HD Hyundai Heavy Industries Secures KRW468.9 Billion Contract for KSS-II Submarine Upgrade Project from DAPA

MT Newswires Live

Oct 30, 2025

HD Hyundai Heavy Industries (KRX:329180) secured a contract from the South Korean Ministry of National Defense's Defense Acquisition Program Administration (DAPA) to carry out the KSS-II submarine performance improvement project, according to a Thursday filing with the Korea Exchange.

The contract is valued at 468.9 billion won, and is effective till Dec. 20, 2033. The deal represents 3.24% of the company's total sales in 2024.

The defense procurement agency had selected the shipbuilder in July as a preferred bidder for the project, according to a Naval News report.

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