens when the earnings announcement, the conclusion of labor negotiations, and the subcontracting issue all come together. I’m curious whether the benefits will reach subcontractors, just as much as I’m curious about the earnings figures.

📰 Reference News (5)

1

Earnings at Three Shipbuilders

네이버뉴스 · 2026.10.26

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2

Hanwha Ocean alone still facing labor deal hurdles… Samsung Heavy reaches agreement early, HD Hyundai Heavy close to a deal

네이버뉴스 · 2026.10.26

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4

Samsung Heavy Industries and Cibori sign MOU to develop AR welding training simulator tailored to shipbuilding

네이버뉴스 · 2026.10.26

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5

Samsung Heavy Industries repeatedly sanctioned over subcontracting… subcontractor pleads over 13.8 billion in debt - Newsfield

뉴스필드 · 2026.10.25

📰 View original