Washington: Samsung Heavy Industries Co., a major South Korean shipbuilder, announced its plans to pursue extensive collaboration with the U.S. shipbuilding industry to enhance bilateral cooperation between South Korea and the United States.
According to Yonhap News Agency, the announcement coincided with the launch of a shipbuilding cooperation center in Washington by South Korea and the United States. This center aims to facilitate a planned $150 billion investment in the U.S. shipbuilding sector, as part of a bilateral trade and investment agreement reached last year.
Senior officials and industry leaders from both nations participated in the event marking the opening of the Korea-U.S. Shipbuilding Partnership Center (KUSPC). The center is intended to advance the "Make American Shipbuilding Great Again (MASGA)" initiative, which seeks to revitalize America's shipbuilding industry.
Samsung Heavy Industries CEO Choi Sung-an highlighted the significance of the event, stating, "The opening ceremony today marks a new milestone for the Korea-U.S. shipbuilding cooperation project. We will do our best to usher in a renaissance for the shipbuilding and marine industries of both countries, leveraging Samsung Heavy Industries' technological capabilities."
The partnership has already produced tangible outcomes. Samsung Heavy Industries and Conrad Shipyard received approval in principle from the American Bureau of Shipping for the basic design of a 12,000-cubic-meter liquefied natural gas (LNG) bunkering vessel they are jointly developing. This approval signifies the latest achievement since the two companies formed a partnership in December to develop LNG bunkering vessels.
Additionally, Samsung Heavy Industries signed a strategic business cooperation agreement with Saronic Technologies, a U.S. startup specializing in autonomous surface vessels. The South Korean shipbuilder also inked an agreement with Vigor Marine Group, its U.S. partner for maintenance, repair, and overhaul, to establish a training center in the northwestern U.S. The center will focus on training welders and painters essential for shipbuilding and repairs, utilizing Samsung Heavy Industries' expertise and technologies.