Written by 11:08 AM Economics

Hanwha Ocean withdraws complaint against HD Hyundai Heavy Industries regarding destroyer bid, citing “shared goal of expanding defense exports.”

Hanwha Ocean has announced its decision to withdraw a police complaint against HD Hyundai Heavy Industries regarding the bidding for the Korean-style next-generation destroyer, KDDX. Hanwha Ocean stated that it submitted the withdrawal request to the National Police Agency’s National Office of Investigation today, reasoning that it is appropriate to withdraw the complaint to achieve the shared goal of expanding exports in the marine defense sector.

It is understood that this withdrawal is supported by a consensus between Kim Dong-kwan, Vice Chairman of Hanwha Group, and Jeong Ki-seon, Vice Chairman of HD Hyundai, in light of President-elect Donald Trump requesting cooperation with the South Korean shipbuilding industry.

Last November, employees of HD Hyundai Heavy Industries were found guilty of leaking military secrets related to KDDX, among other matters. In March of this year, Hanwha Ocean filed a complaint with the National Police Agency’s National Office of Investigation, requesting further investigation into the possible involvement of HD Hyundai Heavy Industries executives.

Regarding the withdrawal of the complaint, HD Hyundai expressed relief, stating, “We consider it fortunate, albeit late,” and expressed hope that the KDDX project proceeds promptly according to law and principles.

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