Shipbuilding Industry Welcomes Korea-U.S. Tariff Deal...All-Out Efforts for MASGA Success

Korea Offshore & Shipbuilding Plant Association Issues Statement
"Grateful for the High Evaluation of the Shipbuilding Industry"
"Creating Opportunities in the U.S. and Strengthening Domestic Competitiveness"

The domestic shipbuilding industry has welcomed the final conclusion of tariff negotiations between South Korea and the United States, which was achieved on the occasion of the Korea-U.S. summit. In this agreement, South Korea and the United States pledged an investment and cooperation package worth 350 billion dollars (approximately 500 trillion won), and it is expected that at least 1,500 dollars will be invested in shipbuilding projects in the United States.

On the 30th, the Korea Offshore Plant Association issued an official statement saying, "The Korean shipbuilding industry greatly welcomes the final conclusion of tariff negotiations between the two countries following the Korea-U.S. summit," and added, "We deeply appreciate the government's efforts to achieve such results despite challenging circumstances."

Sangkyun Lee, Chairman of the Korea Offshore Plant Association.

The association stated, "We feel immense pride that the leaders of both countries have highly evaluated our shipbuilding industry," and continued, "We will strive to ensure the success of the MASGA (Make American Shipbuilding Great Again) project through close cooperation with the government." The association further added, "Based on the outcome of these negotiations, our shipbuilding industry will collaborate with American partners in various fields, including shipyard modernization, joint technology development, supply chain cooperation, and workforce training."

The association also said, "While our companies will enter the U.S. market to create new opportunities, we will also make every effort to secure sustainable competitiveness at home by driving productivity innovation at shipyards through the spread of artificial intelligence (AI) and by strengthening the competitiveness of vulnerable equipment sectors."

The shipbuilding industry expects that, with the reduction of tariffs, collaborative projects such as joint ship development, equipment certification systems, and workforce training between South Korea and the United States will accelerate. The association stated, "We look forward to the government's continued interest and support to ensure the successful progress of Korea-U.S. shipbuilding cooperation."