eMARINE to maintain ASWTT centre simulator for Korean Navy

The Republic of Korea Navy (ROK Navy) has awarded a new contract to maritime information and communications technology provider eMARINE Global for the maintenance of the navy’s anti-submarine war tactical training (ASWTT) simulator at Jinhae Naval Base.

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South Korea’s defense budget is currently valued at $48.3 billion after experiencing impressive and robust annual growth of 10.5% in 2022. Over the forecast period, South Korean defense expenditure is anticipated to register a strong CAGR of 6.3% over 2023-27 and reach $66.2 billion by 2027. The country’s acquisition budget, which includes research and development (R&D) funding, is also anticipated to register significant growth, projected to reach $21.6 billion in 2027, seeing significant rise from the anticipated $17 billion in 2023. South Korean defense spending is continuing to be fueled by the country’s hostile relationship with North Korea, coupled with the need to develop its own domestic industry. If you want to strategize successfully off this growing market, it is important to be fully informed. This report’s key findings include:

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The deal is valued at KRW754,000,000 ($706,000) and is the Navy’s first maintenance contract to be outsourced to a local company.

The technology was originally installed by Italy-based simulator manufacturer ECA Sindel ten years ago.

eMARINE Global has signed an agreement with ECA Sindel to provide technical support for the ASWTT simulator as part of the maintenance service.

“With this latest award for the ASWTT simulator maintenance, we believe we are in a favourable position to win additional training simulator supply and maintenance contracts in 2018.”

eMARINE Global chairman and chief executive officer Dr Ung Gyu Kim said: “We are pleased to strengthen our relationship with the navy with this latest contract award.

“We have been providing maintenance services for the Navy’s electronic chart (ECDIS) systems under contracts awarded in each of the past eight years.