Australia shortlisted Germany's ThyssenKrupp Marine Systems and Japan's Mitsubishi Heavy Industries Ltd.for a project worth at least 11 billion Australian dollar ($7.6 billion) to build up to 11 more heavily armed lighter frigates to replace the aging fleet, according to Australian Broadcasting Corp.(ABC) News.“Cabinet's National Security Committee (NSC) had this week chosen Japan's upgraded Mogami 30FFM and Germany's MEKO A-200 as the final two designs ahead of a final selection next year,” ABC News quoted multiple sources as saying.
It was hard for South Korea to support both HD Hyundai and Hanwha Ocean, which are in legal battle over the country’s largest warship project worth 7.8 trillion won, while Thyssenkrupp and Mitsubishi worked with their governments for the Australian deal, according to the sources.“The Australian government wondered why South Korea was the only country with two companies in the running for the contract,” one of the sources said.
HD Hyundai Heavy Industries Co.and Hanwha Ocean Co.failed to win a $7.3 billion deal to build frigates for the Australian Navy, industry sources and foreign media said on Friday, dealing a blow to the South Korean shipbuilding giants seeking a new growth engine in the global warship market.
The story "Korea’s HD Hyundai, Hanwha fail to win $7.3 bn Australian navy deal" has 660 words across 22 sentences, which will take approximately 3 - 6 minutes for the average person to read.
Which news outlet covered this story?
The story "Korea’s HD Hyundai, Hanwha fail to win $7.3 bn Australian navy deal" was covered 1 hours ago by Korea Economic Daily, a news publisher based in South Korea.
How trustworthy is 'Korea Economic Daily' news outlet?
Korea Economic Daily is a fully independent (privately-owned) news outlet established in 1964 that covers mostly economy news.
The outlet is headquartered in South Korea and publishes an average of 14 news stories per day.
It's most recent story was published ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
