Babcock has signed two separate agreements with South Korean companies this week – Hanwha Ocean and Korea Aerospace Industries Ltd. – to support the growth of global opportunities, according to the company's release.
A Strategic Cooperation Agreement has been penned with Hanwha Ocean, the shipbuilding and offshore company, to further develop opportunities in the global naval market. This agreement outlines a joint aim to deepen cooperation in major global naval procurement projects, including the Polish Orka submarine programme and the Canadian Patrol Submarine Projec.
The agreement builds on Babcock and Hanwha Ocean’s existing relationship which dates back to June 2023, when Babcock Canada signed a Technical Cooperation Agreement to support Canada’s submarine sustainment programmes and cooperate on the Canadian Patrol Submarine Project.
In February this year, the two companies also entered a Teaming Agreement to collaborate on global submarine programmes.