HD Hyundai Accelerates Entry into US Market with Shipbuilding Cooperation Forum

HD Hyundai has laid the foundation for a Korea-US shipbuilding and marine alliance as it accelerates its entry into the US market.

From June 23 to 25, HD Hyundai hosted the 'Korea-US Shipbuilding Cooperation Expert Forum,' attended by around 40 professors from leading shipbuilding and marine engineering departments of major universities in Korea and the United States. Co-hosted by HD Hyundai, Seoul National University, and the Ministry of Trade, Industry and Energy, this forum was the first event since the launch of the new administration where experts from both countries gathered to discuss practical avenues for cooperation. The tangible results achieved through private-sector efforts have drawn significant attention within the industry.

At the 'Korea-US Shipbuilding Cooperation Expert Forum' held on the 24th, key participants from both countries are taking a commemorative photo. The photo shows (from left) Juhan Kim, Vice President for Research at Seoul National University; Li P. Sung, Professor at the US Naval Academy; Seungryul Lee, Director General of Industrial Policy at the Ministry of Trade, Industry and Energy; Kiseon Jung, Senior Vice Chairman of HD Hyundai; David J. Singer, Professor at the University of Michigan; Jonggye Shin, Technical Advisor at HD Hyundai Heavy Industries; Hoseop Jung, President of the Republic of Korea Navy Association (former Chief of Naval Operations); and Andrew Gately, Commercial Attach? at the US Embassy in Korea, posing for a commemorative photo. (Photo by HD Hyundai)

Previously, HD Hyundai had highly praised the US government's commitment and efforts to revitalize its shipbuilding industry and decided to join forces with institutions such as Seoul National University and the University of Michigan to foster shipbuilding talent in support of the US shipbuilding industry's revival and efforts to strengthen national security.

On June 23, eleven professors from the shipbuilding and marine engineering departments of the University of Michigan, Massachusetts Institute of Technology (MIT), Virginia Tech, Stevens Institute of Technology, San Diego State University, and the US Naval Academy visited the HD Hyundai Heavy Industries headquarters in Ulsan. There, they toured the commercial and special shipyards to observe the shipbuilding process firsthand. From June 24 to 25, about 40 shipbuilding and marine experts from both countries gathered at the HD Hyundai Global R&D Center and Seoul National University to discuss the need for educational and research cooperation between Korea and the US, as well as joint education and talent development strategies in the shipbuilding and marine sectors. They explored practical measures to establish a Korea-US shipbuilding and marine alliance.

On June 19, HD Hyundai signed a 'Strategic and Comprehensive Partnership for US Merchant Shipbuilding' with Edison Chouest Offshore (ECO), a US shipbuilding group that owns five merchant shipyards in the country. ECO has built and operates 300 offshore support vessels (OSVs) and is recognized for its global competitiveness in the field.

Together with ECO, HD Hyundai plans to jointly build mid-sized container carriers at ECO shipyards by 2028. To achieve this, HD Hyundai will provide ship design, procurement agency services for equipment, and construction technology support, as well as manufacture and supply some of the ship blocks. The company will also invest in technological assets. Going forward, HD Hyundai intends to expand its partnership with ECO to cover various types of vessels and extend cooperation to the port crane sector, which is critical for national security.

In July of last year, HD Hyundai became the first Korean shipbuilder to obtain the US Navy's Master Ship Repair Agreement (MSRA) qualification, and since this year, has officially begun participating in naval MRO projects commissioned by the US Naval Supply Systems Command.

Additionally, in April of this year, HD Hyundai signed a memorandum of understanding (MOU) with Huntington Ingalls, the leading US shipbuilder in the marine and defense sectors, to accelerate cooperation in naval and merchant shipbuilding, thereby laying the groundwork for a strategic Korea-US partnership in marine and defense. Furthermore, HD Hyundai also signed an MOU with Fairbanks Morse Defense (FMD), a key US defense equipment supplier, for supply chain and export cooperation in the naval sector, establishing a foundation for participating in the US naval supply chain.