HD Hyundai Heavy, GE Aerospace sign MOU for naval vessel development

South Korean shipbuilder HD Hyundai Heavy Industries Co. said Thursday it has partnered with U.S. industrial behemoth GE Aerospace for cooperation in winning overseas navy projects. HD Hyundai signed a memorandum of understanding with GE Aerospace at Sea Air Space 2024, a global maritime exposition held in Washington, D.C., to build world-class naval ships with marine gas turbines provided by the U.S. firm for exports, the company said in a statement. GE Aerospace was formerly called General Electric. On top of winning naval projects, the two companies plan to cooperate in the maintenance, repair and overhaul (MRO) business for exported warships and develop a next-generation naval vessel to bid for the Royal Australian Navy frigate project, it said. "By combining our expertise in proven engine technology with HD HHI's shipbuilding prowess, we are poised to deliver best-in-class vessels that are powerful and efficient," Rita Flaherty, vice president in charge of global sales and business development at GE Aerospace, said in a statement. The partnership between HD Hyundai Heavy and GE Aerospace started from the South Korean Navy's Ulsan-class frigate back in the 1970s. In past decades, GE has been the "most reliable" partner in the gas turbine propulsion systems, the statement said. "The latest MOU will help them expand their strong cooperation for the export programs beyond the Korean Navy's programs," Joo Won-ho, head of the naval special ship business unit at HD Hyundai Heavy, said. In other partnerships, HD Hyundai said it will cooperate with U.S. defense industry firm L3Harris Technologies Inc. to win a submarine project in Canada. HD Hyundai Heavy is one of three affiliates of HD Korea Shipbuilding and Offshore Engineering Co. (HD KSOE), along with HD Hyundai Mipo Dockyard and HD Hyundai Samho Heavy Industries Co. HD Hyundai, formerly known as Hyundai Heavy Industries Holdings, has HD KSOE as a subholding company under its wing. Source: Yonhap News Agency