UK-based Babcock International Group has signed a strategic co-operation agreement (SCA) with South Korean shipbuilding and offshore company Hanwha Ocean, the company announced on 29 November 2024, adding to the memorandum of understanding (MoU) with Korea Aerospace Industries (KAI) announced earlier that day.
The SCA with Hanwha Ocean is designed to further develop opportunities in the global naval market. This agreement outlines a joint aim to deepen co-operation in major global naval procurement projects, including the Polish Orka submarine programme and the Canadian Patrol Submarine Project, leveraging the two companies’ respective strengths “to provide tailored solutions for clients throughout the entire lifecycle of naval platforms, from acquisition to operation”, Babcock stated in a press release.
The agreement builds on Babcock and Hanwha Ocean’s existing relationship, which dates back to June 2023, when Babcock Canada signed a technical co-operation agreement to support Canada’s submarine sustainment programmes and co-operate on the Canadian Patrol Submarine Project. In February 2024 the two companies also entered a teaming agreement to collaborate on global submarine programmes.
Babcock’s MoU with KAI is focused on exploring military flying training, air base support and engineering opportunities in central, eastern and southern Europe. The tie-up between the two companies brings together a combination of miliary aviation experience that covers production, training and support.
During his visit to South Korea in the last week of November to sign the agreements Babcock’s CEO David Lockwood stated, “We have longstanding relationships and an established presence in South Korea. These agreements will help to grow these exciting strategic partnerships, leveraging our respective capabilities to pursue global prospects and to deliver impactful results for our customers.”
