Jeju Island: The chief executive officers of South Korea's major shipbuilders, HD Hyundai and Hanwha Ocean Co., engaged in discussions with U.S. Trade Representative Jamieson Greer to explore potential cooperation in the shipbuilding sector. The companies announced these meetings on Friday, highlighting a significant step towards strengthening ties between the U.S. and South Korea in this industry.
According to Yonhap News Agency, HD Hyundai CEO Chung Ki-sun and Hanwha Ocean CEO Kim Hee-cheul held separate discussions with Greer during the Asia-Pacific Economic Cooperation (APEC) trade ministers' meeting on Jeju Island, which took place from Thursday to Friday. These discussions marked the first official dialogue between the USTR and South Korea's shipbuilding industry, indicating a promising start to potential collaboration.
During the meetings, Chung emphasized the importance of enhancing bilateral cooperation through joint technology development, process collaboration, and workforce training programs, as stated in HD Hyundai's press release. Chung expressed appreciation for the United States' efforts to revitalize its shipbuilding industry and affirmed HD Hyundai's readiness to contribute its expertise wherever necessary.
Chung also addressed concerns regarding the dominance of Chinese cranes in U.S. ports by introducing HD Hyundai Samho Heavy Industries Co., an affiliate with crane manufacturing capabilities. He stressed the need for diversifying the U.S. port equipment supply chain through closer U.S.-Korea cooperation. In addition to his role as CEO, Chung serves as executive vice chairman of HD Hyundai, a leading shipbuilding conglomerate in South Korea.
Hanwha Ocean CEO Kim Hee-cheul also discussed measures to enhance strategic cooperation with Greer. These measures include implementing smart production systems and transferring advanced shipbuilding technologies. Hanwha Ocean plans to apply its smart production system, currently utilized at its Geoje shipyard, to Philly Shipyard, which it acquired in the U.S. last year. The company is considering constructing a new shipyard in the U.S. to expand its production capacity.
Kim stated that Hanwha Ocean aims to become a strategic partner in revitalizing the U.S. shipbuilding industry by going beyond technology transfer and developing production infrastructure. This ambitious vision highlights the potential for a strengthened partnership between the two nations in the shipbuilding sector.