HD Hyundai Vice Chairman Chung Ki-sun, Hanwha Ocean CEO Kim Hee-cheul highlight their readiness to aid US shipbuilding revival plan
Leaders of Korea's two major shipbuilders, HD Hyundai and Hanwha Ocean, met with US Trade Representative Jamieson Greer to discuss potential cooperation, as the US seeks to revitalize its shipbuilding industry.
During the meeting with Greer on Friday, HD Hyundai Vice Chairman Chung Ki-sun talked about the company's ongoing collaboration with US defense shipbuilder Huntington Ingalls Industries. Emphasizing the growing need for closer industrial cooperation between the two countries, he proposed concrete areas of cooperation, including joint technology development, shipbuilding cooperation and skilled workforce training programs.
Chung also introduced HD Hyundai Samho, an affiliate of the shipbuilding conglomerate, and its crane manufacturing capabilities.
Additionally, he addressed the dominance of Chinese port cranes in the US market, proposing the need to strengthen cooperation between the two countries to diversify and stabilize the equipment supply chain in the US.
“We deeply appreciate the United States’ commitment to rebuilding its shipbuilding industry,” said Chung. “HD Hyundai stands fully prepared and willing to contribute wherever our capabilities are needed.”
According to HD Hyundai, the meeting marked the first official talk for the Korean shipbuilding industry with the top US trade official since the second Trump administration took office in January this year.
Later the same day, Hanwha Ocean CEO Kim Hee-cheul met with Greer to describe the company’s strategy for strengthening its competitiveness. In particular, the discussion focused on expanding its production base in the US and transferring key technologies to its US facility, the company said.
According to Hanwha Ocean, it plans to apply its smart production system, currently in operation at its Geoje shipyard in South Gyeongsang Province, to Philly Shipyard in Philadelphia, which it acquired last year in a $100 million deal. The company also aims to secure an additional shipbuilding base in the country.
“Hanwha Ocean is committed to becoming a strategic partner to the US in reviving its shipbuilding industry, not only through technology transfer but also by building a production base,” Kim said. “With our proven technology and smart production system, we will continue to deliver meaningful collaborative outcomes (with local industry).”
As the US works to rebuild its declining shipbuilding industry, which is considered vital to both economic security and national defense, it has shown increased interest in partnering with allies like South Korea and Japan, which possess advanced shipbuilding capabilities.
In April, US Navy Secretary John Phelan visited the shipyards of HD Hyundai and Hanwha Ocean during a trip to Korea. There he met with senior executives of the companies, including Chung and Kim Dong-kwan, vice chair of Hanwha Group, to explore potential avenues for cooperation.
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