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South Korean aerospace industrial company Hanwha Aerospace has signed a memorandum of understanding with British aerospace and defence company Babcock International to enhance bilateral cooperation.
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Under the agreement, both companies are seeking global business opportunities by leveraging their extensive operations.
The Hanwha Aerospace–Babcock partnership is expected to be initially focused on cooperation regarding conventional submarines, before expanding to wider business sectors such as aerospace, communications, and energy solutions.
“This memorandum of understanding deepens our already strong connection with Babcock, as well as our dedication to Korea–United Kingdom defence ties as we work together to address global defence challenges,” according to Hanwha Aerospace chief executive officer and president Son Jae-il.
“As we move forward, we are keen to leveraging the synergies of this partnership to strengthen our product offerings and give exceptional value to our customers around the world.”
The new partnership is expected to benefit from Babcock’s experience supporting defence programs in countries such as Canada and Poland, as well as its expertise in maintenance, repair and overhaul, alongside Hanwha Aerospace’s extensive expertise in global aerospace and defence equipment.
The agreement was accepted during a state visit to the United Kingdom by South Korean President Yoon Seok-yeol.
“This announcement builds on our longstanding relationship with Hanwha in both the defence and energy sectors,” according to Babcock chief executive officer David Lockwood.
“This is an exciting venture that will see our organisations bring together complementary skills and expertise to forge innovative solutions for our current and future customers across the globe.
Babcock is currently working with Hanwha on its Weapon Handling System for the Korean submarine program and has strong existing relations with Hanwha Ocean through joint work on global opportunities, including the Poland and Philippine submarine projects.
In June 2023, Babcock Canada and Hanwha Ocean signed a technical cooperation agreement enabling both companies to share their respective capabilities in shipbuilding and submarine sustainment in support of the CPSP and the current Victoria In-Service Support Contract.
