Foreign Minister Visits Geoje Shipyard: "Expanding Korea-US Shipbuilding Cooperation"

Foreign Minister Cho Taeyeol visited the Hanwha Ocean facility in Geoje, Gyeongnam on the 29th, where he inspected the maintenance, repair, and overhaul (MRO) operations for the US Navy's 7th Fleet replenishment oiler, the Yukon.

Foreign Minister Cho Taeyeol (second from left) is touring the Hanwha Ocean facility located in Geoje, Gyeongnam on the 29th. Ministry of Foreign Affairs

According to the Ministry of Foreign Affairs, this visit was arranged so that the minister could directly observe the site and listen to industry voices, amid the United States' requests for shipbuilding cooperation with Korea since the launch of the Trump administration. After boarding the Yukon, Minister Cho stated, "I was able to witness firsthand the world's top-level MRO and newbuilding capabilities of our shipyards." He continued, "Given that the United States is showing active interest in cooperating with its allies to revitalize its shipbuilding capabilities in the rapidly changing geopolitical environment, expanding Korea-US cooperation in the shipbuilding sector will further elevate security and economic cooperation between our two countries."

Hanwha Ocean explained that it was the first in the domestic industry to acquire the Philly Shipyard in the United States and to win MRO contracts for two US Navy support ships. The company also emphasized that competition in the global shipbuilding market is intensifying, making active government interest and support essential.

Minister Cho stated, "The Ministry of Foreign Affairs will also communicate with relevant ministries and the industry, and actively consult with the US side to ensure that Korea-US shipbuilding cooperation progresses in a way that maximizes opportunities for domestic companies." He particularly stressed, "It is important that shipbuilding cooperation develops in a virtuous cycle within the framework of the Korea-US alliance."

The Ministry of Foreign Affairs added that it will continue to support the overseas bidding and market entry efforts of Korea's shipbuilding industry.