US and South Korea Launch $150 Billion Shipbuilding Partnership

The United States and South Korea launched the Korea-US Shipbuilding Partnership Center (KUSPC) in Washington, D.C., on July 23, 2026. The center serves as the primary hub for the Make American Shipbuilding Great Again (MASGA) initiative, facilitating a committed $150 billion South Korean investment to modernize U.S. shipyards, exchange technology, and train workers.

Kim Jung-kwan, South Korea's Industry Minister, pledged to build LNG carriers and naval vessels within the U.S. during the opening ceremony. In response, U.S. Commerce Secretary Howard Lutnick committed the Department of Commerce to removing regulatory barriers to ensure production results. The partnership involves Team Korea, a consortium including HD Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries.

The launch included the signing of 15 memorandums of understanding. Key projects include a joint Global Fast Sealift vessel design by Hanwha Ocean and Leidos Gibbs & Cox, AI-driven marine platforms by HD Korea Shipbuilding & Offshore Engineering and Siemens Digital Industries Software, and autonomous navigation research by Samsung Heavy Industries and Saronic Technologies. Additionally, the American Bureau of Shipping signed agreements with South Korean institutions to develop software-defined vessel platforms and enhance U.S. naval maintenance, repair, and overhaul capabilities through certification and instructor exchanges.