Hyundai says they hope to expand shipbuilding operations into Middle East.
Jin-Woong Choi, Senior Sales Manager told DefenseHere they had “many experiences” delivering ships in east Asia and try to expand their operations in the Middle East.
He said “We have delivered more than 90 vessels to the Korean Navy and the foreign navies and as of this record we have successfully delivered two frigates to Philippine Navy in 2020 and 2021, and now we are building 8 more vessels for Philippine navy and we are trying to have more vessels here in the East Asia and all over the world.
We also try to expand our business in the Middle East area. So we have visited the Saudi Arabia and the UAE and Egypt, but as of now we have not got the specific business.
But we are trying to have some business is so we participate in the exhibition in that area.
We are the shipbuilder, not the manufacturer of the equipment or the components. So we have to cooperate with the foreign, the industry. So we have the many relationship with the foreign industry. And these days the navies require local industry cooperation. So we need to have to have a relationship with the local industry or the local shipyard.”
In December 2023, Hyundai's Vice Chairman Chung Ki-sun hosted the Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef and Saudi Industrial Development Fund CEO Sultan Bin Khalid Al Saud to discuss ways Hyundai can contribute to Saudi Arabia's Vision 2030, including a potential joint shipyard and a joint venture project focused on building engines.
