Shipbuilding cooperation with U.S. chance for S. Korean industry to leap forward: acting president

Acting President Han Duck-soo said Wednesday that strengthening shipbuilding cooperation with the United States could provide an opportunity for the South Korean shipbuilding industry to “make a leap forward.”

Han made the remark during his visit to HD Hyundai Heavy Industries (HHI) Co.’s shipyard in Ulsan, 305 kilometers southeast of Seoul, as Seoul prepares for trade negotiations with Washington by leveraging cooperation in the shipbuilding sector.

“Given the global competitiveness of our shipbuilding sector based on its advanced technology, skilled workforce and modern infrastructure, bolstering cooperation with the U.S. could enhance mutual interests and serve as a valuable opportunity for the Korean shipbuilding industry to make a leap forward,” Han said.

The shipbuilding industry is one of the key areas the Seoul government plans to emphasize during the upcoming talks, as U.S. President Donald Trump has expressed interest in bolstering cooperation to improve America’s shipbuilding capacity, which lags behind China’s.

Han said the Seoul government is exploring various ways to mitigate the impact on domestic industries from the potential fallout of Washington’s new tariffs.

“As the U.S. government has said it will prioritize negotiations with allies such as South Korea, we will make the utmost effort in the negotiations to minimize tariff burdens and promote mutual benefits,” he said.

HHI’s Ulsan shipyard is the world’s largest shipyard, where an 8,200-ton Aegis destroyer and other naval vessels are currently under construction.

Han’s visit comes a day after he toured Kia Corp.’s auto plant, where he pledged expanded government support for the key industry, which has been impacted by 25 percent tariffs imposed by the U.S. on imported vehicles.