Last week, Mike Lee and John Curtis, Republican senators from Utah, introduced the Ensuring Naval Readiness Act and the Ensuring Coast Guard Readiness Act, designed to modernize and expedite the construction and procurement processes for US maritime forces by fostering increased collaboration with allied nations.“By allowing the option to construct ships or components in shipyards of NATO member countries or Indo-Pacific nations with which the US has mutual defense agreements, this bill aims to reduce costs and speed up delivery times, helping to close the gap between current capabilities and strategic needs,” Lee said in a joint statement while introducing the Naval Readiness Act.
South Korea’s two warship builders – HD Hyundai Heavy Industries Co.and Hanwha Ocean Co., – are set to ride tailwinds in their bids to build US warships following the introduction by two US senators of new bills aimed at strengthening the US Navy and Coast Guard readiness.
HD Hyundai, which delivered Jeongjo the Great, one of the world's top-tier Aegis destroyers, to the Korean Navy, last November, also won a deal to build another for Peru earlier this year.
The story "HD Hyundai, Hanwha to tap into $242 billion US Navy warship market" has 723 words across 30 sentences, which will take approximately 4 - 7 minutes for the average person to read.
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