Gyeongju: HD Hyundai Co., South Korea's leading shipbuilding conglomerate, is committed to playing a key role in the Seoul-Washington partnership aimed at revitalizing the U.S. naval and commercial shipbuilding industries, its chairman said Monday. "We intend to actively participate in the U.S.' new maritime vision and policies, particularly the initiatives for maritime dominance and prosperity, including the construction of a next-generation fleet spearheaded by the U.S. Navy and the rebuilding of shipyards," Chairman Chung Ki-sun stated in a keynote speech at the Future Tech Forum in Gyeongju, the host city of this week's Asia-Pacific Economic Cooperation (APEC) CEO Summit.
According to Yonhap News Agency, the forum was part of an official business event of the APEC gathering in South Korea. Chung's remarks highlighted the Korea-U.S. collaboration in shipbuilding, encapsulated by the slogan Make American Shipbuilding Great Again (MASGA), marking his first official appearance as HD Hyundai chairman after his promotion from senior vice chairman on Oct. 17. HD Hyundai is currently exploring plans to enter the U.S. market, including potential equity participation and acquisitions of local shipyards.
In efforts to strengthen bilateral cooperation in shipbuilding, HD Hyundai signed a strategic partnership agreement in April with Huntington Ingalls Industries (HII), the largest defense shipbuilder in the United States, to collaborate on technology and jointly build naval vessels. "We are ready to join the journey of innovation as a steadfast partner in ushering in America's new maritime renaissance era," Chung said. "We aim to move forward together for the security and development of both nations."
Approximately 600 officials from governments, the military, and the shipbuilding industry, including representatives from HII and Anduril Industries Inc., attended the tech forum hosted by HD Hyundai, which seeks to bolster global business partnerships. The company announced plans to accelerate cooperation with U.S. defense firm Anduril to develop unmanned surface vessels (USVs), following a memorandum of agreement (MOA) signed in August.
With HII, HD Hyundai intends to expand joint research and development and technology exchanges in advanced fields such as robotics and artificial intelligence (AI), while also pursuing cooperation in establishing a comprehensive lifecycle support and maintenance system for naval assets. Through an MOA signed Sunday, HD Hyundai and HII agreed to collaborate on the design and construction of the U.S. Navy's next-generation logistics support ship.