MASGA Gets Underway as South Korea and the U.S. Set Up Shipbuilding Cooperation Center

Kim Jung-kwan visited Washington, D.C., to discuss strategic investment projects in the United States and ways to strengthen cooperation in shipbuilding and energy. In particular, South Korea and the United States formalized shipbuilding cooperation by signing an MOU on the Korea-U.S. Shipbuilding Partnership Initiative (KUSPI).
According to the Ministry of Trade, Industry and Resources on the 10th, Kim visited Washington, D.C., from the 6th to the 9th local time and discussed cooperation measures in industry and trade with key U.S. officials.
In his meeting with U.S. Commerce Secretary Howard Lutnick, Kim explained South Korea's follow-up legislation and implementation framework after the passage of the Special Act on U.S. Investment. The two sides discussed the direction of specific strategic investment projects in the United States based on project ideas they had already been discussing, focusing on areas of mutual interest such as shipbuilding and energy.
The meeting also led the Ministry of Trade, Industry and Resources and the U.S. Department of Commerce to sign an MOU on the Korea-U.S. Shipbuilding Partnership Initiative (KUSPI). Through this agreement, the two countries will establish the Korea-U.S. Shipbuilding Cooperation Center and promote cooperation projects between companies, including joint research and development and direct investment. They also agreed to strengthen cooperation in workforce training and information sharing.
Kim also met with Russell Vought, director of the White House Office of Management and Budget (OMB), and requested government-level support from the United States to ensure that South Korea's MASGA project can move forward smoothly. He then met with U.S. Secretary of Energy Chris Wright to review progress in energy cooperation, including nuclear power, and discuss ways to expand future cooperation.
He also held a video meeting with Bill Hagerty, a Tennessee U.S. senator known as one of the most prominent pro-Korea lawmakers in Congress, and continued outreach efforts to the United States by discussing nuclear cooperation and digital issues.
The ministry said, "We plan to continue close consultations with the U.S. side on strategic investment projects, while strengthening Korea-U.S. industrial and energy cooperation and managing major trade issues in a stable manner."
Meanwhile, during his visit to the United States, Kim told reporters that the first investment project in the United States under the Korea-U.S. trade agreement would likely be discussed in detail after the Special Act on U.S. Investment takes effect in June.
aber@fnnews.com Park Ji-young Reporter