HD Hyundai to jointly develop submarines with Peruvian government, order received by ”Team Korea” attracts attention - Korean media

South Korea's HD Hyundai (formerly Hyundai Heavy Industries) announced on the 16th (local time) that it has acquired SIMA (Servicios Industriales de la
The Peruvian Navy announced that it has signed a memorandum of understanding (MOU) with the Peruvian Navy's Marine Corps (Marina) for the joint development of submarines. The partnership is part of the Peruvian Navy's ongoing project to replace aging ships.
The purpose of the agreement is to strengthen cooperation toward the Peruvian Navy's goal of achieving the ...
In April, HD Hyundai announced it would export four warships to Latin America for a total of 640.6 billion won (approximately 70.8 billion yen), the largest defense-related export to the country to date.
The company signed a contract with SIMA for the construction and joint production of the submarine, and has been designated as a partner of the Peruvian government and navy for the next 15 years, with priority negotiations for any follow-on projects.
The order for the construction of the Peruvian warships was received by South Korean government agencies and companies, including the Ministry of National Defense, the Navy, the Defense Acquisition Program Administration, the Ministry of Trade, Industry and Energy, and the Korea Trade-Investment Promotion Agency (KOTRA), acting as "Team Korea."
HD Hyundai established a branch office in Peru in September and has been in full swing since sending its first equipment and materials to the Peruvian branch in October.