[Concall] Hanwha Ocean "US MRO Business May Materialize as Early as First Half of This Year"

On the 24th, Hanwha Ocean stated during its Q1 earnings conference call that regarding its U.S. MRO (Maintenance, Repair, and Overhaul) business, "It is understood that the U.S. Navy intends to carry out MRO operations by utilizing companies based in U.S. stationed regions and allied countries," adding, "In preparation for this, we are proactively reviewing and preparing the necessary procedures for when the MRO business progresses."

They continued, "The MRO targets will likely focus more on support ships rather than combat ships," and "We plan to actively engage in the MRO business."

Furthermore, they said, "Although the schedule may change, we expect the business to materialize as early as the first half of this year," and "Based on our extensive experience in domestic submarine overhaul and performance upgrades, Hanwha Ocean plans to expand the MRO business to all vessels it exports as well as those operated domestically and internationally."

Hanwha Ocean also stated, "Especially when securing new orders, we plan to offer an MRO package solution that proposes a full lifecycle management system for the vessel starting from the construction phase, thereby creating additional business opportunities."

Regarding the acquisition of overseas shipbuilders, they said, "As reported in the media, we have made an acquisition proposal to Australia’s Austal, and we are continuously reviewing and negotiating matters related to government approval," adding, "Due to the sensitivity of the negotiations, we ask for your understanding that we cannot provide detailed information."