Hanwha Group has offered up to $1.2 billion to acquire Austal USA and its operating assets as it seeks to expand its shipbuilding and defense business in the United States.
The Republic of Korea and the United States opened KUSPC in Washington, D.C., alongside 15 agreements covering shipyards, supply chains, workforce training and joint R&D.
Hanwha Philly Shipyard will build three MRIVs for the U.S. Golden Dome program. Industry sources estimate the undisclosed three-vessel contract at $1.5 billion, with deliveries beginning in June 2030.
The U.S. has requested naval shipbuilding capacity information from HD Hyundai Heavy Industries, Hanwha Ocean and Samsung Heavy Industries as Seoul and Washington advance shipbuilding cooperation.
South Korea asked for tariff relief and policy backing for Hanwha’s Philly Shipyard as Seoul and Pennsylvania discussed permits, infrastructure, labor support, and wider shipbuilding growth.
A U.S. Commerce delegation reviewed HJ Shipbuilding’s facilities in Busan, assessing naval MRO capabilities and exploring merchant shipbuilding cooperation under the expanding MASGA framework.
U.S. naval operations chief Adm. Daryl Caudle met with HD Hyundai and Hanwha Ocean executives during visits to Ulsan and Geoje shipyards, where both companies outlined cooperation plans linked to the MASGA initiative and U.S. naval programs.
Samsung Heavy Industries joined Korea’s $150 billion MASGA initiative with a partnership with DSEC, marking the Big Three’s united entry into U.S. shipbuilding cooperation.
HD Hyundai Heavy Industries has launched its first U.S. Navy vessel overhaul project in Ulsan, signaling deeper defense and shipbuilding cooperation between South Korea and the United States.
