Renault Group Global Sales Rise 3.2% in 2025 on Strong International and EV Demand 
Asian Currencies Trade Flat as Dollar Weakens in Thin New Year Trading 
South Korea Factory Activity Returns to Growth in December on Export Rebound 
U.S. Stock Futures Slip as Year-End Trading Turns Cautious 
California Attorney General Orders xAI to Halt Illegal Grok Deepfake Imagery 
Federal Reserve Begins Treasury Bill Purchases to Stabilize Reserves and Money Markets 
TSMC Shares Hit Record High as AI Chip Demand Fuels Strong Q4 Earnings 
Boeing Reaches Tentative Labor Deal With SPEEA Workers After Spirit AeroSystems Acquisition 
Proposed Rio Tinto–Glencore Merger Faces China Regulatory Hurdles and Asset Sale Pressure 
Micron to Buy Powerchip Fab for $1.8 Billion, Shares Surge Nearly 10% 
Lululemon Founder Chip Wilson Escalates Proxy Fight to Remove Advent From Board 
BYD Shares Rise in Hong Kong on Reports of Battery Supply Talks With Ford 
Pop Mart Shares Surge in Hong Kong After First Buyback in Nearly Two Years 
China Halts Shipments of Nvidia H200 AI Chips, Forcing Suppliers to Pause Production 
Syrah Resources and Tesla Extend Deadline on Graphite Supply Dispute to March 
Asian Markets Slip as Precious Metals Cool, Geopolitical Tensions Weigh on Sentiment 
U.S. Moves to Expand Chevron License and Control Venezuelan Oil Sales 
Hyundai Heavy Industries has secured an order from the Philippine Department of National Defense. The contract is for the delivery of six patrol vessels for the Philippine Navy.
According to The Korea Herald, the cost of the deal is $573 million, and it is for Hyundai Heavy Industries to build and deliver 2,400 metric-ton Offshore Patrol Vessels for the said executive department of the Philippine government responsible for guarding against external and internal threats to peace and security in the country.
It was revealed on Monday, June 27, that Hyundai Heavy will be constructing the ordered OPVs at the company’s shipyard located in Dong-gu, Ulsan. The patrol vessels are expected to be built by 2028.
Based on the reports, each of the Philippine Navy vessels is going to be fitted with a 76-millimeter main gun, a helideck for a helicopter and autonomous aerial vehicles, and two sets of 30-mm secondary guns. It was designed according to the requirements of the naval warfare service branch of the Armed Forces of the Philippines.
Starting with this OPV order from the Philippine government, Hyundai Heavy is aiming to secure a bigger presence in the OPV market overseas. The Korea Times reported that the signing ceremony for the orders was held at the office of the Philippine Department of National Defense in Manila.
Key officials were present in the event led by the country’s defense secretary Delfin N. Lorenzana. Other attendees were General Andres Centino, Philippine Chief of Staff of the Armed Forces; Vice Commander of the Philippine Navy, Caesar Bernard N. Valencia; President of Korea Shipbuilding and Offshore Engineering (KSOE), Ka Sam Hyun; Business Unit Chief Operating Offer of the HHI Naval & Special Ship, Nam Sang Hoon; and the Republic of Korea’s Ambassador to the Philippines, Kim In Chul.
“I am glad that our strategy, in which we preemptively developed and exported various types of naval vessels by studying global market demand, has come to fruition,” CEO Nam said in a statement. “We will continue to lead the naval ship market by focusing on technological development through intensive investment in R&D, along with business diversification.”
