Hanwha Ocean inks submarine deal with German defense contractor

Executives from Hanwha Ocean and Gabler pose for a photo after signing a deal on submarine maintenance, repair and overhaul (MRO) in Seoul on Tuesday. [HANWHA OCEAN]

Hanwha Ocean has signed an agreement with German defense contractor Gabler on submarine maintenance, repair and overhaul (MRO), said the Korean shipbuilder on Wednesday.

The deal, signed a day earlier, calls for bilateral cooperation in the MRO of submarines' “hoistable masts,” said Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering (DSME).

Hoistable masts refer to upper structures of submarines, including the periscope and radar.

A week ago, Gabler, which specializes in providing international navies with innovative, reliable submarine mast systems and key components, set up a local branch in the run-up to its cooperation with Hanwha Ocean.

The agreement is expected to enable both companies to share mast inspection and confirmation procedures and lead to an active exchange of technological skill, the shipyard said.

Hanwha Ocean said it has been ramping up efforts to expand its MRO business to meet growing demand at home and abroad.

Major German and British defense contractors have been creating revenue through MRO services for more than 30 years after exporting submarines, it added.

In May 2023, Hanwha Ocean set sail as the shipbuilding arm of Hanwha Group after obtaining regulatory approval for its purchase of a 49.3 percent stake in DSME and managerial control.

BY LEE JAE-LIM, YONHAP [lee.jaelim@joongang.co.kr]