Hyundai Mipo Dockyard made a regulatory filing on May 2 that it had signed a contract to build three bulkers totalling KRW 110.7bn (around $99.9m) with European based shipowner.
The total amount of contract represents 2.5% of 2012's overall revenue.
The contract has been signed on April 30 and all three newbuilding bulkers are to be completed deliveries by March 31, 2016.
The deal is worth a total of approximately $99.9m in dollar and the newbuilding cost $33.3m apiece.