South Korean yards pledge fealty in Trump Asia tour
Hanwha Philly Shipyard would be among the beneficiaries of a South Korea deal (Source: Hanwha Philly)
President Donald Trump has secured investment pledges from South Korea’s three largest shipbuilders – HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean – as part of a USD 150 billion trade and security deal with President Lee Jae Myung. The White House said the commitments will boost US shipbuilding capacity, a central goal of Trump’s economic agenda.
The agreement also formalises a deal for Korea Gas Corporation (Kogas) to buy 3.3 million tonnes of liquid natural gas from the US annually, deepening energy and industrial ties. The shipbuilding pledges follow growing cooperation between HD Hyundai and US firm Huntington Ingalls Industries (HII), which recently agreed to co-develop US Navy auxiliary ships.
Analysts said the collaboration highlights America’s reliance on Indo-Pacific allies to rebuild its maritime base, critical for both trade and defence. “We’ve lost the commercial foundation that underpins maritime power,” a former US National Security Council official warned.
The move comes amid trade tensions with China, which has sanctioned Hanwha’s US subsidiaries. Meanwhile, US lawmakers are pushing the bipartisan “SHIPS for America Act” to reinvest port-fee revenues in domestic yards. Senator Todd Young said South Korea’s expertise will be vital but added: “America First does not mean America alone.”
