Korea’s Hanwha wins US Navy MRO deal as Trump seeks to deepen shipbuilding tie

Quick Summary:

STRATEGIC BASE FOR DEFENSE COOPERATIONThe deal came as Trump is seeking cooperation in the defense maintenance sector with South Korea, one of the US closest allies, spurring the country’s shipbuilders to target the 20 trillion won ($14.2 billion) MRO business with the US Navy.“American shipbuilding needs South Korea’s help.

The US has 219 warships, fewer than 234 of China, adding to hopes South Korea, with the world’s second-largest capability for battleships after China, will be a key ally for the US Navy, sources in Seoul said.“Trump mentioned close cooperation as the US needs South Korea to contain China,” said one of the sources.“The Korea-US shipbuilding cooperation is expected to grow stronger than stronger.”HD Hyundai Heavy Industries Co., Hanwha’s larger rival, also aims to win MRO deals from the US Navy.

Hanwha Ocean Co., South Korea’s third-largest shipbuilder, secured another vessel repair contract from the US Navy, expanding its defense business, as President-elect Donald Trump said he expected to strengthen cooperation in the shipbuilding industry of the Asian country.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: Economy

Markets: South KoreaChinaSingapore

Topics: Shipbuilder South Shipbuilding Hanwha Navy Cooperation Korea’s Maintenance Business Defense Korea

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 18:18:48 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 626 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 23549269

View Article Analysis

About Korea Economic Daily

Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 11 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 10 hours ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

Publisher Details

Frequently Asked Questions