This photo provided by Hanwha Ocean shows a company shipyard. (Image courtesy of Yonhap)
SEOUL, Nov. 22 (Korea Bizwire) — Hanwha Ocean Co. said Friday it has decided to withdraw its complaint filed with the police against shipbuilding rival HD Hyundai Heavy Industries Co., citing what it called a need to cooperate for national interests.
“We believe withdrawing the complaint is the right course of action to ensure the timely deployment of next-generation Aegis destroyers for maritime security and to expand South Korea’s defense exports,” Hanwha Ocean said, adding it has submitted a notice to the National Police Agency to withdraw its complaint against HD Hyundai.
Hanhwa Oceans had claimed top officials of HD Hyundai may have been involved in a military secrets leak scandal after several HD Hyundai employees were convicted in November 2023 of acquiring military secrets related to the Korea Destroyer Next Generation project and sharing them on their company server from 2012 to 2015.
Industry insiders noted that Hanwha Ocean’s decision to withdraw its complaint follows a recent meeting between Hanwha Group Vice Chairman Kim Dong-kwan and Chung Ki-sun, vice chairman of HD Hyundai, amid calls within the shipbuilding community to unite in the face of global market uncertainties.
Many others believe it may have also been prompted by the reelection of former U.S. President Donald Trump, who has expressed support for cooperation with the South Korean shipbuilders to deal with increasing challenges posed by China’s dominance in global shipbuilding orders.
(Yonhap)
