[THE INVESTOR] Daewoo Shipbuilding and Marine Engineering and the Defense Acquisition Program Administration on July 19 signed a contract for exploratory development stage of South Korea’s new submarine development.

Under the 70.5 billion won (US$61.99 million) contract, DSME will draw up the basic requirements for the 3,000-ton submarine until the end of 2018. DSME’s tasks include calculating the specifications for the submarine, and determining the materials. 


The project is part of a larger program for designing and building an advanced military submarine. It will be the first time a military submarine is being designed and built with indigenous technology. 

By Choi He-suk (cheesuk@heraldcorp.com)