Peruvian President Jose Jeri (center) and Park Yong-yeol (far right), executive vice president of HD Hyundai Heavy Industries’ naval and special ship unit, pose with officials at the Servicios Industriales de la Marina shipyard in Lima, Peru, Friday. (HD Hyundai Heavy Industries)
Peruvian President Jose Jeri (center) and Park Yong-yeol (far right), executive vice president of HD Hyundai Heavy Industries’ naval and special ship unit, pose with officials at the Servicios Industriales de la Marina shipyard in Lima, Peru, Friday. (HD Hyundai Heavy Industries)

HD Hyundai Heavy Industries on Friday signed a contract with the Peruvian Navy and Peru's state-run shipbuilder Servicios Industriales de la Marina to jointly develop next-generation submarines, marking the company's first-ever export of submarines in its push into the global defense market.

The deal focuses on submarine design and follows a letter of intent signed during the Asia-Pacific Economic Cooperation summit in Gyeongju, North Gyeongsang Province, in November. The project is scheduled to begin in January and run for 11 months.

Under the agreement signed at the SIMA shipyard in Lima, Peru, HD Hyundai will work with the Peruvian Navy to incorporate the country’s operational requirements into submarine designs, combining local needs with the Korean shipbuilder’s technology.

Peru operates naval assets along a vast Pacific coastline and in complex underwater environments with depths exceeding 3,000 meters. HD Hyundai said the designs will reflect these conditions and include advanced equipment, weapons and communication systems.

The project is seen as a key pillar of Peru’s efforts to modernize its naval capabilities and strengthen its domestic shipbuilding industry. HD Hyundai said it expects the partnership to serve as a stepping-stone for expanding Korea’s submarine exports.

“The contract between SIMA and HD Hyundai not only strengthens Peru’s shipbuilding industry but also symbolizes cooperation between the two countries,” Peruvian President Jose Jeri said, adding that the government is committed to the project.

HD Hyundai Heavy Industries President Joo Won-ho, who heads the company’s naval and special ship unit, said the deal represents “a turning point for Korea’s submarine exports.”

“We will develop submarines that reflect the operational environment and needs of the Peruvian Navy, leveraging our technological capabilities and experience,” Joo added.

Separately, HD Hyundai has expanded its defense cooperation with Peru, having signed a contract in April 2024 to build four surface vessels across three ship types.


andreahaneu@heraldcorp.com