South Korean shipbuilding heavyweight HD Hyundai Heavy Industries (HD HHI) has signed a Memorandum of Agreement (MoA) with Peru’s state-owned shipyard SIMA Peru to collaborate on a joint submarine development.
As informed, the MoA expands the scope of the Memorandum of Understanding (MoU) signed at the Asia-Pacific Economic Cooperation (APEC) 2024 meeting held in Peru last November.
The core of the MOA is to develop customized submarines based on HD Hyundai Heavy Industries’ modern technology and Peru’s maritime defense capabilities as part of the Peruvian Navy’s aging fleet renewal program. The goal is to replace aging submarines with a 1,500-ton medium-sized vessel based on HD Hyundai Heavy Industries’ HDS-1500 model.
The signing ceremony for the MoA took place at SITDEF 2025, Latin America’s largest defense exhibition, held in Lima, Peru. The company showcased next-generation frigates ordered by the Peruvian Navy in April last year and next-generation submarines being jointly developed with the Peruvian government.
The South Korean major also obtained Approval in Principle (AIP) from the global classification society DNV for the HDS-1500 submarine showcased at this exhibition. This follows the AIP received last year from DNV for the 2,300-ton submarine HDS-2300, expanding HD Hyundai Heavy Industries’ K-submarine export lineup in the global market.
“HD Hyundai Heavy Industries is expanding its cooperative relationship from surface vessels to submarines based on a long-term partnership with the Peruvian Navy. HD Hyundai Heavy Industries has completed all preparations to enter the Latin American market with Peru as its stronghold,” said Joo Wonho , Head of the Naval & Special Ship Business Unit at HD Hyundai Heavy Industries.