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Industry minister meets U.S. senators to discuss shipbuilding cooperation

Published: 19 Aug. 2025, 20:46 Updated: 20 Aug. 2025, 15:34

Minister of Trade, Industry and Energy Kim Jung-kwan attends the second plenary session of the National Assembly’s Trade, Industry, Energy, SMEs and Startups Committee in western Seoul on Aug. 19. [NEWS1]

Minister of Trade, Industry and Energy Kim Jung-kwan met with visiting U.S. senators in Seoul on Tuesday to discuss ways to bolster bilateral cooperation between Korea and the United States in shipbuilding and other sectors, Kim's office said.

In the meeting with Democratic Sen. Tammy Duckworth of Illinois and Democratic Sen. Andy Kim of New Jersey, the Korean minister called for the lawmakers' attention to and support for Korean companies' efforts to expand investment in the United States, especially in Illinois and New Jersey, according to the Ministry of Trade, Industry and Energy.

Illinois and New Jersey house U.S. offices and manufacturing facilities of a number of Korean enterprises, including logistics firm CJ Logistics, tech giant Samsung Electronics, home appliances maker LG Electronics and biotech firm SK Biopharmaceuticals.

Industry Minister Kim also urged U.S. Congress' efforts to make sure the envisioned shipbuilding cooperation between the two countries can bear fruit, citing Philly Shipyard, located near New Jersey, which was acquired by Korea's Hanwha Group last year, as an example.

Seoul will be a "credible" partner with "world best" shipbuilding capabilities and technologies for Washington in its efforts to rebuild the shipbuilding industry, the minister stressed.

Last month, Korea made a pledge to invest $150 billion in the United States for bilateral shipbuilding cooperation as part of a tariff deal with the Donald Trump administration.

The ministry said Kim and the U.S. senators agreed Seoul and Washington should bolster their ties amid a fast-changing trade environment.

U.S. senators also met with Seoul's foreign and defense ministries, as well as the Defense Acquisition Program Administration to discuss the two countries' push for shipbuilding cooperation, according to the foreign ministry.

They also held talks with three major shipbuilders — Hanwha Ocean, HD Hyundai and Samsung Heavy Industries — on Tuesday.

In the meeting, the shipbuilders called for easing regulations in the United States for successful cooperation, vowing to make efforts to expand technology and people-to-people exchanges with U.S. shipbuilders to foster development of U.S. industry, the ministry said.

In response, the U.S. lawmakers said they will "proactively" review the requests made by the companies, noting the rebuilding of the U.S. shipbuilding industry has emerged as a key security issue for the United States.

The U.S. sealift fleets have been facing significant shortfalls, suffering frequent breakdowns, which could hinder the transport of troops and supplies in times of crisis, Duckworth said, expressing anticipation for the bilateral cooperation.

Yonhap