HD HHI press release
HHI is showcasing its naval model ships, including the Multi-purpose Frigate, the Diesel-electric Submarine, and the multi-purpose training ship which has proven records operated by ROK Navy.
HHI has a plan to contribute to the Kingdom’s Vision 2030 strategy by collaborating with Saudi government agencies and local industries. HHI is willing to be a partner in projects such as Royal Saudi Navy’s strategic asset acquisition and local naval shipyard construction. High-level government delegations, including Defense Minister Shin Won-sik and Defense Acquisition Program Administrator Um Dong-hwan, attended the exhibition and showed their willingness to support exports of their defense companies.
Saudi Arabia is pursuing a VISION2030 strategy to focus on fostering its manufacturing industry to reduce its dependence on the oil industry under the leadership of Royal Crown Prince Muhammad bin Salman. HD Hyundai Heavy Industries plans to establish a business partnership with local industry and actively support the construction of Saudi naval ships and a dedicated naval shipyard in Saudi Arabia.
HD Hyundai Heavy Industries is building the IMI shipyard in KSA in collaboration with Aramco and Saudi Arabia’s shipping company Bahri in order to establish a strategic cooperative relationship in shipbuilding, engine and offshore plants in the Middle East, and is set to start full-scale operation in the second half of this year. HD Hyundai will be the first Korean shipbuilder to receive a technical license fee for the design produced there, and plans to implement a localization strategy based on its joint experience.
