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China to suspend sanctions on Hanwha Ocean's U.S. subsidiaries

Published: 10 Nov. 2025, 15:20 Updated: 10 Nov. 2025, 20:08

President Lee Jae Myung, center, Pennsylvania Gov. Josh Shapiro, third from left, and executives of Hanwha Ocean pose for a photo during Lee's visit to Hanwha Philly Shipyard in Philadelphia on Aug. 27. [YONHAP]

China will suspend sanctions on five U.S.-based subsidiaries of Hanwha Ocean for one year as part of a de-escalation agreement in the U.S.-China trade war.

The Chinese Ministry of Commerce announced on Monday that “the United States will halt its Section 301 investigation-related measures targeting China's maritime, logistics and shipbuilding sectors for one year starting Nov. 10.” As a result, sanctions against five Hanwha Ocean subsidiaries located in the United States will also be suspended for one year from the same date.

In response, Hanwha Ocean expressed its welcome.

“We welcome the Chinese government’s decision and hope that this grace period will further strengthen our partnership with our Chinese business counterparts,” the company said in a statement released Nov. 10.

On Oct. 14, China placed the five subsidiaries — Hanwha Philly Shipyard, Hanwha Shipping, Hanwha Ocean USA International, Hanwha Shipping Holdings and HS USA Holdings — on a sanctions list banning Chinese companies from doing business with them.

The move came in retaliation for what Beijing claimed was Hanwha Ocean’s cooperation with a Section 301 investigation by the United States Trade Representative into China’s shipping, logistics and shipbuilding industries.

However, during a meeting in Busan on Oct. 30, the leaders of China and the United States agreed to avoid escalating the trade conflict.

Following that agreement, Washington decided to suspend its Section 301 measures against Beijing's maritime-related industries for one year.

China agreed to retract its retaliatory measures, including sanctions on various shipping companies, which were enacted in response to the U.S. Section 301 investigation, according to a fact sheet released by the White House on Nov. 1.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY JUNG SI-NAE [[email protected]]