South Korea's Ministry of Trade, Industry and Energy and the U.S. Department of Commerce officially opened the Korea-U.S. Shipbuilding Cooperation Center (KUSPC) in Washington D.C. on May 23 (local time), signing 15 memorandums of understanding (MOUs) across four cooperation areas. The ceremony formalized a bilateral platform for the $150 billion MASGA shipbuilding cooperation project. The event follows the Korea-U.S. Shipbuilding Cooperation Partnership Initiative MOU signed in May and establishes a dedicated hub for supply chain collaboration, workforce development, and joint technology research between the two nations' shipbuilding industries.
Korea's Big 3 Shipbuilders Form Team Korea with Six Organizations
HD Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries joined three industry organizations—the Korea Shipbuilding and Offshore Engineering Association, Korea Research Institute of Ships and Ocean Engineering (KRISO), and KUSPC—to form Team Korea. According to the Ministry of Trade, Industry and Energy on the 24th, the six entities will provide comprehensive support ranging from U.S. shipyard modernization to equipment ecosystem development and future shipbuilding technology joint research. The opening ceremony drew 130 attendees including Minister Kim Jung-kwan and U.S. Secretary of Commerce Howard Lutnick, with executives from HD Korea Shipbuilding & Offshore Engineering, Samsung Heavy Industries, Hanwha Ocean, HJ Heavy Industries, and HMM participating.
HD Hyundai Heavy and Samsung Heavy Sign Supply Chain and Training MOUs
HD Korea Shipbuilding & Offshore Engineering signed an MOU with U.S.-based Siemens to build next-generation design and production digital solutions for supply chain and MRO (maintenance, repair, and operations) cooperation. Samsung Heavy Industries agreed with Vigor Marine Group to establish a workforce training center equipped with VR (virtual reality) and AR (augmented reality) welding education systems. HD Hyundai Samho signed a formal contract with Washington United Terminals (WUT), operator of Tacoma Port, to supply four state-of-the-art port cranes, marking entry into the U.S. port modernization sector.
Minister Kim Commits to Fast-Track $150 Billion Investment
Minister Kim Jung-kwan stated, "KUSPC is an unprecedented global platform for shipbuilding cooperation, symbolizing Korea's firm commitment to help rebuild the U.S. shipbuilding industry. We will rapidly advance the $150 billion shipbuilding cooperation investment." The ministry announced a five-year joint R&D program totaling 120 billion won (approximately $80 million), with Korean and U.S. companies and institutions jointly conducting eight core projects including physical AI-based autonomous navigation.
KUSPC Receives 199.32 Billion Won Budget Through 2028
KUSPC, located within the Washington D.C. Trade Association branch, will receive total project funding of 199.32 billion won through 2028. The center will handle on-site consulting for U.S. shipyards and professional workforce training while providing direct support for Korean shipbuilders entering the American market.
FAQ
What did Korea and the U.S. sign at the KUSPC opening on May 23?
The two governments signed 15 memorandums of understanding covering four cooperation areas: Team Korea formation, supply chain collaboration, workforce development, and joint technology development. HD Korea Shipbuilding & Offshore Engineering signed with Siemens for digital solutions, Samsung Heavy Industries signed with Vigor Marine Group for VR/AR training centers, and HD Hyundai Samho signed a contract with Washington United Terminals to supply four port cranes.
How much funding will KUSPC receive through 2028?
KUSPC will receive total project funding of 199.32 billion won through 2028. Additionally, Korea's Ministry of Trade, Industry and Energy announced a five-year joint R&D program totaling 120 billion won (approximately $80 million) for eight core technology projects including physical AI-based autonomous navigation systems.
