Shipbuilding

President Lee Jae Myung visited the headquarters of HD Hyundai Heavy Industries Co. in Ulsan on Wednesday. He pledged government support for the country's shipbuilding industry. The president also inspected liquefied natural gas carriers under construction for export.

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China handed over its first domestically designed 180,000-cubic-meter liquefied natural gas (LNG) carrier on Sunday at a shipyard in Nantong, Jiangsu Province. The vessel, Celsius Georgetown, has departed for Singapore, according to media reports.

The chief of South Korea's state arms procurement agency cited legality as the main reason for changing the bidding process on a multi-trillion-won contract to build advanced homegrown destroyers. The Defense Project Promotion Committee unanimously decided to select the winner for the estimated 7 trillion-won ($5 billion) project to build six destroyers through competitive bidding. The landmark initiative, delayed by a legal feud between rival shipbuilders, aims for delivery to the Navy by the end of 2032.

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U.S. President Donald Trump announced on Monday that South Korea's Hanwha will partner with the U.S. Navy to build new frigate warships. Speaking at a press conference in Mar-a-Lago, he also unveiled plans for a new "Trump-class" of battleships as part of a "Golden Fleet." The move aligns with South Korea's efforts to deepen shipbuilding ties with the United States.

NVL Egypt, a subsidiary of the German shipbuilding group NVL, has begun production of ten PV43-M naval vessels in cooperation with Alexandria Shipyard. Production started on schedule in September, with the vessels designed for surveillance, reconnaissance, and protecting critical maritime infrastructure. The ships will feature advanced weapon systems developed with leading European defence companies.

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At the Asia-Pacific Economic Cooperation (APEC) summit, Presidents Lee Jae Myung of South Korea and Donald Trump of the United States finalized details of a $350 billion Korean investment pledge. The deal includes tariff cuts on automobiles and shipbuilding cooperation, along with U.S. approval for South Korea to build nuclear-powered submarines. It marks a new chapter in bilateral industrial and economic ties.