Hanwha Ocean, HD Hyundai Heavy to face off ... > 경제기사 | economics

Hanwha Ocean Co. led by Hanwha Group Vice Chairman Kim Dong-kwan and HD Hyundai Heavy Industries Co. led by HD Hyundai Chief Executive Officer Chung Ki-sun will compete for the first time for a bid on Ulsan-class Batch-Ⅲ frigates.

South Korea’s Defense Acquisition Program Administration DAPA will open bids for Ulsan-class frigates No. 5 and 6 on June 30, according to sources on Tuesday. It plans to select a winner by next month. The 830 billion won $638 million project involves Hanwha Ocean, formerly known as Daewoo Shipbuilding amp; Marine Engineering Co. DSME, HD Hyundai Heavy Industries, and HJ Heavy Industries Co. This is Hanwha Group’s first warship order since acquiring DSME and rebranding it to Hanwha Ocean.

Hanwha Ocean and HD Hyundai Heavy Industries are making a concerted effort to win this order, as its success will determine their future performance in the specialty ship segment, including the Batch-Ⅳ and KDDX projects. Kim gave Hanwha Ocean a boost at the International Maritime Defense Industry Exhibition MADEX 2023 held in Busan on June 7. “Hanwha Ocean not only has the world’s best technology in submarines, but also has a track record of delivering innovation in surface vessels,” Kim said at the exhibition.

Hanwha Ocean won the frigates No. 1, 2, 5 and 6 in the Batch-II project under the name of DSME. Especially with the acquisition of DSME into Hanwha Group, synergies with its defense affiliates are expected.

For example, the complex sensor mast and combat system developed by Hanwha Systems can be installed on the new frigates.

In response, HD Hyundai Heavy Industries expressed confidence that it has no competitors in the surface vessel sector. The company aims to further solidify its position as the No. 1 shipbuilder by winning the Ulsan-class No. 5 and 6 ships.

“HD Hyundai Heavy Industries has the capability and technology to compete in the surface vessel segment anywhere in the world,” Han Young-seuk, vice chairman of HD Hyundai Heavy Industries, told reporters at MADEX.

HD Hyundai Heavy Industries is touting its successful design and construction of the first Ulsan-class frigate. The ship is equipped with a four-face multi-function phased array radar capable of 360-degree detection, tracking, and response, enhancing its anti-aircraft defense capabilities.

In the Batch-2 project, HD Hyundai Heavy Industries and Hanwha Ocean won bids for four ships each, but HD Hyundai has an ambition to overtake Hanwha Ocean this time. “We have the most surface vessels built in Korea and the most military ships exported,” said a company official, “and we also won all three of the Navy’s next-generation Aegis ships.”

The local defense and shipbuilding industry believes that the success of the Ulsan-class No. 5 and 6 ship order will have an impact on the KDDX destroyer project for the Navy. The DAPA is planning to bid for the detailed design and construction of the KDDX ship next year. Hanwha Ocean and HD Hyundai Heavy Industries have been at odds over the selection of the KDDX basic design contractor.

Hanwha Ocean has requested the Board of Audit and Inspection to investigate the alleged illegality of the selection process. Hanwha Ocean claims that HD Hyundai Heavy Industries employees secretly photographed its conceptual designs. In response, HD Hyundai Heavy Industries argues that Hanwha Ocean’s claims have already been rejected by the court and the DAPA.

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