HJ Heavy Industries will Receive Orders from Southeast Asia for High-Speed ​​Patrol Boats

12 September 2026

The Southeast Asian country mentioned above is described by defense analysts as related to the Philippines (photos: RoK Armed Forces)

[Financial News] HJ Heavy Industries is signaling a rebound in performance by predicting a "double-pull" success in the domestic and international special vessel bidding wars in the second half of this year. Market attention is focused on whether the company can simultaneously secure overseas orders for high-speed patrol boats, following the follow-up contract for the Navy's new high-speed patrol boat (PKMR) this coming November.

According to industry sources on the 25th, as expectations grow domestically for a follow-up contract for the new high-speed patrol boat (PKMR), a key asset for defending the Northern Limit Line (NLL), HJ Heavy Industries is also projected to have a high probability of securing overseas orders for patrol boats in the second half of the year. The domestic PKMR project is reportedly planned for two vessels.

The PKMR (Golden Eagle-B class) is a high-speed patrol vessel referred to as the "spearhead force" in the Navy's coastal combat operations. Its strength lies in its ability to operate in shallow waters, equipped with waterjet propulsion. Notably, it is reported to have significantly improved performance compared to previous models, featuring reinforcements such as a state-of-the-art combat system, anti-missile decoy system, and electronic warfare equipment.

In fact, new features of the first PKMR Black Eagle-B Batch-II ship include the integration of the control and firing functions of the 130mm guided rocket and the 12.7mm remote firing control system into the combat system, and the enhancement of electronic warfare response capabilities through strengthened anti-jamming capabilities.

PKMR is a 33,10 meter in length and 156 tonnes with max speed of 38 knots (photo: RoK Armed Forces)

Southeast Asia orders

Securing overseas orders is also a key factor. The industry believes it is highly likely that the schedules for overseas high-speed boats will align with domestic orders, aiming for November contracts as well. In this scenario, it is assessed that the visibility of second-half earnings could be further enhanced alongside the normalization of sales for specialized vessels. However, the signing of the high-speed landing craft for the United Arab Emirates (UAE), a pipeline project in the Middle East, is expected to be delayed due to the impact of the war with Iran.

"Kim Dae-sung, an analyst at DS Investment & Securities, stated, 'HJ Heavy Industries has an abundant pipeline in terms of special vessel exports. Two orders are currently pending, including a high-speed landing craft for the UAE and a high-speed vessel for Southeast Asia. 

In particular, the high-speed landing craft is the highest-priced model relative to the size HJ Heavy Industries can build, so a significant contribution to earnings is expected upon securing the order.' He added, 'Even excluding the momentum from overseas warship exports, the trend of increasing visibility for securing orders for the U.S. Strategic Merchant Fleet and warships through cooperation with MASGA could continue.'"

(FNNews)