SEOUL, Aug. 27 (Korea Bizwire) — Hanwha Group, South Korea’s chemicals-to-shipbuilding conglomerate, said Wednesday it will invest 7 trillion won (US$5 billion) in its shipyard in the United States, following President Lee Jae Myung’s recent summit with U.S. President Donald Trump. The investment aims to significantly boost production capacity at Hanwha Philly Shipyard in Philadelphia [...]
MASGA initiative aims to deepen Korea-U.S. shipbuilding cooperation under Lee-Trump trade framework SEOUL, August 3 (Korea Bizwire) — South Korea’s leading shipbuilders have formed a joint task force to coordinate participation in the newly announced Korea-U.S. shipbuilding partnership, known as the MASGA (Maritime and Shipbuilding Growth Arrangement) initiative—a $150 billion sector-specific fund unveiled as part [...]
SEOUL, July 31 (Korea Bizwire) — South Korea’s offer to help revitalize the United States’ shipbuilding industry was a key to reaching a tariff deal with the Donald Trump administration, Seoul’s trade minister said Thursday, also highlighting a “key role” U.S. Secretary of Commerce Howard Lutnick played in securing the last-minute deal. “I think the [...]