Hanwha Ocean contracted to build two new Navy frigates
South Korean shipbuilder Hanwha Ocean Co. said Friday it has signed a 790 billion-won (US$600 million) deal with the state defense procurement agency to build two next-generation frigates for the country's Navy, Yonhap reported.
In July, the Defense Acquisition Program Administration (DAPA) selected Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering Co., as the preferred bidder for the military ships.
Back then, Hanwha Ocean beat its bigger domestic rival, HD Hyundai Heavy Industries Co., in the auction for the Navy's fifth and sixth Ulsan-class frigates with enhanced anti-submarine and anti-air capabilities.
It was the first time for Hanwha Ocean to beat HD Hyundai Heavy in bids for military ships since its recent acquisition by defense-to-energy conglomerate Hanwha Group.
The fifth and sixth frigates will be delivered to the Navy in December 2027 and June 2028, respectively, the company said in a statement.
The warships will be built as part of Seoul's frigate acquisition program, code-named FFX Batch-III, under which the country plans to build six 3,600-ton frigates to replace aging frigates and corvettes.
