Senior U.S. official touts shipbuilding cooperation with Korea

A senior White House official on Friday underscored the need for shipbuilding cooperation with Korea and Japan, as U.S. President Donald Trump's administration strives to rebuild the United States' shipbuilding industry and its Navy.

Russell Vought, director of the White House Office of Management and Budget, made the remarks during a forum in Washington, also highlighting the need to reward companies that come to the United States and make investments there.

“We're going to be doing [...] with the Japanese and South Koreans,” he said during the forum hosted by the Hudson Institute. “We want to learn from them. We want to see how they make ships and then apply it here.”

Vought mentioned “major investments” by Korea's Hanwha Group to acquire Philly Shipyard in Philadelphia, stressing the need to open up federal contracting opportunities to other companies rather than just “prioritizing the primes,” firms that the U.S. government has traditionally worked with.

In addition, the official called for rewarding companies that invest in the U.S.

“I think we need to reward those companies that are coming and making the investment here in this country, and we're excited to see it,” he said.

“We know there's a number of conversations out there to revitalize new shipyards, or either brownfields or green fields.”

His remarks came as Korea has committed $150 billion for shipbuilding cooperation with the U.S. as part of its $350 billion investment pledge under last year's trade agreement between the two countries.

Yonhap