ONEX Shipyards & Technologies Group and South Korea’s Hanwha Ocean have signed a strategic cooperation agreement to develop defence shipbuilding activities in Greece, as well as across the wider Mediterranean and Southeastern Europe.

The agreement was signed in Seoul in the presence of company executives and representatives from governments and diplomatic missions. According to an official statement, ONEX shipyards are expected to become a key regional hub for Hanwha Ocean’s operations.

The partnership includes the development of capabilities for building and supporting defence vessels and submarines, alongside strengthening the technological foundation of Greece’s shipbuilding industry. It also envisages the establishment of production and maintenance, repair, and overhaul (MRO) facilities in Greece, aimed at serving both domestic needs and international markets in the region.

Figures released indicate that the agreement targets more than 70% domestic participation in shipbuilding projects. At the same time, it seeks to boost export activity, enhancing Greece’s position in the global defence shipbuilding market.

Economically, the investment is expected to create new jobs and reinforce the domestic industrial ecosystem, particularly in highly specialised sectors.

ONEX President and CEO Panos Xenokostas stated that the agreement forms part of a broader strategy to strengthen domestic production and expand export capabilities in shipbuilding. He emphasized that cooperation with Hanwha Ocean will enable the production of advanced shipbuilding systems in Greece and enhance the country’s role in international value chains.

Overall, the agreement aligns with wider efforts to strengthen the defence industry and domestic production base, with a focus on international partnerships and the transfer of expertise.

Source: newmoney.gr