Hanwha Ocean of South Korea has entered into a partnership with Greece's ONEX Elefsis Shipyards and ONEX Neorion Shipyards, a move that could reshape naval shipbuilding dynamics in Europe. While the agreement strengthens Hanwha’s position in Greek and European naval tenders, industry observers note the significance of an emerging US–South Korea–Greece trilateral shipbuilding framework, with indications of US involvement. This development is seen as a key market entry for Hanwha and a signal to investors in South Korean defense companies.