Croatia's Iskra Shipyard and South Korea's HD Hyundai Heavy Industries (HHI) have signed a cooperation agreement covering defense and commercial shipbuilding. The partnership aims to exchange knowledge and technology, develop local Croatian suppliers, and strengthen the competitiveness of the shipbuilding sector in Croatia and across Europe. The agreement's scope includes future construction projects for the Croatian Navy, notably the country's planned new multi-purpose frigate program, along with other military, commercial, and specialized vessels. As part of the cooperation, the two companies will combine Iskra Shipyard's production and engineering capabilities with HHI's experience building naval ships, commercial vessels, and offshore facilities. They also intend to establish an industrial network connecting research and educational institutions, technology firms, domestic equipment manufacturers, and shipyards. The tie-up follows an announcement in January 2025 by Croatia's Ministry of Foreign Affairs of a procurement process for new frigates, which officials said would strengthen the navy's operational capabilities and help protect the country's interests in the Adriatic Sea. The agreement positions HHI to extend its naval and commercial shipbuilding footprint into Europe while giving Iskra Shipyard access to advanced technology and expertise to support Croatia's domestic defense shipbuilding ambitions.
