Croatia's Iskra Shipyard and South Korea's HD Hyundai Heavy Industries (HHI) have signed a teaming agreement in Šibenik to establish a framework for long-term strategic cooperation in defense and civilian shipbuilding.
The cooperation covers joint activities related to future Croatian Navy programs, including the planned multipurpose corvette project, while also creating opportunities to pursue a broader range of projects in military, commercial and specialized shipbuilding.
The partnership follows Iskra Shipyard’s recent acquisition of the 3. MAJ shipyard in Rijeka. The acquisition brings together the production capabilities of the Šibenik and Rijeka shipyards, creating one of Croatia’s larger shipbuilding groups.
By combining HD Hyundai Heavy Industries’ experience in the construction of naval and commercial vessels and offshore structures with the production and engineering capabilities of Iskra Shipyard and 3. MAJ, the partners aim to establish a foundation for long-term cooperation that will include knowledge and technology transfer, development of local suppliers and increased competitiveness of the Croatian and European shipbuilding industries.
The partnership also reflects a shared objective of developing an industrial ecosystem that connects shipyards, domestic equipment manufacturers, technology companies, research institutions, and educational organizations to support the development of next-generation maritime and defense systems.
“This agreement represents much more than cooperation on a single project. Following the acquisition of 3. MAJ, Iskra Shipyard now has the capabilities to participate in complex European and international maritime projects. Our partnership with HD Hyundai Heavy Industries demonstrates that Croatia can be part of the development of Europe’s industrial and defense capabilities and contribute to advanced shipbuilding solutions for domestic and international markets,” said Roko Vuletić, president of the management board of Iskra Shipyard and 3. MAJ Shipyard Rijeka.
The agreement comes as Europe increases investment in defense capabilities, maritime border security and domestic industrial capacity. The partnership between Iskra Shipyard and HD Hyundai Heavy Industries is intended to support Croatia’s shipbuilding industry and its participation in European defense and shipbuilding supply chains.
To remind, a few months ago, Iskra Shipyard signed two Memoranda of Understanding (MoUs) with Italian Fincantieri as part of the naval acquisition program for two multi-role corvettes (MRC).