Hyundai Heavy Industry (HHI) is a world-class Korean company, which significantly relied on the shipbuilding industry that was suffering from a worldwide recession followed by the European debt crisis. HHI found that it cannot continue to depend only on the shipbuilding industry. In this case study, we analyze the crisis affecting HHI from various perspectives and propose solutions. We conduct interviews with HHI employees and analyze the company’s financial and sales data. Finally, we discuss how to address the issue of HHI’s high dependency on the shipbuilding industry by suggesting a diversification from its current business segments