Make American Shipbuilding Great Again

planned

South Korea has pledged US$150 billion to help its shipbuilders enter the US market as part of a new trade deal with Washington. This initiative aims to revive the American shipbuilding industry and counter China's dominance. The investment will primarily consist of loans and guarantees, supporting South Korean companies to build or acquire shipyards in the US and provide talent and technological support. Hanwha Ocean, a South Korean shipbuilder, has already acquired Philly Shipyard in Philadelphia and placed an order for an LNG carrier to be built in the US, with significant construction work still in South Korea. Japan has also finalized a deal to create a US$550 billion fund for US-based shipyard projects.