A dockyard of Hanwha Ocean Co. in Geoje, South Gyeongsang Province, Dec. 17, 2025 / Yonhap
Korea's policy lenders and major shipbuilders on Thursday signed a memorandum of understanding (MOU) to effectively implement the Seoul-Washington shipbuilding cooperation initiative worth $150 billion, officials said.
The state-run Korea-U.S. Strategic Investment Corp., the Export-Import Bank of Korea, the Korea Development Bank, the Korea Trade Insurance Corp. and the Korea Ocean Business Corp. are parties to the MOU, along with HD Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Hanwha Ocean Co.
Under the MOU, the policy lenders, institutions and shipbuilders will form a consultative body for Korea-U.S. shipbuilding cooperation, taking the lead in information sharing among participants, exploring business opportunities and facilitating policy financing support.
The MOU signing came as Korea has pledged to invest $150 billion in the U.S. shipbuilding sector as part of last year's trade deal that committed the Asian country to investing a total of $350 billion in the U.S. with an annual cap of $20 billion.
