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Hanwha Ocean Wins KRW838 Billion KDDX Destroyer Contract

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Hanwha Ocean (KRX:042660) has secured an 838 billion won contract from South Korea's Defense Acquisition Program Administration to design and build the lead ship for the Korea Destroyer Next Generation (KDDX) program, according to a bourse filing on Friday.

The contract, effective July 31, 2026, will run through June 30, 2032.

Hanwha Ocean said the contract period and final settlement amount may change as construction progresses.

The KDDX program aims to build six next-generation Navy destroyers using domestically developed technologies. The overall project is estimated to be worth 7.8 trillion won ($5.1 billion), according to an earlier report by The Korea Times.

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