On October 1, Hanwha Ocean announced that it signed a memorandum of understanding with POSCO to jointly develop ultra-high-strength steel, referred to as giga-grade steel, for next-generation naval vessels.
The companies agreed to cooperate in six fields, including steel and utilization technologies, welding materials, welding technologies, and hull application technologies.
According to the announcement, giga-grade steel is a rolled steel plate that can enhance structural safety, protection performance, and welding safety of naval systems such as warships and unmanned surface vessels.
Hanwha Ocean and POSCO aim to complete research and development of the material within two to three years. The companies said the new steel could significantly reduce vessel weight while improving ballistic resistance, thereby increasing both ship safety and crew survivability.
Industry sources cited in the announcement noted that giga-grade steel is estimated to be about four times stronger than ordinary steel.
During the signing, Kim Il-hong stated, “Through this cooperation, Hanwha Ocean has begun full-scale preparation for entry into the global advanced naval market with POSCO.” Song Yeon-gyun added, “Through this MOU, the two companies will work closely together to accelerate the development of giga-grade steel for next-generation naval vessels and strengthen the global competitiveness of Korea’s maritime defense industry.”
Hanwha Ocean Co., Ltd. is a South Korean shipbuilding company formerly known as Daewoo Shipbuilding & Marine Engineering Co., Ltd. It operates as part of the Hanwha Group and engages in the design and construction of commercial vessels, naval ships, and offshore structures.
POSCO Holdings Inc. is the parent company of the POSCO Group, a South Korean multinational steelmaking conglomerate headquartered in Pohang. Its subsidiary POSCO is one of the world’s largest steel producers, with operations across steel manufacturing, energy, and materials research.
