A Jangbogo-III submarine built by Hanwha Ocean. [Hanwha Ocean]
A Jangbogo-III submarine built by Hanwha Ocean. [Hanwha Ocean]

Hanwha Ocean has entered the competition for Chile's submarine and frigate procurement programs, timing its push to coincide with President Lee Jae-myung's state visit to the country.

Hanwha Ocean President Jeong In-seop, Executive Director Park Seong-woo and five other senior executives are accompanying Lee on his Chile trip Tuesday, according to the defense industry.

Chile is the only Latin American country to have signed both a defense logistics cooperation agreement (2015) and a defense cooperation agreement (effective 2023) with South Korea. The two countries' ties stretch back nearly half a century to the establishment of their respective military attaché offices in 1976 and 1977, providing the foundation for Hanwha Ocean's current bid. The Defense Acquisition Program Administration also led a pan-government and corporate delegation to Chile in April.

The Chilean Navy is seeking a replacement for two German-built Type 209/1400L submarines acquired in the 1980s, which are approaching retirement.

Hanwha Ocean has proposed the Ocean 2000, a 2,000-ton export submarine derived from the South Korean Navy's Jangbogo-III (KSS-III) design. The offer goes beyond a straightforward vessel sale, packaging the deal in three stages — joint design, local construction at the state-owned shipyard ASMAR, and technology transfer — and includes training more than 200 Chilean personnel.

Hanwha Ocean is also pitching the Ocean 4500, a next-generation 4,500-ton frigate. At the FIDAE 2026 defense exhibition in Santiago in April, Hanwha Ocean, Hanwha Systems and Hanwha Aerospace presented an integrated solution as a unified team. The company also signed an MOU with Chile's Universidad Austral for workforce development.

The Chilean Navy currently operates one Scorpène-class submarine supplied by France and Spain alongside two aging Type 209 boats, with a long-term goal of fielding a four-submarine fleet. Chile has also set a target of developing its own design, construction and maintenance capabilities by 2035.

The official summit agenda centers on modernizing the free trade agreement and cooperation on critical minerals; signing a submarine contract is not on the schedule. However, the overlap between Hanwha Ocean's executive visit and the summit has raised expectations that it could lend momentum to the ongoing negotiations.

A Hanwha Ocean official told the Latin American defense publication Infodefensa that the company is "committed to participating as a long-term strategic partner in Chile's future submarine and frigate programs," adding that its goal is "to contribute not only to vessel construction but also to joint design, technology transfer, shipyard modernization, workforce development and supply chain cooperation."


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