Hanwha Systems, HJ S&C to enter overseas naval vessel market

South Korea's Hanwha Systems Co. said on Tuesday that it signed a memorandum of understanding (MOU) with HJ Shipbuilding & Construction Co. to expand the naval vessel markets of the Middle East and Southeast Asia.

Under the MOU, the two companies agreed to leverage their respective expertise and resources to collaborate on developing vessels for export.

HJ Shipbuilding will construct hulls for various vessels, including small warships currently operated by the Navy and small to large patrol ships for the Coast Guard.

Hanwha Systems will equip these vessels with essential systems, supplying combat management systems (CMS) as well as various sensors and weaponry, as they prepare for global market entry.

The partnership aims to co-develop core technologies, enhance product performance, and increase cost competitiveness by sharing resources.

Write to Hyung-Kyu Kim at khk@hankyung.com