Kim Hyung-kwan (left), CEO of HD Korea Shipbuilding & Offshore Engineering, and Patrick V. Kelly, CEO of Fraser Industries, pose for a photo at a signing ceremony held in Washington. (HD Hyundai) HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for HD Hyundai’s shipbuilding businesses, said Thursday that it signed a business agreement with Fraser Industries LLC on modernizing US shipyards to revive the US shipbuilding industry.CEO Kim Hyung-kwan and Technical Advisor Shin Jong-gye of HD Korea Shipbuilding & Offshore Engineering and Patrick V. Kelly, CEO of Fraser Industries, attended a signing ceremony held in Washington.This agreement marks the first concrete initiative undertaken by the company since it added “development and supply of digital engineering and manufacturing platforms” to its articles of incorporation in March, and introduced “comprehensive shipyard construction solutions” as a future growth engine.Under the agreement, both companies will collaborate across the entire cycle of building and operating a shipyard. This includes inspecting shipyards, planning layouts, introducing robot and automation equipment, optimizing costs, construction, quality, and productivity, applying AI-based digital solutions, expanding supply chains, and cultivating technical personnel.To proceed with such plans, HD Korea Shipbuilding & Offshore will compile its expertise in building and operating a shipyard into a single package for transfer.In particular, the two companies plan to sign a supply agreement within the year to launch a consulting program for modernizing shipyards, with the Fraser shipyard on the shore of Lake Superior as a demonstration model.“We are happy to partner with HD Hyundai, a leading company in the international shipyard industry,” said Kelly. “This partnership is an important starting point for empowering the US shipbuilding industry.”“We plan to provide the Fraser Shipyard with our expertise in constructing and operating shipyards,” said Kim. “Moving forward, we will expand our partnership areas to grow as a trustworthy partner of the US shipbuilding industry.”