MANILA, Philippines — The Department of National Defense (DND) and Korean shipbuilder Hyundai Heavy Industries (HHI) have signed a memorandum of understanding ahead of the acquisition of two brand new corvettes for the Philippine Navy. The Navy chief also pointed out that the corvettes would be worth P14 billion each, as compared to the two frigates worth P8 billion each. The Philippine government signed a deal with HHI for the construction of two frigates worth P16 billion in 2016. Another Pohang-class corvetteThe Philippine Navy is also looking forward to getting another Pohang-class corvette from South Korea. ADVERTISEMENTThe Republic of Korea Navy will retire one of its Pohang-class ships before the year ends, and Empedrad hopes it would go to the Philippine Navy.

Source: Philippine Daily Inquirer November 12, 2019 08:20 UTC