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Hanwha Ocean signs $845M deal to build diesel submarine

Published: 22 Dec. 2023, 18:41 Updated: 22 Dec. 2023, 18:49

SEO JI-EUN
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The Jangbogo-III Batch-II submarine [HANWHA OCEAN]

Hanwha Ocean clinched a 1.1 trillion-won ($845 million) deal Friday to build a 3,600-ton submarine for the Korean Navy.

The agreement, formalized with the Defense Acquisition Program Administration (DAPA) on Friday, marks the third and final submarine under the Jangbogo-III Batch-II, or KSS-III Batch-II program. Hanwha Ocean, previously known as Daewoo Shipbuilding and Marine Engineering, has been involved in building two other KSS-III Batch-II submarines since 2021.

It also signifies the company's first submarine construction project since joining the Hanwha Group in April.

"The KSS-III Batch-II combines the Air-Independent Propulsion (AIP) system with lithium-ion batteries, making it the first of its kind globally," a Hanwha Ocean official said Friday.

Compared to its predecessor, the KSS-III Batch-I, the submarine features enhanced armaments, including increased length and vertical launch tubes. Hanwha Ocean highlights that it is now considered the "most heavily armed and longest-submerged diesel-powered submarine" currently available.

The construction of the submarine is expected to be completed by 2029, with the deployment to the Navy projected for December 2031.

BY SEO JI-EUN [[email protected]]