DAPA, Hanwha Ocean, HD Hyundai Heavy sign MOU to cooperate in warship exports

Korea's Defense Acquisition Program Administration has signed an MOU with the country's two major shipbuilders to boost partnership on warship exports.

The trilateral deal outlines collaboration in securing overseas orders with Hanwha Ocean focusing on submarine projects and HD Heavy Industries on surface ships.

The two shipbuilders have been engaged in fierce competition for overseas warship projects.

This latest agreement comes amid growing interest in maritime security and South Korea's advances in the global defense market.