[Public Notice+] Ewha Electric Signs 5.1 Billion KRW Contract to Supply Electronic Components for Next-Generation Aegis Ship

[Asia Economy Reporter Yoo Hyun-seok] Ewha Electric announced on the 12th that it has signed an individual material transaction contract with Hyundai Heavy Industries to supply frequency converters for the Gwanggaeto-III Batch-II system development project. The contract amount is approximately 5.1 billion KRW, which is about 12.13% of the recent sales revenue. The contract period is from October 20, next year, to September 30, 2024.

The Gwanggaeto-III Batch-II is one of the next-generation Aegis ships introduced by the government, constructed by Hyundai Heavy Industries, and built at the Ulsan Shipyard, scheduled for delivery in November 2024. The government plans to significantly enhance ballistic missile defense capabilities and anti-submarine warfare operations compared to currently operated Aegis ships such as the Sejong the Great-class. To this end, it plans to equip the ship with SM-3 class vertical launch systems capable of intercepting high-altitude ballistic missiles.

This year, the defense budget allocated 16.6804 trillion KRW to defense capability improvement projects, including the Gwanggaeto-III Batch-II project, an 8.5% increase from last year, ensuring smooth progress of the project.

According to this contract, Ewha Electric will supply frequency converters and accessories for the project and will also be responsible for comprehensive logistics support, including technical support and technical manuals related to the project.

Ewha Electric is a leading power conversion equipment company that has been at the forefront of domestic production of frequency converters mainly applied in the defense sector. In addition to Aegis ships, the company has successfully localized frequency converters for naval combat vessels, M-SAM, and Patriot missiles, contributing to the enhancement of military combat power.

An Ewha Electric official stated, “We are pleased that our technology can contribute to the Navy’s next-generation weapon system development to effectively respond to various security threats,” and added, “We will continue to expand the localization rate in the defense sector through ongoing technological development.”

This content was produced with the assistance of AI translation services.