South Korea’s Hanwha Ocean and steel giant POSCO have signed an agreement to co-develop giga-class steel — a next-generation material engineered to meet the strength demands of future naval vessels.
Hanwha Ocean, a key builder of submarines and destroyers for the Republic of Korea Navy and international clients, will collaborate with POSCO, one of the world’s largest steel producers known for its high-performance materials across multiple sectors.
The memorandum of understanding outlines cooperation in six key areas, including steel production technology, welding techniques, and hull design applications, Business Korea reported. The partners aim to complete R&D within two to three years.
Giga-class steel is reported to be up to four times stronger than conventional shipbuilding steel, enabling lighter structures with enhanced durability. Its use could significantly improve survivability and stability in both crewed and uncrewed naval platforms.
The initiative aligns with a global movement to modernize naval materials and shipyard infrastructure.
In the U.S., Austal USA recently began constructing a submarine module facility to support Columbia- and Virginia-class submarines.
In Japan, Tsuneishi Shipbuilding launched a hydrogen dual-fuel tugboat built with green steel from JFE Steel to lower carbon emissions.
South Korea, meanwhile, is expanding its own naval capabilities. HD Hyundai Heavy Industries has announced plans to produce up to five Aegis destroyers annually for the U.S. Navy, while the domestic KDDX program continues apace, with six vessels expected to be delivered by 2030.
