HD Hyundai Chairman Kisun Chung Meets Philippine Defense Secretary to Discuss
HD Hyundai Chairman Kisun Chung recently met with Philippine Defense Secretary Gilberto C. Teodoro Jr. in Seoul to discuss plans for cooperation in modernizing the Philippine Navy (PN) and enhancing the local shipbuilding and defense industries.
Strengthening Defense Cooperation
During their meeting, held on the 7th of September, both parties assessed the progress made in defense cooperation between HD Hyundai and the Philippines over the past decade. They agreed on the importance of expanding collaboration to include the modernization of the PN and efforts to boost the competitiveness of the local shipbuilding industry.
Significant Milestones and Future Plans
Notably, cooperation between HD Hyundai and the Philippines on naval vessel projects began to gain traction in 2016 when HD Hyundai secured a contract for the Philippine Navy’s first frigate. Subsequently, the partnership has evolved through the construction of new naval vessels and other related projects.
The launch of HD Hyundai Philippines in Subic last year marked a significant milestone in industrial cooperation between the two parties. Following the successful launch of the first vessel built in Subic, plans are underway to deliver it to the shipowner next year. Additionally, HD Hyundai intends to enhance its production capacity in alignment with local operational requirements.
Strategic Collaboration for Mutual Benefits
Secretary Teodoro underscored the strategic significance of collaborating with HD Hyundai to modernize the PN and revitalize the Philippines’ shipbuilding industry. He commended HD Hyundai’s efforts to expand its business presence in the Philippines and expressed a commitment to exploring mutually beneficial cooperation measures for both sides.
Chairman Chung expressed appreciation for the consistent support and cooperation extended by the Philippine government and the PN, enabling significant advancements in the capabilities of the Philippine Navy. He emphasized a long-term vision for industrial cooperation beyond the construction of merchant and naval vessels.
Future Prospects
To date, HD Hyundai has secured orders for 12 naval vessels from the Philippines, with six already delivered. Leveraging its expertise and project capabilities, the company aims to continue cooperation on follow-up frigate projects and other initiatives in the future.
In conclusion, the meeting between HD Hyundai Chairman Kisun Chung and Philippine Defense Secretary Gilberto C. Teodoro Jr. underscores the commitment to enhancing defense cooperation and promoting industrial growth between the two nations.
