Hanwha Ocean has signed a Strategic Alliance Agreement (SAA) with ONEX Shipyards & Technologies Group at the U.S. Embassy in Greece to revitalize Greece’s shipbuilding industry and enhance maritime sovereignty.
Hanwha Ocean press release
The signing ceremony was attended by Sean seongwoo Park, Vice President of Hanwha Ocean’s Naval Ship Business; Panagiotis Xenokostas, President of ONEX Group; Kimberly Guilfoyle, U.S. Ambassador to Greece; Harry Theoharis, Deputy Minister of Foreign Affairs of Greece; Juseong Lim, Ambassador of the Republic of Korea to Greece; and James Heller, Chargé d’Affaires of the U.S. Embassy in Korea.
This agreement reaffirms both companies’ commitment to supporting Greece’s national goal of achieving self-reliance in its shipbuilding industry. It outlines a comprehensive roadmap that includes ONEX’s infrastructure investments and Hanwha Ocean’s technological support. It also represents a step forward following the Teaming Agreement signed in March and the beginning of a trilateral maritime defense partnership among Korea, Greece, and the United States.
Under the agreement, ONEX will implement a phased shipyard infrastructure investment plan totaling €1.35 billion, supported in part by financing from the U.S. International Development Finance Corporation (DFC). Hanwha Ocean will actively support this initiative by providing the advanced technologies and expertise.
Together, Hanwha Ocean and ONEX aim to enhance shipbuilding and MRO (Maintenance, Repair, and Overhaul) capabilities at ONEX shipyards. Our goal is to establish a key naval shipbuilding and maintenance hub in the Mediterranean that can serve not only the Hellenic Navy but also allied forces.
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