SEOUL --- Daewoo Shipbuilding & Marine Engineering Co., a major shipbuilder in South Korea, said Friday it has signed a deal worth 1.1 trillion won (US$924 million) to design and build an upgraded submarine for the country's Navy.
Under the deal with the Defense Acquisition Program Administration (DAPA), Daewoo Shipbuilding will deliver a 3,000-ton grade submarine to the South Korean Navy by 2026.
In 2016, Daewoo Shipbuilding won the design contract for the latest submarine under the Changbogo III-class Batch II project and completed it last year. It is currently building two submarines for the Navy following the order it secured in 2012 under the first project.
Daewoo Shipbuilding said the latest submarine will allow longer underwater operations and be faster than the previous version. It plans to use locally developed submarine parts to boost localization. (end of excerpt)
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