Philadelphia: President Lee Jae Myung arrived in Philadelphia on Tuesday to visit a major shipyard, emphasizing shipbuilding industry cooperation between South Korea and the United States, as U.S. President Donald Trump's administration seeks to revitalize the shipbuilding industry. Lee is set to tour Hanwha Philly Shipyard, acquired by South Korean shipbuilder Hanwha Ocean for 140 billion won (US$100 million) last year, demonstrating Korea's support for Washington's endeavors to reinforce the American shipbuilding sector.
According to Yonhap News Agency, the Philadelphia shipyard marks the first acquisition of a U.S. shipyard by a South Korean shipbuilder. It is a pivotal component of a Seoul-initiated shipbuilding cooperation project called "Make American Shipbuilding Great Again (MASGA)." Accompanied by senior U.S. officials, President Lee will attend a naming ceremony for a "National Security Multi-mission Vessel" built for the U.S. Maritime Administration.
Presidential spokesperson Kang Yu-jung emphasized that the vessel exemplifies Korea-U.S. maritime cooperation and signals a new phase in the alliance, beginning with the MASGA project. This initiative played a crucial role in securing a trade deal between Seoul and Washington last month. The project encompasses constructing new shipyards in the U.S., building American ships, developing shipbuilding personnel, and collaborating on maintenance, repair, and overhaul projects.
During a summit with President Lee, President Trump expressed the U.S.'s intent to purchase Korean ships and collaborate with South Korea to rejuvenate America's shipbuilding sector. "We love their ships," remarked Trump. Before heading to Philadelphia, Lee paid his respects to service members at Arlington National Cemetery near Washington.
After the shipyard visit, President Lee will return to Seoul, wrapping up a six-day trip that included discussions with Japanese Prime Minister Shigeru Ishiba in Tokyo.