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HD Hyundai signs MOU on naval shipbuilding program with India's Cochin Shipyard

Published: 11 Nov. 2025, 17:19 Updated: 11 Nov. 2025, 18:23

A view of Cochin Shipyard in India. HD Hyundai Heavy Industries announced Nov. 11 that it had signed a memorandum of understanding with Cochin Shipyard, India’s largest state-owned shipbuilder, to cooperate on the Indian Navy’s landing platform dock program. [HD HYUNDAI HEAVY INDUSTRIES]

HD Hyundai Heavy Industries is partnering with India’s state-owned Cochin Shipyard to enter the country’s naval shipbuilding market, the Korean shipbuilder said Tuesday, with a memorandum of understanding (MOU) signed on Monday to jointly pursue a landing platform dock program for the Indian Navy.

Cochin Shipyard, located in the southern Indian state of Kerala, has capabilities ranging from commercial vessels to aircraft carriers. In July, HD Korea Shipbuilding & Offshore Engineering, HD HHI’s parent company, signed an MOU with Cochin Shipyard to collaborate on ship design, procurement support, productivity improvement and work force training. The latest agreement expands that partnership into naval defense.

Under the MOU, the two shipyards will jointly develop the design and provide technical support for India’s next-generation amphibious assault ships. The Indian government is pushing a large-scale military modernization initiative. As part of this effort, it recently unveiled the Technology Perspective and Capability Roadmap 2025, outlining its 15-year plan to enhance naval capabilities, including the procurement of next-generation destroyers, landing ships and nuclear-powered systems.

India is reportedly planning to procure four 29,000-ton landing platform docks, with the total cost estimated at around $9 billion. HD HHI aims to use this project as a foothold to expand into India’s high-value naval shipbuilding market.

India is also pursuing growth in its commercial shipbuilding sector at the national level. According to a report published by the Korea Trade-Investment Promotion Agency in July, India’s newbuild output stood at just 40,000 gross tons last year, accounting for 0.06 percent of the global shipbuilding market and ranking 16th worldwide.

HD Hyundai Heavy Industries' Ulsan shipyard [HD HYUNDAI]

Due to production costs that are 25 to 35 percent higher than those of Korea, China and Japan, India lacks price competitiveness in commercial shipbuilding. In response, the Indian government is actively promoting the industry as a strategic sector, with ambitions to become one of the world's top 10 shipbuilding nations by 2030 and top five by 2047.

India is investing heavily in the initiative. According to Nikkei Asia, the Indian government in September announced a 697.3 billion Indian rupee ($7.86 billion) support package for its maritime industry, including funding for shipbuilding and marine infrastructure. The country is prioritizing cooperation with Korea and Japan over China due to ongoing geopolitical tensions.

The report said India’s shipbuilding drive is expected to create more opportunities for foreign companies to win state contracts and export advanced shipyard infrastructure and technology, including smart shipyards and defense systems.

HD HHI plans to continue expanding its naval and defense networks globally. In October, it agreed to jointly participate in the U.S. Navy’s next-generation logistics support ship project with Huntington Ingalls Industries, the largest defense shipbuilder in the United States.

In June, it formed a strategic partnership with Edison Chouest Offshore. It is also working with Peru’s state-run shipbuilder SIMA to develop next-generation submarines, and in March, delivered the first of two patrol vessels ordered by the government of the Philippines ahead of schedule.

Correction, Nov. 11, 2025: Original story contained an inaccurate estimate of the project.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY LEE SU-JEONG [[email protected]]