https://www.businesskorea.co.kr/news/articleView.html?idxno=276491
Hanwha Ocean has gained a strong position to secure the Royal Thai Navy’s next-generation frigate project after beating out fierce competition from major global shipbuilding and defense companies. The selection is significant as it demonstrates how the successful operation of previously exported naval vessels can lead to follow-on defense contracts, creating a virtuous cycle for South Korea’s defense exports.
Hanwha Ocean has been selected as the preferred bidder for the Royal Thai Navy’s next-generation frigate project, putting the South Korean shipbuilder in a favorable position to secure a contract worth 16.73 billion baht, or about 683.3 billion won ($510.46 million). The project covers the construction of one frigate as well as integrated logistics support for stable operations.
The bidding competition drew six major global defense companies, including Spain’s Navantia, Singapore’s ST Engineering, and Turkey’s ASFAT and TAIS. Hanwha Ocean is believed to have outperformed its rivals by highlighting the successful construction and operational track record of the 3,700-ton multipurpose stealth frigate HTMS Bhumibol Adulyadej, which its predecessor, Daewoo Shipbuilding & Marine Engineering, delivered to the Royal Thai Navy in 2018.
...
New submarine project for Peruvian Navy (2025)