MoPSW Secretary met with delegation from Hanwha Ocean, South Korea

NEW DELHI : Shri T.K. Ramachandran, Secretary, MoPSW, met with a delegation from Hanwha Ocean, South Korea, to discuss potential shipbuilding collaborations between India & Korea. The meeting also explored opportunities to enhance partnerships between Indian shipyards & Hanwha Ocean.

High-ranking delegates from Korean shipbuilder Hanwha Ocean met with Indian shipbuilding authorities, raising expectations of potential collaboration to boost India’s shipbuilding industry.

The Ministry of Ports, Shipping and Waterways announced Wednesday on social media that Hanwha’s delegation led by Senior Vice President Lee Jin-su visited the ministry’s Secretary Shri T.K. Ramachandran to discuss opportunities for strengthening partnerships between the company and Indian shipyards.

The meeting came after the Korean delegation visited Hindustan Shipyard, a state-run shipbuilding company in Andhra Pradesh, eastern India, earlier this week.

However, some industry insiders believe it is premature to anticipate Korean companies engaging in joint shipbuilding operations in India. They cite that similar expectations of significant progress in shipbuilding collaboration arose when Prime Minister Shri Narendra Modi visited HD Hyundai Heavy Industries shipyard in Ulsan in 2015.

“India is seeking a model to learn from to boost its shipbuilding industry, and its close contact with Korean industries may stem from the fact that Korea is the only country with a strong shipbuilding capability following its rise as an advanced nation,” said an industry insider.