To implement the USD 150 billion Korea-U.S. shipbuilding cooperation investment under the Korea-U.S. Strategic Investment Memorandum of Understanding (Nov 14, 2025), the Korea-U.S. Strategic Investment Corporation (KUIC), together with policy finance institutions, including the Export-Import Bank of Korea (Korea Eximbank), the Korea Development Bank (KDB), the Korea Trade Insurance Corporation (K-SURE), and the Korea Ocean Business Corporation (KOBC), and Korea’s major shipbuilders, including HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean, signed a Memorandum of Understanding (MOU) on the Effective Implementation of Korea-U.S. shipbuilding cooperation investment on June 25.

Building on the MOU, the KUIC, policy finance institutions, and major shipbuilders will establish the Korea-U.S. Shipbuilding Cooperation Investment Council. The Council will promote information sharing among participating institutions, identify business opportunities, and facilitate policy finance support. The Korea Eximbank will serve as the secretariat, overseeing both internal and external communications as well as monitoring the implementation of related projects.

The signing ceremony was held at the Korea Eximbank in Yeouido, Seoul, with Deputy Prime Minister and Minister of Finance and Economy Koo Yun Cheol, Vice Chairman of the Financial Services Commission Kwon Dae Young, and Director General for Industrial Policy of the Ministry of Trade, Industry and Resources Park Dong Il in attendance to mark the first step toward Korea-U.S. shipbuilding cooperation investment.

In his opening remarks, Deputy Prime Minister Koo described the shipbuilding cooperation investment as “one of the two pillars of the Korea-U.S. Strategic Investment initiative, alongside investment in the U.S.” He emphasized that “this mutually beneficial investment will not only enable Korea’s world-class shipbuilders to support the revitalization of the U.S. shipbuilding industry, but also create new business opportunities and markets for Korea’s entire shipbuilding ecosystem, ranging from major shipbuilders to small and medium-sized shipbuilders and equipment suppliers.

Deputy Prime Minister Koo also asked the KUIC and the policy finance institutions participating in the MOU to develop financial support measures to ensure the timely and sufficient provision of funding. He further emphasized the need to actively explore ways to share risks and uncertainties associated with initial investments that may be difficult for individual companies to bear alone. He also encouraged Korea’s major shipbuilders to actively identify mutually beneficial projects for both countries, adding that they would enable the small and medium- sized shipbuilders and equipment suppliers to participate as part of “Team Korea.”

Vice Chairman of the Financial Services Commission Kwon stated, “The Korea-U.S. shipbuilding cooperation investment initiative provides a unique opportunity for Korea’s shipbuilding industry to showcase its world-class capabilities on a global stage. The government will actively support the initiative by ensuring seamless financial assistance through closed coordination among the newly established KUIC, policy finance institutions, and private financial institutions.

Director General for Industrial Policy at the Ministry of Trade, Industry and Resources Park noted, “MASGA[1] marks the first strategic overseas expansion project in the history of Korea’s shipbuilding industry, and positive momentum is continuing in the U.S., including moves to place orders with Korean companies.” “To fully capitalize on these market opportunities, timely financial support for companies’ overseas expansion is essential.” He also expressed hope that the signing ceremony would serve as a catalyst for the MASGA project and create fresh momentum for Korea’s shipbuilding industry to take another leap forward. He also called on policy finance institutions to work closely together to support Korean companies’ successful entry into the U.S. market.

President of the KUIC Park Jong Won stated, “Korea-U.S. shipbuilding cooperation investment is one of the core pillars of the Korea-U.S. Strategic Investment initiative and a key mission for the KUIC in implementing its strategic investment mandate.” He added, “In close cooperation with policy finance institutions, the KUIC will actively support Korea’s shipbuilding industry in expanding investment in the U.S. and securing shipbuilding orders.”

Chairman of the Korea Eximbank Hwang Ki Yeon stated, “As Korea’s leading ship finance institution, the Korea Exim will actively support the government’s implementation of the Korea-U.S. shipbuilding cooperation investment leveraging the expertise and know-how it has built over the year.” He added, “Building on this MOU, the government will work closely with participating institutions and companies in the Council to generate tangible results while helping K-Shipbuilding successfully enter the U.S. market and secure new growth drivers.”

CEO of HD Hyundai Heavy Industries Lee Sang Kyun stated, “What matters most is seeing that Korea-U.S. shipbuilding cooperation delivers tangible results. This partnership should evolve into a cooperative framework that promotes both the growth of Korea’s shipbuilding industry and the revitalization of the U.S. shipbuilding industry.” He further noted, “Drawing on our world-class technological capabilities, Korea’s shipbuilding industry will continue to identify diverse investment opportunities that are both commercially viable and feasible. We also look forward to the government introducing multifaceted support measures so that, together, we can usher in a new chapter in Korea-U.S. shipbuilding cooperation.”