02 January 2022, Seoul - Closing a productive year in the effort towards realizing the Philippine Defense Modernization Program, the Embassy of the Philippines led by Ambassador Theresa Dizon-De Vega and Defense Attache Col. Enriqueto Deocadez joined the virtual and on-site signing ceremony of the PHP28-billion contract with South Korean shipbuilder Hyundai Heavy Industries (HHI) for the acquisition of two brand-new corvettes for the Philippine Navy on 28 December 2021. The two brand-new corvettes are capable of conducting anti-ship, anti-submarine, and anti-air warfare missions.

The Embassy joins the Department of National Defense in celebrating the timely signing of the PHP28 billion PN Corvette Lot 1 Acquisition Project contract before the end of 2021. These new acquisitions are a key capital asset for the Philippine Navy and a testament to robust PH-ROK defense cooperation despite the challenges of the ongoing pandemic. The signing of the Corvette Lot 1 Acquisition Project with HHI, the same company which built the Philippines' two Jose Rizal-class guided-missile frigates, will ensure commonality and interoperability, especially in ease of maintenance and repairs. The two ships will also serve as backstops for the two frigates now in commission with the Philippine Navy.

With this signing, the Embassy of the Philippines is pleased to note that the Philippines continues its steady progress towards achieving the defense modernization goals it set in 2016, through the upgrade of military equipment and capacity building of its personnel. END