HD Hyundai Heavy Industries (HHI) is expanding its shipbuilding and maritime‑defense cooperation beyond Southeast Asia, India, and the Middle East into Europe. HHI has now opened its first gateway to a traditional maritime nation, Greece, by signing MOU with the Greek shipyard Skaramangas.
HD HHI press release
On the 2nd (local time), HHI and Skaramangas Shipyard signed a comprehensive Memorandum of Understanding (MoU) to cooperate in Greek Navy and Coast Guard vessel projects, as well as unmanned surface vehicle (USV) and combined manned‑unmanned system projects.
The MoU signing ceremony was attended by HHI’s Global Defense sales Director, Mr. Kim Jae‑Rak, Senior Vice President, and Skaramangas CEO Mr. Varvitsiotis, who both affixed their signatures to the MOU outlining the two companies’ broad cooperation framework. The MOU signing ceremony was attended by H.E the Korean Ambassador to Greece and Mr. Gikas, Deputy Minister of Maritime Affairs, adding further significance to the occasion.
Skaramangas Shipyard, located west of the Piraeus port near Athens, is Greece’s largest shipyard. It is well known for its defense‑shipbuilding capabilities, having previously collaborated with Germany’s ThyssenKrupp Marine Systems (TKMS) to construct the Greek Navy’s Type 214 submarines and MEKO‑class surface frigates.
HHI is already building commercial vessels and warships at partner yards in the Philippines and Peru, and concrete cooperation plans are underway with shipyards in India and Saudi Arabia. The partnership with Skaramangas is expected to serve as a foothold for further expansion into the European market.
Through this MoU, HHI and Skaramangas Shipyard will pursue comprehensive cooperation in Greek Navy and Coast Guard vessel construction, MRO (maintenance, repair, and overhaul) services, and future acquisition projects. The collaboration is also anticipated to help expand Skaramangas’s production capacity.
The Greek government has recently formalized a requirement that domestic shipyards participate in vessel construction. It is currently implementing a large‑scale naval modernization program—named “Agenda 2030”—which includes high‑performance frigates, next‑generation submarines, Type 214 submarine MLU (mid‑life upgrade), MEKO‑class surface ship upgrades, new patrol vessels, and next‑generation corvettes.
The President of Naval & Medium‑Size Vessel Business unit of HHI, Mr. Joo Won‑ho, said, “Our meeting with Greece marks a partnership that has lasted over half a century, extending cooperation from shipbuilding and shipping into the maritime‑defense sector. Leveraging HHI’s world‑leading technology and extensive experience in naval projects, we look forward to contributing together with Skaramangas to the development of Greece’s shipbuilding and maritime‑defense capabilities.”
Skaramangas President Varvitsiotis added, “Skaramangas has a long tradition of building and repairing military vessels, exemplified by the Type 214 submarines and MEKO‑class surface ships. We are delighted to cooperate with HHI, a long‑standing partner of Greece, and are confident that this collaboration will elevate both of our maritime‑defense capabilities within Europe.” Historically, Greece began its relationship with HHI in the early 1970s when a fledgling Korean shipbuilder, then without a shipyard or construction record, received an order for a commercial vessel from a Greek shipowner. Since then, Greece has remained one of HHI’s most important clients, maintaining a trusted partnership: “Greek shipping helped grow Korean shipbuilding, and Korean shipbuilding boosted Greek shipping’s competitiveness.”
