The Philippine Department of National Defense (DND) has signed a PHP28 billion (USD551 million) contract with Hyundai Heavy Industries (HHI) for two new corvettes.
The contract was announced by the department via an official statement on 28 December.
It was signed by Philippines Secretary of National Defense Delfin Lorenzana and senior HHI officials via a virtual ceremony on the same day.
The DND has not disclosed further details of the new corvette type that will be delivered to the Philippine Navy, adding only that the vessels are capable of anti-ship, anti-submarine, and anti-air operations.
However, HHI is understood to have offered the DND a derivative of its HDC-3100 concept, which has an overall length of 114 m.
It displaces about 3,100 tonnes and has a top speed of about 25 kt, according to product literature published by HHI.
The vessel can be equipped with up to 16 vertical launch system cells in the forward section, a 76 mm naval gun in the primary position, a close-in weapon system in the aft section, and up to eight anti-ship missile launchers amidships.
This contract is the second major defence procurement between HHI and the Philippine government. In 2016 the DND signed a PHP15.7 billion contract for two new frigates with the company.
The frigates, which derive their design from the Republic of Korea Navy's Incheon (FFX-I) class, are now in service with the Philippine Navy as the Jose Rizal class.
Once received, the new corvettes will likely be inducted with the Philippine Navy's Offshore Combat Force.
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