Hyundai Heavy Industries Launches Full-Scale Effort to Expand Overseas Warship Exports with Domestic Defense Companies

The frigate 'Jose Rizal' delivered by Hyundai Heavy Industries to the Philippine Navy in 2020. Photo by Hyundai Heavy Industries

[Asia Economy Reporter Donghoon Jeong] Hyundai Heavy Industries is strengthening cooperation with domestic defense industry companies and mid-sized shipbuilders to expand overseas warship exports.

On the 16th, Hyundai Heavy Industries signed a 'Business Agreement to Strengthen Cooperation in Warship Export and MRO (Maintenance, Repair, Overhaul) Business' with six companies and institutions, including STX Engine, LIG Nex1, Hanwha Systems, Korean Register, and mid-sized shipyards Gangnam and Orient Shipyard, at the Hyundai Heavy Industries Talent Development Center.

This agreement was promoted to jointly design warships optimized for the demands of navies in various countries overseas with leading companies in propulsion systems, armament equipment, and combat systems?key areas in warship construction?and to establish a cooperative system with mid-sized shipyards.

Additionally, Hyundai Heavy Industries plans to enhance business competitiveness through establishing standards and safety inspections for export warships in collaboration with the Korean Register. Hyundai Heavy Industries will actively engage not only in warship exports but also in overseas MRO businesses involving maintenance, upkeep, and repair of warships with these companies.

Nam Sang-hoon, Vice President and Head of the Special Ship Business Division at Hyundai Heavy Industries, said, "Taking this agreement as an opportunity, we will actively promote overseas warship exports and strive to continue the achievements of K-defense, following recent overseas exports of domestic defense products such as the Cheongung-II surface-to-air missile and the K-9 self-propelled howitzer, in the warship sector as well."

Meanwhile, Hyundai Heavy Industries participated in 'WDS 2022,' Saudi Arabia's first international defense industry exhibition held in Riyadh from the 6th to the 9th of this month, showcasing 10 types of warships including frigates and missile fast attack crafts, and actively conducted business activities such as signing a business agreement with Saudi IMI Shipyard for local warship business entry.

Furthermore, Hyundai Heavy Industries is accelerating the expansion of its overseas warship business by planning to sign a follow-up MRO business contract in the first half of the year for two latest frigates delivered to the Philippine Navy in 2020 and 2021, and to provide full-scale services starting in the second half of this year.