HD Hyundai to build US shipyard with Kiewit, create 3,000 jobs

HD Hyundai said on Friday it had agreed with US construction firm Kiewit to develop a shipyard in the United States, with building work due to start in 2027. The facility is scheduled to begin operating in 2029 and is expected to provide about 3,000 domestic jobs, Business Recorder reported.

The partners plan to establish a joint venture to examine opportunities involving commercial vessels, support ships for the US Navy, and the supply of ship sections and modules to American yards. The project is also intended to increase US shipbuilding capacity and strengthen cooperation between South Korea and the United States. Seoul’s planned $150 billion allocation to US shipbuilding forms part of a wider $350 billion investment commitment linked to US tariff reductions.