HD Hyundai Chairman Chung Ki-sun met with Gilberto Teodoro Jr., secretary of national defense of the Philippines, in Seoul on Monday to explore ways to deepen their strategic partnership across shipbuilding and naval defense.
During the meeting, the two leaders reviewed a decade of defense ties and agreed to broaden cooperation aimed at modernizing the Philippine Navy and boosting the competitiveness of the local shipbuilding industry.
Their defense ties dates back to 2016, when HD Hyundai Heavy Industries signed an agreement to build two 2,600-ton frigates for the Philippine Navy for the first time. Since then, the two parties have continued collaboration in naval vessel construction and follow-on support programs.
A key topic of discussion was the launch of HD Hyundai Philippines in Subic last year, which both sides highlighted as a major turning point in their bilateral ties. After taking over the former Hanjin Heavy Industries shipyard in Subic Bay to resume commercial shipbuilding and naval defense projects, HD Hyundai recently launched the first vessel built at the facility, with delivery scheduled for next year.
Moving forward, the shipbuilder plans to gradually scale up its local production capacity in line with local operational conditions.
“With consistent support and cooperation of the Philippine government and Navy, we have been able to advance the Navy’s capabilities while carrying out a stable business in the country,” stated Chung.
He added, “Building on this foundation of mutual trust and successful track record, we look forward to exploring long-term collaboration across even broader sectors beyond commercial and naval shipbuilding.”
Having secured 12 vessels, HD Hyundai Heavy Industries has built trust with the Philippine Navy by delivering ships ahead of contract deadlines. The company has cemented this alliance by establishing a local logistics support center in 2022 to provide comprehensive maintenance, repair and overhaul services.
hyejin2@heraldcorp.com
