South Korean shipyard giant Hyundai Heavy Industries has vowed to pour resources into research and development over the next five years as the group began life as four separate entities.

Hyundai will spent $3.1 billion to 2021 on R&D, with an aim of between 6% and 7% of revenues to be spent per year on research.

One of the four business units, created after a restructuring and split announced on November and which came into effect on Monday, retains the name Hyundai Heavy Industries. This unit will spent $1.8 billion on enhancing its offshore engineering capabilities, developing eco-friendly ships and establishing what it called a “smart shipyard”.

Hyundai Electric & Energy Systems will spend $640 million on technological innovation, with Hyundai Construction Equipment and Hyundai Robotics spending $620 million and $90 million, respectively, on the same purpose.

The number of researchers across the four units is also to swell from 4000 to 10,000, Hyundai said. Each unit will employ a chief technological officer.