HD Hyundai Heavy Industries Obtains Qualification to Participate in US Naval Vessel MRO Business

First MSRA Agreement with US Military Authorities in Korea
"Expecting Expansion through New US Naval Vessel Projects"

HD Hyundai Heavy Industries has fired the starting shot to fully enter the U.S. ship maintenance, repair, and overhaul (MRO) market.

On the 11th, HD Hyundai Heavy Industries announced that it has signed the Ship Maintenance Repair Agreement (MSRA) with the U.S. Navy Supply Systems Command, becoming the first Korean company to do so. The MSRA is an agreement between the U.S. government and private shipyards for the MRO of U.S. naval vessels, and signing the MSRA is a prerequisite for participating in MRO projects for ships operated by the U.S.

Through this agreement, HD Hyundai Heavy Industries has secured the qualification to bid on MRO projects not only for support ships under the U.S. Military Sealift Command but also for combat ships operated by the U.S. Navy over the next five years.

Sea trial of the first ship of the next-generation Aegis destroyer (KDX-III Batch-II), "Jeongjo Daewang," built by HD Hyundai Heavy Industries and scheduled to be delivered to the Navy by the end of this year.
[Photo by HD Hyundai Heavy Industries]

HD Hyundai Heavy Industries expects to continuously build trust with U.S. military authorities through the successful execution of U.S. Navy ship MRO, and to expand its scope to new construction projects such as naval vessels, special-purpose ships, and government vessels commissioned by the U.S. government in the future.

Meanwhile, in February, HD Hyundai Heavy Industries explained the status and technological capabilities of its ship projects and discussed ways to strengthen cooperation with U.S. Secretary of the Navy Carlos Del Toro, who visited its headquarters in Ulsan. In 2022, the company established a logistics support center in the Philippines, becoming the first domestic shipbuilding company to enter the overseas MRO business.

Joo Won-ho, Head of the Special Ship Business at HD Hyundai Heavy Industries, said, "Based on our unparalleled technology, having built a total of 18 export ships overseas, and the know-how accumulated from MRO business in the Philippines, we will smoothly enter the U.S. ship MRO market and further broaden the horizon for K-ship exports."