Bogoin Industries Establishes Joint Venture with LCS Group... Visits Philippine President

(From left) Roh Hyun-soo, Chairman of Bogo Industries, Rico, President of LCS Group, Sabit Singh, Chairman of LCS Group, and Marcos Junior, President of the Philippines, are posing for a commemorative photo.

[Asia Economy Reporter Kim Bo-kyung] Korean special shipbuilding company Bogo Industries (Chairman Noh Hyun-soo, hereinafter Bogo) announced on the 22nd that it will establish a joint venture locally with the Philippine LCS Group related to the aerospace defense business.

Chairman Noh Hyun-soo of Bogo visited Philippine President Ferdinand Marcos Jr. on the 15th and finalized the project to establish a joint venture locally in the Philippines together with the LCS Group.

Philippine President Marcos Jr. stated, "We will spare no support to maintain a successful relationship in the joint business between LCS Group and Bogo Industries."

The joint venture aims to build a cooperative relationship necessary for the advanced Philippine defense industry, including the S-3B Viking anti-submarine warfare aircraft soon to be introduced by the U.S. Navy, operation and maintenance of the Philippine Air Force's FA-50PH, establishment of aviation maintenance curricula, and flight tactical training, thereby creating mutual benefits.

Since 2018, Bogo has produced and delivered over 330 special military vessels domestically and internationally, including securing orders for 10 high-speed naval boats from Southeast Asian countries such as the Philippines pursuing military modernization projects.

In June, LCS Group also signed a memorandum of understanding to invest 10 million dollars in Bogo for the development and export of wing-in-ground effect vehicles and Philippine Navy high-speed boats.

Savitsingsong, Chairman of LCS Group, said, "In the future, we plan to jointly develop key technologies necessary for the operation of not only high-speed boats but also important anti-submarine aircraft and fighter jets in Philippine defense."

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