Hanwha Ocean has signed a strategic teaming agreement with Greek company ONEX Shipyards & Technologies Group to jointly pursue defense programs under the Hellenic Armed Forces.
The deal establishes the two firms as prime partners for naval and coast guard initiatives being developed by Athens, including submarine programs, as Seoul-based Hanwha seeks to expand its footprint in Europe.
The consortium said the partnership will support shipbuilding, maintenance, repair, and overhaul capabilities, while enhancing the Balkan state’s maritime defense sector.
It also includes plans to explore opportunities in additional markets across the Mediterranean and Black Sea regions over the mid to long term.
ONEX, Greece’s largest shipbuilding and defense firm, operates at its facilities in Syros Neorion and Elefsis.
‘Shared Future’
Hanwha Ocean Naval Ship Division President Sung-cheol Eo and ONEX’s CEO and chairman Panagiotis Xenokostas signed the agreement in Seoul, with Greek Ambassador Loukas Tsokos and US Chargé d’Affaires James Heller in attendance.
“It is an honor to stand in Seoul, a hub of one of the world’s leading maritime nations,” The Elec quoted Xenokostas as saying.
“Let Korea, the United States and Greece sail together toward a shared future of security and prosperity.”
Eo added that the collaboration will secure a solid position in the Greek market while supporting the development of the country’s broader industrial base.
“Through this exclusive cooperation with a major local shipyard, we plan to stably enter the local market and actively participate in the upcoming projects for the Greek Coast Guard and Navy,” Business Korea reported, quoting Eo.