Hanwha Ocean Co., a major South Korean defense and shipbuilding company, said Thursday it has secured a deal from the U.S. Navy for the maintenance, repair and overhaul (MRO) service of a 40,000-ton logistics support vessel. Under the contract, the U.S. Navy's logistics support ship will receive regular maintenance at Hanwha Ocean's Geoje shipyard in South Korea, where it will undergo comprehensive maintenance and inspection, the company said. According to Hanwha Ocean, the deal marks the first time for a South Korean shipyard in winning a regular overhaul deal for a U.S. Navy vessel. Hanwha Ocean said the deal will help the company enter the U.S. MRO market involving the American Navy, which is valued at approximately 20 trillion won (US$15 billion) annually. Source: Yonhap News Agency