A Memorandum of Cooperation on the joint construction of surface vessels for the needs of the Navy and the Coast Guard was signed on Tuesday, in the framework of the International Exhibition Posidonia 2026, by Skaramagas Shipyards and HD Hyundai Heavy Industries.
The memorandum was signed by the Vice President and Managing Director of Skaramagas Shipyards, Miltiadis Varvitsiotis, and the Senior Vice President of HD Hyundai Heavy Industries, Kim Jae Rak, in the presence of the Deputy Minister of Shipping and Insular Policy, Stephanos Gikas, and the Ambassador of the Republic of Korea to Greece, Ju-seong Lim.
According to the two companies, the cooperation aims to jointly develop and build surface vessels that will address not only the Greek market, but also the European defence and shipbuilding market.
In a statement, Varvitsiotis described the agreement as strategically important, noting that it was reached just two years after the resumption of operations at the Skaramagas Shipyards. At the same time, he thanked the governments of Greece and the Republic of Korea for their support in promoting cooperation.
For his part, Mr. Kim Jae Rak referred to Hyundai Heavy Industries’ long-standing ties with the Greek shipping industry, noting that the support of Greek shipowners has been instrumental in the company’s development. He said the memorandum lays the foundation for a long-term cooperation with the prospect of expansion both in the European market and in markets outside the European Union.
The two sides believe that the agreement creates conditions for strengthening shipbuilding activity in Greece and expanding their presence in the construction of defence and special vessels.
