White House Official Emphasizes Shipbuilding Cooperation with South Korea and Japan
Quick Look
White House Office of Management and Budget Director Russell Vought emphasized the need for shipbuilding cooperation with South Korea and Japan to rebuild the U.S. shipbuilding industry and Navy, citing Hanwha Group's investment in Philly Shipyard and calling for rewards for companies investing in the United States.
AI-generated summary
Why It Matters
The Trump administration is working to rebuild the United States' shipbuilding industry and Navy, seeking cooperation with South Korea and Japan as part of this effort.
By Song Sang-ho
WASHINGTON, Oct. 2 (Yonhap) -- A senior White House official on Friday underscored the need for shipbuilding cooperation with South Korea and Japan, as U.S. President Donald Trump's administration strives to rebuild the United States' shipbuilding industry and its Navy.
Russell Vought, director of the White House Office of Management and Budget, made the remarks during a forum in Washington, also highlighting the need to reward companies that come to the United States and make investments there.
"We're going to be doing ... with the Japanese and South Koreans," he said during the forum hosted by the Hudson Institute. "We want to learn from them. We want to see how they make ships and then apply it here."
Vought mentioned "major investments" by South Korea's Hanwha Group to acquire Philly Shipyard in Philadelphia, stressing the need to open up federal contracting opportunities to other companies rather than just "prioritizing the primes," firms that the U.S. government has traditionally worked with.
In addition, the official called for rewarding companies that invest in the U.S.
"I think we need to reward those companies that are coming and making the investment here in this country, and we're excited to see it," he said.
"We know there's a number of conversations out there to revitalize new shipyards, or either brownfields or green fields."
His remarks came as South Korea has committed US$150 billion for shipbuilding cooperation with the U.S. as part of its $350 billion investment pledge under last year's trade agreement between the two countries.
What to Watch
AI outlook — possibilities, not facts
The U.S. will increase federal contracting opportunities for shipbuilding companies beyond traditional prime contractors.
Likely · Within months
South Korea will follow through on its $150 billion shipbuilding cooperation commitment with the U.S. as part of the $350 billion investment pledge.
Likely · Within months
Open Questions
- What specific shipbuilding technologies or practices will the U.S. adopt from South Korea and Japan?
- How will the U.S. implement rewards for companies investing in domestic shipbuilding?
- What is the timeline for revitalizing new shipyards or developing brownfield/greenfield sites?
