Establishment of Korea-U.S. Shipbuilding Cooperation Center Gains Momentum... Will MASGA Pick Up Speed?

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\r\n[Financial News]  
\r\nSouth Korea and the United States will move to establish a shipbuilding partnership center. The move is expected to put the Make American Shipbuilding Great Again (MASGA) project into full swing.
\r\nOn the 8th local time, the Ministry of Trade, Industry and Resources and the U.S. Department of Commerce signed an MOU on the Korea-U.S. Shipbuilding Partnership Initiative at the Department of Commerce building in Washington, D.C.
\r\nUnder the MOU, the two sides agreed to cooperate on promoting corporate partnership projects such as joint research and development, technology exchanges and direct investment. They also plan to work together on training and exchanges for shipbuilding workers, as well as sharing information related to the shipbuilding industry.
\r\nIn particular, the two ministries agreed to push ahead with the establishment of the Korea-U.S. Shipbuilding Partnership Center in the United States to support these efforts.
\r\nThe center will focus on building local networks for cooperation and tracking policy trends. It will also support corporate collaboration between the two countries and help run detailed programs such as improving the productivity of U.S. shipyards and training workers.
The ministry said the MOU signed that day confirmed both countries' commitment to advancing shipbuilding cooperation, as well as the U.S. side's support for establishing the center.
\r\nThe ministry added, "Through the center to be established in the future, we expect to identify and implement concrete cooperation projects based on the needs of companies in both countries." It also said, "We plan to swiftly open the center by carrying out follow-up steps without delay, including setting up a local entity, securing office space and dispatching staff, while also working to identify concrete results."
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aber@fnnews.com Park Ji-young Reporter