Hanwha Ocean has been selected as the preferred bidder for the Royal Thai Navy’s next-generation frigate acquisition program, strengthening the Korean shipbuilder’s foothold in Southeast Asia’s growing naval defense market.
The program calls for the construction of one frigate along with integrated logistics support. The Royal Thai Navy has proposed a budget of 16.73 billion baht, equivalent to approximately 683.3 billion won, for the project.
Selection as the preferred bidder marks the stage before the final contract, with Hanwha Ocean and the Thai Navy expected to negotiate detailed technical specifications, construction requirements and other contractual terms. The final agreement will be determined based on the outcome of those negotiations.
Hanwha Ocean’s previous experience with the Thai Navy was a key factor in its selection. In 2018, the company successfully delivered the HTMS Bhumibol Adulyadej, the Thai Navy’s first frigate under its earlier frigate program.
The company’s accumulated shipbuilding expertise and understanding of the Thai Navy’s operational requirements helped strengthen its competitiveness against other international defense companies participating in the tender, including firms from Spain, Singapore and Türkiye.
The latest selection also reflects broader defense cooperation between South Korea and Thailand. The two countries have maintained regular military exchanges, including naval consultations, port calls by the Republic of Korea Navy’s cruise training fleet and participation in the Cobra Gold multinational military exercise.
The South Korean Ministry of National Defense, the Defense Acquisition Program Administration and the Republic of Korea Navy also provided support during the bidding process.
Hanwha Ocean plans to use the project to deepen its long-term maritime defense partnership with Thailand while expanding its presence in the global surface combatant market.
During the upcoming negotiations, the company will seek to establish contract terms that balance the Thai Navy’s operational requirements with stable project execution and cost efficiency.
Hanwha Ocean said the Thai program will serve as an important opportunity to demonstrate its competitiveness in naval shipbuilding and pursue additional opportunities across Southeast Asia and other international markets.
