Government Officials from the US and South Korea Discuss Shipbuilding Cooperation at HD Hyundai Headquarters
Government officials from the United States and South Korea have visited HD Hyundai’s headquarters in Ulsan to discuss ways to strengthen bilateral cooperation in the shipbuilding sector.
According to HD Hyundai’s press release from August 13, Minister of Foreign Affairs Cho Hyun, acting U.S. Ambassador to Korea Joseph Yun, and President and CEO of HD Hyundai Heavy Industries (HD HHI) Lee Sang-kyun met at the shipbuilder’s headquarters in Ulsan ahead of the Korea-U.S. summit scheduled for the end of the month.
Lee presented HD HHI’s shipbuilding capabilities and technologies and outlined the company’s future vision.
The officials then toured the shipyard, reviewing potential institutional support measures for the “Make American Shipbuilding Great Again” (MASGA) project.
HD Hyundai Heavy Industries President Lee stated: “With the MASGA project emerging as a new symbol of the Korea-U.S. alliance, HD Hyundai is committed to playing our part and providing support for its success. We look forward to advancing the interests of both nations and the future of the shipbuilding industry.”
As part of efforts to support the MASGA project, HD Hyundai has been pursuing various collaborations with the United States. In June this year, the company hosted the Korea-U.S. Shipbuilding Leaders Forum, spearheading the formation of a shipbuilding and maritime alliance between the two countries. In July last year, it also launched a joint initiative with Seoul National University and the University of Michigan to cultivate future shipbuilding talent, supporting U.S. shipbuilding revitalization and bolstering security.
In May 2025, the two countries’ shipbuilding industries held talks to explore opportunities for vessel construction cooperation in what was hailed as a “historic moment”.
Chung Kisun, Executive Vice Chairman of HD Hyundai, met up with USTR Ambassador Jamieson Greer, seeking to find the “most favorable” pathways for the United States and South Korea to collaborate amid tumultuous geopolitical waters.
In addition, South Korea recently pledged $150 billion into a dedicated United States shipbuilding rejuvenation fund, as part of a much larger, $350 billion bilateral trade agreement with Washington.
The deal will aim to breathe new life into the American vessel construction industry, in return for a lower tariff rate of 15%.
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