HD Hyundai chairman discusses expanded shipbuilding and defense cooperation with Philippine defense minister

HD Hyundai is seeking to widen its cooperation with the Philippine government beyond naval projects, bringing local shipbuilding and defense industry development into the discussion.

Chairman Chung Ki-sun met Philippine Defense Secretary Gilbert Teodoro Jr. in Seoul on the 7th to discuss ways to build on a decade of defense cooperation. The two sides considered expanding their work to Philippine naval modernization and strengthening the competitiveness of the country’s shipbuilding industry.

Their cooperation on naval vessels gained momentum in 2016, when the Philippine navy signed its first frigate contract. Since then, the partnership has grown through new vessel construction and follow-up projects.

The meeting also covered how to use HD Hyundai Philippines’ production base in Subic Bay. HD Hyundai began operating the facility last year and recently launched its first vessel built locally. The company plans to deliver that vessel to its owner next year and gradually expand production capacity in line with local operating conditions. Its future cooperation is expected to include commercial shipbuilding as well as Philippine naval modernization.