Hanwha Ocean enters Greek naval market through partnership with ONEX

March 24, 2026, by Fatima Bahtić

South Korea’s Hanwha Ocean has formalized its entry into the Greek naval and maritime defense sector by signing a strategic teaming agreement with Greece’s ONEX Shipyards & Technologies Group, the country’s largest shipbuilding and defense firm.

The signing ceremony brought together key figures, including Loukas Tsokos, Greek Ambassador to Korea; James Heller, US Embassy Chargé d’Affaires in Korea; Sung-Chul Eoh, President of Hanwha Ocean’s Naval Ship Business; and Panagiotis Xenokostas, President of ONEX Group.

Under the agreement, Hanwha Ocean and ONEX will serve as exclusive strategic partners on submarine and other naval programs for the Hellenic Coast Guard and Hellenic Navy.

The companies also aim to explore joint opportunities in the wider Mediterranean and Black Sea regions, targeting third-country markets over the medium to long term.

ONEX operates both the Syros Neorion and Elefsis shipyards.

The partnership is expected to leverage each company’s capabilities, strengthening their presence in European maritime and defense markets.