HD Hyundai Enters Joint Submarine Development Project With Peruvian Navy (Yonhap)
SEOUL, Dec. 22 (Korea Bizwire) — HD Hyundai Heavy Industries is moving closer to its first overseas submarine export, signing a joint development agreement with Peru as Seoul seeks to expand the global reach of its defense manufacturing sector.
The company said on December 21 that it had concluded a contract with the Peruvian Navy and the state-run shipbuilder SIMA at SIMA’s shipyard in Lima to jointly develop a next-generation submarine tailored to Peru’s operational needs. The agreement follows a memorandum of intent signed earlier this year during the Asia-Pacific Economic Cooperation summit in Gyeongju.
Under the deal, HD Hyundai Heavy Industries will work with Peruvian partners to design and develop a “Peru-type” submarine that incorporates Korean submarine technologies alongside specifications reflecting Peru’s unique maritime environment. Unlike the waters around the Korean Peninsula, Peru’s naval operations extend into deep-sea areas exceeding 3,000 meters with complex seabed conditions.
Beginning in January next year, the Korean shipbuilder plans to finalize a Peru-specific design and apply advanced systems, including modern equipment packages, weapons and communications technologies. The project aligns with Peru’s broader push to modernize its navy and strengthen domestic shipbuilding capabilities.
HD Hyundai Heavy Industries said the initiative goes beyond a conventional procurement model, emphasizing a customized development approach that closely reflects the customer’s operational requirements. The company views the project as a potential springboard for expanding exports of Korean-built submarines.
Peruvian President José Herry, who attended the signing ceremony, described the agreement as a symbol of practical and strategic cooperation between Peru and South Korea, as well as a boost to Peru’s shipbuilding industry.
Joo Won-ho, president of HD Hyundai Heavy Industries, said the deal marks a turning point for Korea’s submarine exports and pledged to deploy the company’s full technological expertise to deliver an optimized vessel for the Peruvian Navy.
The agreement builds on earlier cooperation between the two countries. In April last year, HD Hyundai Heavy Industries signed a separate contract with Peru to build four surface vessels across three ship classes, further deepening defense and industrial ties.
M. H. Lee (mhlee@koreabizwire.com)
