Foreign Minister Visits Ulsan Shipyard with Acting U.S. Ambassador to Prepare for "MASGA" Project

National Assembly Foreign Affairs Committee Members Join the Visit
"Korea-U.S. Alliance Evolving into a Comprehensive Strategic Partnership Encompassing Security, Economy, and Technology"

On August 13, Minister of Foreign Affairs Cho Hyun visited a shipbuilding site in Ulsan with Joseph Yun, Acting U.S. Ambassador to South Korea, to discuss ways to enhance Korea-U.S. cooperation. This visit comes as the two countries are preparing to launch a large-scale shipbuilding cooperation project known as "MASGA" (Make American Shipbuilding Great Again).

That morning, Minister Cho and Acting Ambassador Yun toured the HD Hyundai shipyard in Ulsan, inspecting ship construction and major facilities. They were accompanied by Kim Seokki, Chair of the National Assembly Foreign Affairs and Unification Committee; Kim Kihyun, Chair of the APEC Summit Support Special Committee; and lawmakers Kim Geon, Kim Sangwook, and Kim Taeseon.

Yonhap News

The two countries had previously agreed on the MASGA project during earlier trade negotiations. The MASGA project is a large-scale cooperation program in which the Korean government and shipbuilding industry will participate to help revitalize the U.S. shipbuilding sector. The related investment is estimated at 150 billion dollars (approximately 207 trillion won).

This visit was organized to directly hear from businesses at the site following the conclusion of Korea-U.S. tariff negotiations and HD Hyundai's recent contract to provide maintenance, repair, and overhaul (MRO) services for U.S. Navy logistics support vessels. The aim was to explore opportunities to further expand bilateral cooperation in the shipbuilding industry.

Minister Cho stated, "The Korea-U.S. alliance is evolving into a comprehensive strategic partnership that encompasses not only security but also economic and advanced technology sectors. As shipbuilding cooperation is emerging as one of the key pillars for the development of our alliance, the Ministry of Foreign Affairs will actively consult with the U.S. side, together with relevant ministries and our industry, to ensure that Korea-U.S. shipbuilding cooperation leads to mutually beneficial outcomes."