South Korea’s top shipbuilders — HD Korea Shipbuilding & Offshore Engineering, Hanwha Ocean, and Samsung Heavy Industries — have formed a task force (TF) to enhance collaboration with the U.S. under the $150 billion “MASGA” shipbuilding initiative, part of a broader $350 billion Korea-U.S. investment package. The TF includes one executive and one staff member from each company and is coordinated by the Korea Offshore & Shipbuilding Association. Its primary aim is to monitor industry trends, share information, and eventually convey sector demands to the Korean government as operational details of the fund emerge. The Korean government announced that 43% of the $350 billion package (around $150 billion) will be dedicated to the shipbuilding industry — the largest single-sector allocation — to support Korean firms' expansion in the U.S. market via public financing. While fund details remain pending, it is expected to cover new shipbuilding, workforce development, MRO (maintenance, repair, overhaul), and infrastructure upgrades. The TF held its first meeting and will resume more substantial discussions post-summer break. It is expected to help coordinate the varied strategies of the three major shipbuilders as they pursue U.S. market entry. Hanwha Ocean, for example, is investing around $100 million to acquire a shipyard in Philadelphia, aiming to expand its capacity from 1–1.5 ships per year to over 10 by 2035. Its plans include equipment upgrades, job creation, and technology transfer. HD Hyundai is pursuing joint construction and technology-sharing deals with local U.S. firms. It has partnered with Edison Chouest Offshore to build LNG dual-fuel container ships and is collaborating with Huntington Ingalls on defense shipbuilding to cut costs and improve delivery. Samsung Heavy Industries has signaled interest in joint ventures and other forms of cooperation. During a recent earnings call, it confirmed ongoing discussions with local U.S. shipyards about possible partnerships and business expansion. The MASGA initiative is considered a G2G (government-to-government) agreement, and as the program unfolds, coordination among the three shipbuilders will be key to securing their positions in the evolving U.S. shipbuilding landscape.   (ICE SEOUL)

Fonte notizia: The Korea Economic Daily