Hyundai Mipo Dockyard Co., a mid-sized South Korean shipbuilder, said Thursday that it has secured a 163 billion-won (US$138 million) order to build two car carrier ships.

Hyundai Mipo Dockyard wins US$138Mln order for 2 car carrier ships

Under the deal with a European shipper, Hyundai Mipo will build the vessels by March 2022, the company said in a regulatory filing.

Hyundai Mipo posted sales of 705 billion won in the first quarter of the year, with its operating profit reaching 26.1 billion won. It secured $434 million worth of orders for 11 vessels in the first quarter.

Hyundai Mipo is an affiliate of Hyundai Heavy Industries Co., the country's top shipbuilder.

Source: Yonhap