Hanwha Ocean (ex-DSME)

Hanwha Ocean Co., Ltd. formerly known as Daewoo Shipbuilding & Marine Engineering (DSME), is one of the «Big Three» shipbuilders of South Korea, along with Hyundai and Samsung.

In December 2022, Hanwha Group announced that it would acquire a controlling 49.3 percent stake in Daewoo Shipbuilding & Marine Engineering worth US$1.5 billion. The deal was supported by the Korea Development Bank in an attempt to improve competition in the Korean shipbuilding industry.

In July 2024, Hanwha Ocean became the second Korean shipbuilder after Hyundai Heavy Industries to sign a master ship repair agreement (MSRA) with Naval Supply Systems Command (NAVSUP), qualifying it to participate in the U.S. Navy's MRO business.

On 29 August 2024, Hanwha Ocean won an MRO contract for the USNS Wally Schirra, the US Navy's auxiliary ship, and 3 months of maintenance work will take place at the Geoje Shipyard from 2 September 2024.