South Korea and the United States launched the Korea-U.S. Shipbuilding Partnership Center in Washington on July 23. The center will facilitate Seoul's planned $150 billion investment in the U.S. shipbuilding sector under last year's bilateral trade deal.
Senior officials and industry leaders from both countries attended the event marking the opening of the Korea-U.S. Shipbuilding Partnership Center, a platform to advance the Make American Shipbuilding Great Again initiative.
Industry Minister Kim Jung-kwan called the center a symbol of South Korea's strong commitment. "Korea strongly supports President Trump's maritime action plan," he said. "We are ready to work side by side with the U.S."
Commerce Secretary Howard Lutnick stressed the need for tangible results. "The center is not an outcome. It is the most important work that produces the outcome of how many ships that are built," he said. He pledged to remove regulatory roadblocks for Korean firms.
The two sides signed 15 memorandums of understanding on Team Korea, supply chain cooperation, workforce training and joint technology development. Samsung Heavy Industries announced partnerships on LNG bunkering vessels, autonomous surface vessels and a training center.
