Seoul, April 23 -- HD Hyundai Heavy Industries secured a USD 348.9 million contract from the Swedish Maritime Administration to build an icebreaking vessel, marking the first time a South Korean shipbuilder entered the international icebreaker market. The vessel is scheduled for delivery in 2029 and will operate in the Baltic Sea to provide icebreaking, navigation assistance, towing, and ice management services, according to a report by The Korea Herald.

The company stated that it was selected for the project based on its price competitiveness, delivery timeline, and technological capabilities. This selection allowed the firm to prevail over established shipbuilders from Finland and Norway, countries that traditionally dominated the spec...