HD Hyundai Heavy, US Philly Shipyard Collaborate on Warship and Government Vessel Business

Accelerating Efforts to Capture the US Defense Market

HD Hyundai Heavy Industries is accelerating its efforts to target the world's largest U.S. defense market.

HD Hyundai Heavy Industries recently announced on the 24th that it signed a Memorandum of Understanding (MOU) in the U.S. with Philadelphia Shipyard in Pennsylvania and the U.S. government for new construction and maintenance, repair, and overhaul (MRO) projects for naval and government vessels. The signing ceremony was attended by Ju Won-ho, Head of HD Hyundai Heavy Industries' Special Ship Business, Steiner Nervovic, CEO of Philadelphia Shipyard, and other representatives from both companies.

Joo Won-ho, Head of Special Ship Business at HD Hyundai Heavy Industries (right), recently signed a Memorandum of Understanding (MOU) on new construction and maintenance, repair, and overhaul (MRO) projects for government-ordered warships and public vessels with Steiner Nervovic, CEO of Philly Shipyard, located in Pennsylvania, USA. (Provided by HD Hyundai Heavy Industries)

Philadelphia Shipyard is a subsidiary of the Norwegian marine, offshore wind, and energy specialist Aker Group, established in 1997 on the site of the U.S. Navy's Philadelphia Naval Shipyard. Since 2003, it has built more than 50% of large U.S. commercial vessels subject to the Jones Act, with core business areas including construction and maintenance of government-operated vessels, including military ships.

Under the agreement, HD Hyundai Heavy Industries will support Philadelphia Shipyard with naval and government vessel design and material package supply. Since 2005, HD Hyundai has maintained a cooperative relationship supplying drawings and materials to Philadelphia Shipyard in the commercial ship sector, and this agreement will expand cooperation to include U.S. Navy, Coast Guard, and Federal Maritime Administration naval and government vessels.

After the signing ceremony, attendees toured Philadelphia Shipyard's shipbuilding facilities and shared technical expertise on naval shipbuilding and MRO projects.

HD Hyundai recently formed strategic partnerships with U.S. defense companies such as GE Aerospace and L3Harris for naval propulsion system development, U.S. naval ship MRO, and securing naval projects in Australia and Canada. It also plans to jointly develop unmanned surface vessels with Palantir Technologies, aiming to become a future game-changer in naval warfare.

Ju Won-ho said, "Through cooperation with local U.S. companies in naval and government vessel construction and MRO projects, we expect to further strengthen HD Hyundai Heavy Industries' influence in the global defense market."