This photo provided by Korea Shipbuilding & Offshore Engineering Co. (KSOE) on Wednesday, shows a liquefied natural gas carrier built by Hyundai Samho Heavy Industries Co., a KSOE affiliate. (KSOE)

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Wednesday it has inked a 617.3 billion-won ($477 million) contract with an Oceanian shipping company to build two liquefied natural gas (LNG) carriers.

Under the deal, Hyundai Samho Heavy Industries Co., a KSOE affiliate, will construct the 174,000-cubic-meter vessels and deliver them to the undisclosed shipper by the first half of 2026.

KSOE has bagged orders to build 111 ships worth $13.54 billion so far this year, achieving 77.6 percent of its yearly order target of $17.44 billion.

KSOE, a subholding company of global shipping titan Hyundai Heavy Industries Holdings, has three shipbuilding affiliates -- Hyundai Heavy Industries Co., Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries. (Yonhap)