Overview
- The Korea Offshore & Shipbuilding Association’s MASGA task force has convened and begun detailed planning for U.S. shipyard investments under the $150 billion fund.
- Hanwha Group and other Korean firms have dispatched skilled workers to U.S. yards, including training programs at Philly Shipyard, to address critical labor shortages.
- Seoul and Washington are exploring revisions to the Jones Act and Byrnes-Tollefson Amendment to enable cross-border construction and joint naval vessel projects.
- Korean officials credit the shipbuilding fund with helping secure a tariff reduction from a threatened 25% on Korean goods down to 15%.
- The red “Make America Shipbuilding Great Again” cap unveiled by Kim Yong-beom on Aug. 3 continues to serve as a public-diplomacy symbol in the Korea-U.S. negotiations.