HD Hyundai Heavy Industries is expanding its shipbuilding operations in Subic Bay by adding a dedicated maintenance, repair and overhaul facility to complement its ongoing $2-billion projects at the former US naval base.

Company officials outlined plans to position the Philippines as a strategic hub for maritime security in the Indo-Pacific during the Philippines–Korea Business Forum in Manila, held during the visit of South Korean President Lee Jae-myung.

HD Hyundai Philippine Shipyard official Inho “Robin” Lee said the local unit would expand global vessel construction while establishing a dedicated MRO center. A commercial port and trading center in Subic is also scheduled to open soon.

The Philippines is a front-line state in regional maritime security and an ideal logistics and MRO hub due to its strategic location and supply chain advantages, Lee said.

The company is delivering combatant vessels for the Philippine Navy and patrol boats for the Philippine Coast Guard as part of its $2-billion commitments.

The Subic yard now occupies about 33 percent of the facility—roughly 120 football fields—and is being positioned as a core site for the group’s global expansion.

On the sidelines of the forum, the company signed a memorandum of understanding with the Technical Education and Skills Development Authority to help develop the skilled workforce required for its projects.

HD Hyundai provides end-to-end solutions spanning shipbuilding, industrial equipment, robotics and energy with more than 30 subsidiaries and over $50 billion in revenue.

In South Korea, it operates major shipyards in Busan and Mokpo that together produce about 145 vessels annually. This represents more than half of the country’s total output and roughly 1/7 of global production.
Source: Manila Standard