Fincantieri S p A : TO SUPPORT DAEWOO IN THE DESIGN OF THE NEW KOREAN AIRCRAFT CARRIERS

FINCANTIERI TO SUPPORT DAEWOO IN THE DESIGN OF THE NEW KOREAN AIRCRAFT CARRIERS

Trieste, June 10, 2021 - During MADEX (International Maritime Defense Industry Exhibition) 2021, one of the main naval exhibitions in the Asia Pacific area, Fincantieri has signed a contract with Daewoo Shipbuilding & Marine Engineering (DSME) to support the Conceptual Design of the new class of aircraft carriers "CVX" for the Navy of the Republic of Korea (South Korea).

The program relating to the first-in-class unit envisages the tender for the Basic Design starting from the second half of 2021, whereas the detail design and construction will begin in the following years.

The signing took place between Jung Woo Sung, Vice President Naval & Special Ship Marketing Division of DSME, and Marco Cerruti, Regional Sales Manager of Fincantieri, in the presence of Federico Failla, Italian Ambassador in Seoul, Vice Admiral Dario Giacomin, Deputy Defense General Secretary - Deputy National Armament Director, and Rear Admiral Antonio Natale, Advisor of the Chief of Staff of the Italian Navy.

Fincantieri will advise DSME based on the expertise gained with the construction of the LHD (Landing Helicopter Dock) "Trieste", which will be delivered next year to the Italian Navy. With this agreement, Fincantieri strengthens its presence in the country, further boosting the relationship with the Republic of Korea. In fact, through its subsidiary Seastema, the Group is cooperating in the construction of eight new Daegu class frigates (FFX-II) for the national Navy, providing SEASNavy, an innovative integrated platform management system (IPMS).

The signing of this contract marks an important step for the Group in establishing a strategic cooperation with DSME. In a country with high naval shipbuilding capabilities, such cooperation might provide significant supplies for this unit and it might be extended to other products or sectors in the future. The "Trieste" unit's design represents the state-of-the-art for this class of ships, in addition to being a well-proven product fully meeting the operational requirements of the Korean Navy. With the LHD, Fincantieri has proven its ability to design and build highly innovative units which represent a benchmark in the international scenario.

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Fincantieri is one of the world's largest shipbuilding groups, the only one active in all high-tech marine industry sectors. It is leader in the construction and transformation of cruise, naval and oil & gas and wind offshore vessels, as well as in the production of systems and component equipment, after-sales services and marine interiors solutions. Thanks to the expertise developed in the management of complex projects, the Group boasts first-class references in infrastructures, and is a reference player in digital technologies and cybersecurity, electronics and advanced systems.

With over 230 years of history and more than 7,000 ships built, Fincantieri maintains its know-how, expertise and management centres in Italy, here employing 10,000 workers and creating around 90,000 jobs, which double worldwide thanks to a production network of 18 shipyards operating in four continents and with over 20,000 employees.

www.fincantieri.com

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