Korea Proceeds With The Plan

Korea Proceeds With The Plan 10 November, 2016

The Republic of Korea gets ahead with its shipbuilding plan announced in September. Under this programme, the Korea Coast Guard (KCG) signed a $138 million contract with Hanjin Heavy Industries & Construction (HHIC) for five new Tae Geuk-class offshore patrol vessels (OPVs) at the beginning of this month, following another contract regarding three more Tae Geuk-class vessels with Kangnam Corporation. KCG also allocated over $68 million budget for the acquisition of a 3 thousand ton-OPV. 
The plan aims to uplift domestic industry and improve maritime defence capabilities.

Issue 86