Hanwha Ocean signed a Teaming Agreement for strategic cooperation on business in Greece with ONEX Shipyards & Technologies Group, Greece’s largest shipbuilding company. The signing ceremony was attended by Sung-cheol Eo, President of Hanwha Ocean’s Naval & Special Ship Business Unit, and Panagiotis Xenokostas, President & CEO of ONEX Group, in the presence of Loukas Tsokos, Greek Ambassador to Korea, and James Heller, Chargé d’Affaires ad interim of the U.S. Embassy in Seoul.

Through this agreement, Hanwha Ocean and ONEX Group will participate as mutually exclusive partners in projects such as submarine programs commissioned by the Greek Coast Guard and Navy. In the medium to long term, the two companies have also agreed to explore opportunities for cooperation on a project-by-project basis in third countries, including those neighboring Greece in the Mediterranean and Black Sea regions.

On this day, President Xenokostas of ONEX said, “It is an honor to be here in Seoul, the heart of a global maritime powerhouse,” adding, “Let the three nations—Korea, the United States, and Greece—sail together toward a future of common security and prosperity.”

Sung-cheol Eo, President of Hanwha Ocean’s Naval & Special Ship Business Unit, stated, “Through this exclusive cooperation with a major local shipyard, we plan to stably enter the local market and actively participate in the upcoming projects for the Greek Coast Guard and Navy.”

ONEX Group is Greece’s largest shipbuilding and defense company, operating the Syros Neorion and Elefsis shipyards. The agreement between Hanwha Ocean and ONEX Group is expected to create synergies in the European market.

Notably, ONEX Group is a company invested in by the U.S. International Development Finance Corporation (DFC), a development finance institution of the U.S. government. Accordingly, James Heller, Chargé d’Affaires ad interim of the U.S. Embassy in Seoul, also attended the event.

Source:Business Korea