Hanwha Ocean signs naval ship design, supply chain deals with U.S. firms
South Korean shipbuilder partners with Leidos Gibbs & Cox, Hanwha Philly Shipyard, and educational/business groups to support U.S. shipbuilding revitalization.
Quick Look
Hanwha Ocean signed agreements with U.S. companies Leidos Gibbs & Cox, Hanwha Philly Shipyard, and others in Washington to design naval vessels and develop the shipbuilding supply chain, supporting the "Make American Shipbuilding Great Again" initiative.
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Why It Matters
Hanwha Ocean signed agreements with U.S. companies to advance the "Make American Shipbuilding Great Again" (MASGA) initiative, aiming to revitalize the U.S. shipbuilding industry.
SEOUL, July 24 (Yonhap) -- Hanwha Ocean Co., the shipbuilding arm of South Korea's Hanwha Group, said Friday it has signed multiple agreements with U.S. companies on naval ship design and shipbuilding supply chain development.
The signing took place in Washington on Thursday (U.S. time) during the opening ceremony of the Korea-U.S. Shipbuilding Partnership Center (KUSPC), a platform established to advance the "Make American Shipbuilding Great Again" (MASGA) initiative aimed at revitalizing the U.S. shipbuilding industry.
Hanwha Ocean signed a professional services agreement with Leidos Gibbs & Cox for the design of the Global Fast Sealift (GFS) vessel, following the companies' memorandum of understanding (MOU) inked in April on cooperation in next-generation naval ship design and the expansion of U.S. shipbuilding capacity, the company said in a press release.
"By combining Hanwha Ocean's naval shipbuilding capabilities with Leidos' ship design and engineering expertise, the companies aim to deliver a reliable and proven platform to the U.S. and global markets," it said.
The company also signed an MOU with Hanwha Philly Shipyard (HPSI), a U.S. subsidiary of Hanwha Group, and Delaware County Community College on cooperation in shipbuilding technology training and workforce development.
It also signed an MOU with HPSI, the Greater Philadelphia Chamber of Commerce and the Greater Philadelphia Growth Partnership on strengthening the shipbuilding supply chain.
Hanwha Ocean said it is fully prepared to contribute to the revitalization of the U.S. shipbuilding industry while supporting the continued growth of South Korea's shipbuilding sector.
"Building on our local production footprint, we will expand cooperation in areas most critical to the U.S. and serve as a key driver of the MASGA project," said Jung In-sub, president and head of the Management Support Office at Hanwha Ocean.
Open Questions
- How will the GFS vessel design progress?
- What specific projects will result from supply chain strengthening?
- What are the timelines for workforce development programs?
