SEOUL, March 15 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co., the world’s fourth-biggest shipbuilder by orders, said Tuesday it has signed an initial pact with a British shipbuilder for warship technology development.
Daewoo Shipbuilding has signed a memorandum of understanding with Babcock International for a “strategic partnership” in developing technologies in aircraft carriers, the company said in a statement.
Babcock was involved in developing the U.K. aircraft carrier HMS Queen Elizabeth.
“Through the partnership with Babcock, (Daewoo Shipbuilding) will make utmost efforts to build warships for the South Korean Navy forces,” the statement said.
Daewoo Shipbuilding aims to win US$8.9 billion worth of orders this year on high-end ship deals. It has obtained $2.72 billion worth of orders so far this year, already achieving 31 percent of the annual target.