Minister Jon Palan will visit HD Hyundai Heavy Industries and Hanwha Ocean.
According to the shipbuilding industry on the 30th, Minister Palan will meet with Acting Prime Minister Han Duck-soo in the morning and then visit the Ulsan headquarters of HD Hyundai Heavy Industries and the Geoje plant of Hanwha Ocean in the afternoon. It is anticipated that Minister Palan will discuss cooperation plans for shipbuilding and maintenance, repair, and overhaul (MRO) with the management of both companies.
The U.S. Navy operates under the Ministry of National Defense, responsible for the administrative and institutional management of the Navy, including administration, budget, personnel, and equipment procurement. From a corporate perspective, they are no different from customers. Therefore, core executives, including Vice Chairman HD Hyundai and Vice Chairman Kim Dong-kwan of Hanwha Group, are expected to be involved.
U.S. President Donald Trump has emphasized a strong commitment to rebuilding the American shipbuilding industry since before taking office and has highlighted the importance of cooperation with South Korea, which holds the world’s top shipbuilding competitiveness. The United States wants to strengthen its naval power, but the shipbuilding industry is lagging and facing difficulties.
Minister Palan's visit is seen as a preliminary visit before full-scale cooperation in the Korea-U.S. shipbuilding industry. During his confirmation hearing as a nominee, Minister Palan mentioned the acquisition of Hanwha Ocean’s Philadelphia shipyard, stating, “They will look into ways to enhance it and make it better, and attracting their capital and technology here (to the U.S.) is, in my opinion, very, very important.”