HD Hyundai Chairman Jung Kisun Meets Philippine Defense Secretary to Discuss Expanding Shipbuilding and Defense Cooperation
Utilizing HD Hyundai Philippines in Subic Bay
Consensus Reached on Supporting the Modernization of the Philippine Navy
Exploring Industry Expansion Based on Local Production Hub
HD Hyundai is expanding its cooperation with the Philippine government for naval modernization and the advancement of the local shipbuilding and defense industries.
Jung Ki-sun, Chairman of HD Hyundai (right), and Gilbert Teodoro Jr., Philippine Secretary of National Defense, are taking a commemorative photo together. HD Hyundai
View original imageOn September 7, HD Hyundai announced that Chairman Jung Ki-sun met with Gilberto Teodoro Jr., Philippine Secretary of National Defense, in Seoul to discuss measures to broaden collaboration in shipbuilding and defense. Both parties assessed the achievements of their defense industry cooperation over the past decade and agreed on the need to expand the scope of collaboration based on these accomplishments to support the modernization of the Philippine Navy and enhance the competitiveness of the local shipbuilding industry.
The partnership between HD Hyundai and the Philippines in naval vessel projects began in earnest in 2016, with the contract for the Philippine Navy's first guided-missile frigate. Since then, their cooperation has steadily expanded to include new shipbuilding projects and follow-up initiatives. HD Hyundai has also been operating HD Hyundai Philippines in Subic since last year and recently launched its first vessel successfully. The company plans to gradually strengthen its production capabilities in line with local operational requirements going forward.
HD Hyundai has received orders for 12 naval vessels from the Philippines and has delivered six ships so far. Leveraging its accumulated expertise, the company intends to continue cooperation in follow-up projects, including additional frigates.
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Jung Ki-sun, Chairman of HD Hyundai, stated, "Thanks to the consistent policies and cooperation of the Philippine government and navy, we have been able to significantly contribute to enhancing the Philippine Navy's capabilities and carry out our projects in a stable manner. Based on the success and expansion of our business over the past ten years, which was built on mutual trust, we will continue to seek long-term opportunities for industrial collaboration in a broader range of sectors, extending beyond commercial and naval shipbuilding."
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