SEOUL, SOUTH KOREA , May 13, 2019 (GLOBE NEWSWIRE) -- eMARINE Global, Inc. (OTC: EMRN), a leading provider of information and communications technology (ICT) for the maritime industry, signed a contract with Hanjin Heavy Industries & Construction (HHIC) to supply the Company’s Warship Electronic Chart Display & Information System (WECDIS) to two ROK Navy multi-purpose training boats (MTBs).
This latest contract award is for the third and fourth MTBs in the series. Previously, the Company was awarded and installed its WECDIS technology on the first two MTBs, and both boats are now in training operations. The current contract is valued at 100 million won ($85,000 USD).
HHIC is one of the top yards for specialty ships, including naval vessels.
“We continue to dominate the Korean defense market,” stated Ung Gyu Kim, Chairman and CEO. “eMARINE currently provides technology maintenance services for 215 ROK Navy ships under an annual contract agreement, and we continue to strive to strengthen our leading position in servicing the Navy and other key customers.”
In addition to its contract award from HHIC, eMARINE also secured a follow-on contract with Daewoo Shipbuilding and Marine Engineering (DSME), the leading submarine shipbuilder, for the third and fourth instillations of its e-Navigator Integrated Bridge System (IBS) to Auxiliary Submarine Rescue Ship (ASR). Construction is currently underway at the DSME yards.
Founded in 2001 and based in South Korea, eMARINE Global is working with a growing base of marquee customers to achieve maritime ICT convergence through fully integrated products and services, offering state-of-the-art e-navigation, marine Internet of Things (IoT), and marine big data solutions, primarily in Korea with near-term expansion into U.S. and Chinese markets.
eMARINE Global’s customer base includes Hyundai Heavy Industries, Samsung Heavy Industries, and SAAB.
About eMARINE Global, Inc.
eMARINE is a provider of information and communications technology in the maritime industry. Specifically, eMARINE provides solutions for collection, integration and display of maritime information abroad and ashore by electronic means to enhance berth to berth navigation and related services. These solutions provide the most efficient means to secure the safety of life at sea and to protect the marine environment. All products and services are offered through subscription, installation, updates and/or maintenance contracts.
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Contact:
Dave Gentry
RedChip Companies
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dave@redchip.com