South Korea’s Hanwha emerges as key partner in U.S. shipbuilding

South Korea and the United States signed a memorandum of understanding to deepen shipbuilding cooperation, creating the Korea-U.S. Shipbuilding Partnership Initiative. The agreement covers commercial shipbuilding, workforce development, industrial modernization and maritime manufacturing investment. It also plans for a partnership center in Washington, expected to open later this year. The initiative follows South Korea’s pledge to invest $150 billion in the U.S. shipbuilding sector under a broader trade deal that commits Seoul to $350 billion in total U.S. investment overall