Babcock International and South Korean company Hanwha Aerospace have signed a memorandum of understanding to collaborate on new products and services for land, air and sea domains, with an initial focus on conventional submarines.
The MOU was signed during South Korean President Yoon Suk Yeol’s recent visit to the United Kingdom.
Under the agreement, Hanwha Aerospace will contribute its expertise in global aerospace and defense equipment manufacturing to joint development efforts. The partnership also takes advantage of Babcock’s long history of providing maintenance, repair and overhaul services to government customers globally to pursue new business opportunities.
“This is an exciting venture that will see our organizations bring together complementary skills and expertise to forge innovative solutions for our current and future customers across the globe,” said David Lockwood, CEO of Babcock.
The MOU follows a technical cooperation agreement Babcock Canada signed with Hanwha Ocean in June 2023 to combine shipbuilding and submarine sustainment capabilities for the Canadian Patrol Submarine Project and the Victoria in Service Support Contract.