HD Hyundai and Philippines discuss naval and shipbuilding cooperation

HD Hyundai Chairman Chung Ki-sun met with Philippine Defense Secretary Gilberto Teodoro Jr. in Seoul to discuss expanding cooperation in the shipbuilding and defense sectors. The meeting focused on enhancing the modernization of the Philippine Navy and strengthening the competitiveness of the local shipbuilding industry.

Building on a decade of defense cooperation that began with a frigate contract in 2016, the two parties agreed to expand their partnership. A key component of this collaboration is HD Hyundai Philippines, located in Subic Bay. The facility recently launched its first locally constructed vessel, a 115,000-ton petrochemical tanker, which is scheduled for delivery to its owner next year.

HD Hyundai has secured orders for a total of 12 vessels in the Philippines, having already delivered six. Moving forward, the company aims to explore long-term industrial opportunities beyond merchant ships and naval vessels to support the Philippine government's strategic maritime goals.