South Korea Ready to Rescue American Shipbuilding

Two leading South Korean companies, HD Hyundai Heavy Industries and Hanwha Ocean, offered help to the US Navy amid the crisis in the US shipbuilding industry.

Their shipyards, located in Ulsan and Koj, are already building modern warships for the Republic of Korea Navy – on time and within budget, according to CNN.

According to the US Secretary of the Navy, even in the best-case scenario, construction is six months behind schedule and costs are 57% over budget. Meanwhile, Hanwha has already completed a new hangar for assembling frigates in a record 14 months.

Each Korean frigate is 122 meters long, has a displacement of 3,100 tons, and is armed with missiles, torpedoes, and air defense systems. Construction takes about three years — the same amount of time that the American counterpart is already behind schedule.

More than 32,000 people work at the HD Hyundai shipyard, with an average length of service of 16 years. Due to a combination of military and civilian orders, the company maintains a stable workload.

In August, President Trump acknowledged that America had “foolishly abandoned” shipbuilding.

During a meeting with the South Korean president, Seoul’s plan to “make American shipbuilding great again” was confirmed.