As the United States pursues the revitalization of its shipbuilding industry, up to 448 ships are expected to be ordered by 2037. Analysts have suggested that the Korean shipbuilding industry should secure business opportunities in the fields of liquefied natural gas (LNG) carriers, naval vessels, and next-generation ships, and expand strategic cooperation between South Korea and the United States.
On the 19th, the Federation of Korean Industries (FKI) announced the results of a study commissioned to Ryu Mincheol, a professor at Korea Maritime and Ocean University, and presented policy tasks for South Korea in response to the U.S. government's shipbuilding revitalization policy.
In April, through the "Restoring Maritime Dominance" executive order, the United States announced plans to establish a production base to meet the demand for strategic commercial vessels, naval ships, and LNG carriers, and also signaled sanctions against Chinese-built ships and equipment. The Office of the United States Trade Representative has already announced plans to impose additional fees on ships owned by Chinese shipping companies and shipowners when they enter U.S. ports.
The report estimates that, including the Shipyard and Port Infrastructure Enhancement Act, new naval shipbuilding plans, and the icebreaker procurement policy, more than 400 ships?including commercial vessels, naval ships, and special-purpose vessels?will be built by 2037.
In the LNG carrier sector, since the United States has limited domestic shipbuilding capacity, there are opportunities for Korean shipyards to seek cooperation based on their technological capabilities and production capacity. Most strategic commercial vessels are mid-sized, and it was also assessed that domestic mid-sized shipyards could consider bidding for these orders.
It is structurally difficult for South Korea to directly build new U.S. Navy combat ships due to their advanced weapon systems. The report suggests that South Korea should first build trust by focusing on maintenance, repair, and operations (MRO), and then gradually expand cooperation to include upgrades and parts-level collaboration. The report also analyzed that there is relatively high potential for cooperation in the areas of transport/support ships and amphibious assault ships.
For next-generation ships, the report proposed the establishment of a joint South Korea-U.S. fund to support the development of advanced technology-based vessels such as carbon dioxide carriers, liquid hydrogen carriers, and autonomous ships.
The report stated that, when acquiring U.S. shipyards or investing in equipment, it is necessary to utilize subsidies and prepare plans for site and infrastructure improvements. It also emphasized the need to strengthen domestic shipbuilding workforce training systems to address potential imbalances in labor supply and demand.
The report also included measures to utilize retired Korean technical experts at U.S. shipyards and to promote technology transfer by involving local subsidiary employees in the construction of ships in Korea.
Additionally, the report suggested that easing regulations on shipbuilding technology exports, except for core technologies, should be considered as a policy task.
Ryu Mincheol, professor at Korea Maritime and Ocean University, said, "In the process of pursuing local projects, it is essential to establish joint strategies with the United States and thoroughly analyze risks arising from policy changes."
Lee Sangho, head of the Economic and Industrial Division at the Federation of Korean Industries, stated, "The revitalization of the U.S. shipbuilding industry is a new opportunity for the Korean shipbuilding industry to secure global competitiveness," and added, "The government and the National Assembly should expand support for autonomous ships and hydrogen-powered vessels, and back productivity innovation based on smart shipyards."
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