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THE INVESTOR]
Daewoo Shipbuilding and Marine Engineering and the Defense Acquisition Program Administration on July 19 signed a contract for exploratory development stage of South Korea’s new submarine development.
Under the 70.5 billion won (US$61.99 million) contract, DSME will draw up the basic requirements for the 3,000-ton submarine until the end of 2018. DSME’s tasks include calculating the specifications for the submarine, and determining the materials.
The project is part of a larger program for designing and building an advanced military submarine. It will be the first time a military submarine is being designed and built with indigenous technology.
By Choi He-suk (
cheesuk@heraldcorp.com)
