SOUTH Korean shipbuilder HD Hyundai Heavy Industries said it is looking to expand its involvement in Philippine naval modernization and commercial shipbuilding.
HD Hyundai Chairman Chung Ki-sun recently discussed the potential for taking additional Philippine ship orders during a meeting with Defense Secretary Gilberto Teodoro Jr. in Seoul, according to the company.
HD Hyundai reported that Chung and Teodoro reviewed the defense industry cooperation built between the two countries over the past decade. Among the matters discussed were increased collaboration in Philippine Navy modernization and the local shipbuilding industry.
HD Hyundai secured its first Philippine Navy frigate contract in 2016; the deal has since expanded to other naval vessel projects.
The company said it has secured orders for 12 vessels from the Philippines and delivered six of them.
The partnership eventually expanded into local shipbuilding with the establishment of Subic HD Hyundai Philippines last year.
HD Hyundai recently launched its first vessel built locally and plans to deliver it to its shipowner next year. The company said it would gradually strengthen its local production capabilities in the Philippines.
Teodoro welcomed HD Hyundai’s cooperation, describing it as strategically important to the modernization of the Philippine Navy and the revitalization of the Philippine shipbuilding industry.
