South Korean shipbuilding group HD Hyundai is moving to deepen its shipbuilding partnership with the Philippines after securing orders for 12 naval vessels and expanding into commercial construction at Subic Bay, according to a company statement.
HD Hyundai Chairman Chung Ki-sun met Philippine Defence Secretary Gilberto C. Teodoro Jr. in Seoul on 7 September to discuss broader shipbuilding cooperation, Philippine Navy modernisation and development of the country’s domestic shipbuilding industry.
HD Hyundai Heavy Industries’ naval relationship with the Philippines began with a frigate contract in 2016. The shipbuilder has since secured orders for 12 naval vessels, six of which have been delivered.
The total comprises two frigates contracted in 2016, two corvettes ordered in 2021, six offshore patrol vessels ordered in 2022 and two additional 3,200-ton frigates contracted in December 2025.
The latest pair is due for delivery by 2029 under the Philippine Navy’s Horizon 3 modernisation programme. The December 2025 contract was valued at $578m.
The relationship has also expanded into commercial shipbuilding at Subic Bay. HD Hyundai began construction of its first commercial vessel there in September 2025 and launched the 115,000-dwt product tanker Orion Jade in July 2026.
Orion Jade is the first of four vessels ordered by an Asia-based shipping company and is scheduled for delivery in 2027. HD Hyundai plans to increase production capacity at Subic gradually as the operation develops.
Teodoro said cooperation with HD Hyundai was strategically important for Philippine naval modernisation and the revival of the country’s shipbuilding industry. Chung said the group would seek long-term industrial cooperation extending beyond commercial and naval ship construction.
HD Hyundai Co is the holding company of South Korea’s HD Hyundai group. HD Hyundai Heavy Industries is a Ulsan-based shipbuilding company established in 1972, with businesses covering commercial vessels, naval ships, offshore and energy projects, and marine engines.