South Korea is urged to develop a “win-win” strategy with the U.S. to capitalize on shipbuilding opportunities, as America plans to order hundreds of new vessels by 2037. Strategic cooperation and policy alignment could boost both nations’ maritime sectors amid evolving defense and commercial demands.
South Korea must craft a detailed “win-win” strategy to tap into the growing shipbuilding opportunities emerging from the United States’ efforts to revitalize its maritime industry, according to a prominent local business lobby.
In a report released on Monday, the Federation of Korean Industries (FKI) emphasized the importance of proactive engagement by both the South Korean government and the nation’s top shipbuilders. This call to action comes after a high-level meeting between U.S. Trade Representative Jamieson Greer and executives from HD Hyundai and Hanwha Ocean Co., where shipbuilding cooperation was a central topic, Yonhap News Agency reported.
The FKI report stresses that Korean stakeholders should present sector-specific proposals that align with Washington’s strategic objectives to ensure mutual benefit. “The Korean government and shipbuilding companies need to present sector-specific proposals aligned with the U.S. government’s plans to build new vessels, in order to create mutually beneficial synergies,” the report stated.
The U.S. is expected to order between 403 and 448 new vessels by 2037, including commercial ships, LNG carriers, and naval ships. These projections include 100 commercial vessels, 42 to 65 liquefied natural gas (LNG) carriers, 10 icebreakers, 129 combat ships, and 67 vessels for the National Defense Reserve Fleet.
Further growth in demand is likely, as the SHIPS for America Act — introduced in April — aims to expand the U.S. commercial fleet to 250 ships. Notably, the Act mandates that by 2047, at least 15 percent of U.S. LNG exports must be transported using vessels built in American shipyards.
The U.S. Navy also plans to procure 364 new ships over the next three decades. Moreover, former President Donald Trump pledged earlier this year that the U.S. would acquire 40 large icebreakers, further indicating robust demand in the sector.
Ryu Min-chul, a professor at Korea Maritime and Ocean University and author of the FKI report, stressed that Korean shipbuilders must engage in close dialogue with U.S. authorities when participating in American shipbuilding initiatives. “Korean shipbuilders should ensure consistent support from U.S. authorities,” he said.
However, Professor Ryu also warned that Korean firms should remain cautious of potential risks, including shifts in U.S. policy direction that could affect international collaboration in the shipbuilding industry.
With careful planning, alignment with U.S. priorities, and proactive diplomacy, South Korea could play a significant role in the next chapter of U.S. maritime development, while securing valuable economic and strategic gains for its own shipbuilding sector.
