Contract Signed with Peruvian State-Owned Shipyard
Catalyst for Customized Overseas Submarine Exports
HD Hyundai Heavy Industries announced that on the 19th (local time), it signed a 'Next-Generation Submarine Joint Development Contract' with the Peruvian Navy and the state-owned SIMA shipyard in Lima, Peru.
On the 19th (local time), at the state-owned SIMA shipyard in Lima, Peru, President Jose Herri of Peru (center in the photo) and Park Yongyeol, Head of the Ship Business Division at HD Hyundai Heavy Industries (right in the photo), signed the 'Next-Generation Submarine Joint Development Contract.' HD Hyundai Heavy Industries
The signing ceremony was attended by Peruvian President Jose Jeri, Park Yongyeol, Head of the Ship Business Division at HD Hyundai Heavy Industries, Javier Bravo de Rueda Delgado, Commander of the Peruvian Navy, and Luis Richard Silva Lopez, President of SIMA shipyard.
This contract follows the letter of intent regarding joint development and joint construction of submarines, which was signed during the 2025 Asia-Pacific Economic Cooperation (APEC) summit held last month in Gyeongju. The contract focuses on submarine design and is scheduled to begin in January 2026, lasting for 11 months.
The Peruvian submarine project is regarded as a core initiative within the Peruvian government’s strategy to modernize its naval forces and strengthen its shipbuilding industry. Through this contract, HD Hyundai Heavy Industries has become a key partner in the Peruvian submarine project. Both parties have agreed to conduct research and development with the goal of creating a 'Peru-type next-generation submarine' that incorporates Peru’s operational requirements into HD Hyundai Heavy Industries’ advanced submarine technology.
The operational environment of the Peruvian Navy differs from the waters around the Korean Peninsula, as it includes vast Pacific coastlines and complex seabed terrain with depths exceeding 3,000 meters. HD Hyundai Heavy Industries plans to reflect these operational factors in a design tailored specifically for Peru, applying the latest equipment packages, armaments, and communication systems.
HD Hyundai Heavy Industries expects that the Peruvian submarine project will serve as a catalyst for expanding future exports of Korean submarines. In particular, this project goes beyond a simple purchase model, representing an advanced approach in which a customized submarine is developed and built to meet the client’s specific requirements.
It is also noted that the signing of the joint submarine development contract with Peru was greatly facilitated by government-level cooperation and support, including the Ministry of National Defense and the Navy’s review of providing decommissioned vessels, as well as assistance from the Defense Acquisition Program Administration and the Embassy of the Republic of Korea in Peru.
Joo Wonho, President of HD Hyundai Heavy Industries (Head of the Ship and Medium Vessel Business Division), stated, "This contract marks a new milestone for Korean submarine exports," adding, "We will develop the optimal submarine that reflects the operational environment and needs of the Peruvian Navy, utilizing all the technological capabilities and expertise possessed by HD Hyundai Heavy Industries."
Previously, in April last year, HD Hyundai Heavy Industries signed a contract with Peru to build four surface vessels of three different types, establishing a defense industry partnership with the country.
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