HD Hyundai chief vows to bolster S. Korea-US shipbuilding cooperation at APEC event

Seoul, Oct 27 (IANS) HD Hyundai Co, South Korea's leading shipbuilding conglomerate, is committed to playing a key role in the Seoul-Washington partnership aimed at revitalising the U.S. naval and commercial shipbuilding industries, its chairman said on Monday.

"We intend to actively participate in the U.S.' new maritime vision and policies, particularly the initiatives for maritime dominance and prosperity, including the construction of a next-generation fleet spearheaded by the U.S. Navy and the rebuilding of shipyards," Chairman Chung Ki-sun said in a keynote speech at the Future Tech Forum in Gyeongju, some 275 kilometers southeast of Seoul, the host city of this week's Asia-Pacific Economic Cooperation (APEC) CEO Summit.

The forum was held as part of an official business event of the APEC gathering in South Korea, reports Yonhap news agency.

His remark underscored Korea-U.S. cooperation in shipbuilding, represented by the slogan Make American Shipbuilding Great Again (MASGA), during his first official appearance as HD Hyundai chairman following his promotion from senior vice chairman on Oct. 17.

HD Hyundai is currently reviewing plans to enter the U.S. market, including equity participation and potential acquisitions of local shipyards.

As part of efforts to strengthen bilateral cooperation in shipbuilding, the company signed a strategic partnership agreement in April with Huntington Ingalls Industries (HII), the largest defense shipbuilder in the United States, to collaborate on technology and jointly build naval vessels.

"We are ready to join the journey of innovation as a steadfast partner in ushering in America's new maritime renaissance era," Chung said. "We aim to move forward together for the security and development of both nations."

Meanwhile, around 600 officials from governments, the military and the shipbuilding industry, including representatives from HII and Anduril Industries Inc., attended the tech forum hosted by HD Hyundai, which aims to strengthen global business partnerships.

HD Hyundai said it will accelerate cooperation with U.S. defence firm Anduril to develop unmanned surface vessels (USVs). The two companies signed a memorandum of agreement (MOA) on the project in August.

With HII, the company plans to expand joint research and development and technology exchanges in advanced fields, such as robotics and artificial intelligence (AI), as well as pursue cooperation in establishing a full lifecycle support and maintenance system for naval assets.

--IANS

na/