According to DSME officials, a commemoration celebrating the delivery of a 1,400-ton submarine to the Ministry of Defence of the Republic of Indonesia was held at the Okpo shipyard in the presence of high-level officials including Indonesian Minister of Defense Ryamizard Ryacudu and DSME CEO Jung Sung-lip. (Image: DSME)
SEOUL, Aug. 2 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering (DSME) has become the first South Korean company to export a submarine, joining the likes of the U.K., France, Russia, and Germany.
According to DSME officials, a commemoration celebrating the delivery of a 1,400-ton submarine to the Ministry of Defence of the Republic of Indonesia was held at the Okpo shipyard in the presence of high-level officials including Indonesian Minister of Defense Ryamizard Ryacudu and DSME CEO Jung Sung-lip.
Dubbed ‘Nagapasa’, referring to an arrow used by a Hindu god, the vessel is South Korea’s very first submarine built for export, and was manufactured with South Korean technology that was built upon technology acquired from Germany in 1988.
DSME made headlines and set records when it landed a deal with the Indonesian Ministry of Defense, as the total value of the order for three submarines amounted to over 1 trillion won, the biggest deal in the history of the South Korean defense industry, the equivalent of exporting 73,000 vehicles.
Following the first submarine, DSME is currently building the second and third Indonesian subs, which are expected to be completed by the end of 2018.
When complete, the three submarines will be deployed in Indonesian naval operations involving maritime security and defense, and are expected to have a lifespan of at least 30 years.
Ashley Song (ashley@koreabizwire.com)
