Greek shipbuilder Skaramangas Shipyards and South Korea’s HD Hyundai Heavy Industries (HHI) have signed a Memorandum of Understanding (MoU) to jointly pursue the construction of surface vessels for naval and coast guard missions, targeting opportunities across the European market.
The memorandum was signed on June 2 at the POSIDONIA 2026 international maritime exhibition. Miltiadis Varvitsiotis , Vice Chairman and Chief Executive Officer of Skaramangas Shipyards, and Kim Jae Rak , Senior Vice President of HD Hyundai Heavy Industries, formalized the agreement on behalf of their respective companies.
The signing ceremony was also attended by Greece’s Deputy Minister of Maritime Affairs, Stefanos Gikas, and the Republic of Korea’s Ambassador to Greece, Ju-seong Lim , both of whom welcomed the initiative.
Under the agreement, the two shipbuilders will explore cooperation in the joint construction of surface vessels for naval and coast guard requirements. The partners also intend to pursue opportunities across the broader European defense and maritime security market.
Varvitsiotis described the agreement as an important step for both companies, highlighting the partnership between what he called the world’s largest shipyard and Greece’s largest shipyard, as well as one of the largest in the Mediterranean.
He noted that the cooperation was achieved only two years after Skaramangas Shipyards resumed operations and thanked the governments of Greece and South Korea for supporting the initiative.
Kim Jae Rak emphasized the longstanding relationship between Hyundai Heavy Industries and the Greek maritime sector, noting that Greek shipowners played a key role in supporting the company’s early development.
He said the new memorandum lays the foundation for long-term cooperation not only in Greece but also in the wider European Union market and beyond.
The agreement reflects growing defense and industrial cooperation between Greece and South Korea, while positioning both shipbuilders to pursue future naval shipbuilding opportunities in Europe.
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