US President Donald Trump departs after unveiling plans for a brand new “Golden Fleet” of ships at his Mar-a-Lago resort in Florida on Dec. 22, 2025. (AP/Yonhap)
South Korean shipbuilding business insiders are predicting the so-called MASGA initiative to “make American shipbuilding nice once more” will enter full swing subsequent 12 months, with US President Donald Trump personally asserting on Monday that the US would collaborate with Hanwha on frigate building.
After Trump’s announcement, Hanwha briefly commented that the corporate was “ready to construct all sorts of vessels wanted by the US Navy on the Philly Shipyard.”
Whereas Trump had beforehand referred to the Philly Shipyard — which was acquired by Hanwha — through the APEC Summit in Gyeongju and tariff negotiations, this was the primary time he had publicly talked about Hanwha by identify.
A shipbuilding business official stated that it was “uncommon for President Trump to say the identify of a non-public enterprise in reference to warship building.”
“Since he has gone as far as to speak intimately publicly about collaboration in reference to frigate building, we will see the chance as being that a lot higher that MASGA cooperation will enter full swing subsequent 12 months,” they predicted.
Within the 12 months following its acquisition by the Hanwha Group in December of final 12 months, the Philly Shipyard has reportedly obtained orders for 12 vessels from the US Maritime Administration and different sources. The corporate has stated that it’s exhausting at work boosting its manufacturing capabilities, together with growing the variety of employees on web site from round 1,500 to round 2,000.
Nonetheless, the dimensions of the shipyard could also be a limiting issue, and it stays to be seen whether or not Hanwha can safe orders for the huge warships instantly. In response, Hanwha has moved to boost its stake within the Australian shipbuilder Austal. The Korean agency can be including docks to the Philly Shipyard and exploring different shipyards for acquisition.
On the heels of its new memorandum of settlement with No. 1 US shipbuilder Huntington Ingalls Industries to cooperate on the design and building of naval and industrial vessels, HD Hyundai Heavy Industries is awaiting the outcomes of its bid to construct new auxiliary vessels for the US Navy. Accordingly, the shipbuilders are trying into joint investments in establishing or buying new shipyards within the US.
Due to a US regulation generally often known as the Byrnes-Tollefson Modification, which stipulates that US Navy ships might solely be constructed at shipyards within the US, Korean corporations are utilizing cooperation with native US shipbuilding firms as a bridgehead as they bounce into the US warship market.
“The truth that Trump straight talked about the cooperation and tasks with a Korean shipbuilder is a sign that the MASGA undertaking goes full steam forward,” commented Lee Eun-chang, a analysis fellow on the Korea Institute for Industrial Economics and Commerce.
“Because it builds the frigates talked about by Trump, Hanwha’s investments in services and workforces, in addition to coordination of duties, will likely be essential,” Lee added.
By Lee Jae-ho, employees reporter
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