HD Hyundai Heavy, Using the Philippines as a Base to Target the Southeast Asian Shipbuilding Market

HD Hyundai Heavy Industries is strengthening its approach to the Southeast Asian naval vessel market by establishing a base in the Philippines.

On the 6th (local time), HD Hyundai Heavy Industries held an opening ceremony for its special ship engineering office in Bonifacio City, Manila, and announced on the 7th that it is expanding its defense industry competitiveness. The event was attended by about 30 officials from both sides, including Joo Won-ho, head of HD Hyundai Heavy Industries' Special Ship Division, Hoselito Ramos, Deputy Undersecretary for Defense Acquisition of the Philippine Department of National Defense, Caesar Valencia, Deputy Commander of the Philippine Navy, and Joseph Komi, Commander of the Philippine Coast Guard Maritime Safety Command.

HD Hyundai Heavy Industries held an opening ceremony for its Special Ship Engineering Office on the 6th (local time) in Manila, Philippines. Hoselito Ramos, Deputy Assistant Secretary for Defense Acquisition at the Philippine Department of National Defense (left in the photo), Joo Won-ho, Head of the Special Ship Division at HD Hyundai Heavy Industries, Caesar Valencia, Deputy Commander of the Philippine Navy, and Lee Sang-bong, Executive Director of the Special Ship Division at HD Hyundai Heavy Industries (Photo by HD Hyundai Heavy Industries)

HD Hyundai Heavy Industries explained that it established the overseas office to respond more swiftly to the increasing defense demand amid rapidly changing international circumstances. The Philippines, located at the gateway connecting the Pacific and Asia, is considered a market with great potential due to its strong needs and commitment to naval power enhancement.

HD Hyundai Heavy Industries plans to dispatch design engineers from the Special Ship Division, as well as maintenance, repair, and overhaul (MRO) and sales staff to the office, providing technology specifications optimized for local demand and technical support and warranty repair consulting for delivered vessels.

Furthermore, the company intends to expand its export market not only in the Philippines but also to other Southeast Asian countries. According to Janes, a British military intelligence company, maritime defense spending in Southeast Asian countries is expected to increase from $8 billion in 2023 to $10 billion by 2030.

HD Hyundai Heavy Industries plans to strengthen its defense network with key Southeast Asian countries such as the Philippines, Thailand, and Vietnam, expanding its sales competitiveness by understanding regional situations and discovering potential demand, laying the foundation to achieve sales of 2 trillion won by 2030.

Joo Won-ho, the head of the division, stated, "Starting with Southeast Asia, this will become a key base to target the global special ship market," adding, "Based on HD Hyundai Heavy Industries' advanced naval vessel technology, we will elevate the status of K-defense and pursue a win-win relationship with Southeast Asian countries."

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