Hanwha Ocean (042660.KS) is solidifying its position as a frontrunner in driving the shared growth of the Korean and US shipbuilding industries, building a cooperative relationship with major partners in the US that encompasses warship design and development, shipbuilding workforce training, and shipbuilding supply chain development.
Hanwha Ocean said on the 24th that it attended the "Opening Ceremony of the Korea-US Shipbuilding Cooperation Center" held in Washington, D.C., on the 23rd, where it signed one contract and two memoranda of understanding (MOU) with major partners in the US.
First, Hanwha Ocean signed a "professional services contract" with the renowned warship design firm Leidos Gibbs & Cox for the joint design of a global strategic transport vessel. The contract is regarded as a concrete development of the "Memorandum of Understanding to Strengthen Warship Construction Capabilities for the US and Allied Navies" that the two companies signed in April this year.
Through this contract, the two companies will begin the joint design of the global strategic transport vessel. They will pursue joint technology development during the design process and operate a cooperative system to ensure design quality. Through this, they plan to combine Hanwha Ocean's warship construction capabilities with the warship design and engineering expertise of Leidos Gibbs & Cox, which has designed more than 70% of US Navy surface vessels since World War II, to present a highly reliable, proven platform to the US and other global markets.
The global strategic transport vessel is designed so that it can be operated for commercial purposes such as logistics transport in peacetime, and used as a strategic transport asset that rapidly transports military supplies in emergencies. As a dual-use platform that simultaneously provides strategic value at the national security level and economic efficiency, it is a solution that can meet the diverse demands of the warship market in the US and around the world.
Hanwha Ocean also signed an "MOU for shipbuilding technology education and development cooperation" with Hanwha Philly Shipyard and Delaware County Community College. It plans to respond to US shipbuilding workforce demand by cultivating skilled personnel, including developing instructor training programs to nurture shipbuilding technical personnel in the US.
Delaware County Community College, located in the eastern region of Pennsylvania in the US, is a two-year higher education institution that provides workforce development and technical education programs for the local community. It participates as an affiliated technical education institution in the apprenticeship program operated by Hanwha Philly Shipyard, providing job-related theoretical education to apprentice personnel.
In addition, Hanwha Ocean, together with Hanwha Philly Shipyard and two organizations including the Chamber of Commerce for Greater Philadelphia and the Philadelphia Growth Partnership, signed an "MOU for supply chain cooperation" related to the shipbuilding industry. The move is underpinned by an intent to raise Hanwha Philly Shipyard's production capabilities through developing a local shipbuilding supply chain and building a regional shipbuilding industry ecosystem.
Jung In-sub, president and head of Hanwha Ocean's management support division, said, "We are fully prepared to contribute to the rebuilding of the US shipbuilding industry and the development of Korea's shipbuilding industry." He added, "Centered on the local production base, we will expand cooperation in the areas the US needs most, and become the core driving force of the 'MASGA (Make American Shipbuilding Great Again) Project.'"
