HD Hyundai, U.S. envoy discuss shipbuilding ties ahead of summit

SEOUL, Aug. 13 (Yonhap) -- HD Hyundai, South Korea's leading shipbuilding group, said Wednesday that senior government officials from South Korea and the United States visited its shipyard to discuss ways to expand bilateral cooperation in the shipbuilding sector ahead of a summit between their top leaders.

Foreign Minister Cho Hyun; Joseph Yun, acting U.S. ambassador to South Korea; and Lee Sang-kyun, president and chief executive officer of HD Hyundai Heavy Industries Co., met at the shipbuilder's headquarters in Ulsan, about 300 kilometers southeast of Seoul, the company said in a press release.

Lee briefed the visitors on HD Hyundai's advanced shipbuilding capabilities and technologies, as well as the company's future vision for the industry.

Foreign ministry officials toured the shipyard to assess what government support may be needed to advance the US$150 billion South Korea-U.S. shipbuilding cooperation initiative, dubbed "Make American Shipbuilding Great Again" (MASGA), which aims to revitalize the U.S. shipbuilding industry, the release said.

"HD Hyundai will provide full support and play an active role in ensuring the success of the MASGA project, which has emerged as a new symbol of the Korea-U.S. alliance," Lee said.

Earlier this month, HD Hyundai Heavy secured a maintenance, repair and overhaul (MRO) contract for a U.S. Navy cargo ship, marking the first such deal under the MASGA initiative.

HD Hyundai's intermediate holding company, HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE), oversees three shipbuilding affiliates: HD Hyundai Heavy, HD Hyundai Samho Heavy Industries and HD Hyundai Mipo Dockyard.

kyongae.choi@yna.co.kr
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