• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home World

South Korea Needs ‘Win-Win’ Strategy For Shipbuilding Partnership With US

OMMCOM NEWS by OMMCOM NEWS
May 19, 2025
in World

Seoul: South Korea should establish a detailed “win-win” strategy to seize business opportunities amid the United States’ push to revitalise its shipbuilding industry, a local business lobby said on Monday.

The recommendation follows a recent meeting between U.S. Trade Representative Jamieson Greer and top executives from major Korean shipbuilders HD Hyundai and Hanwha Ocean Co. to discuss cooperation in shipbuilding, reports Yonhap news agency.

“The Korean government and shipbuilding companies need to present sector-specific proposals aligned with the U.S. government’s plans to build new vessels, in order to create mutually beneficial synergies,” the Federation of Korean Industries (FKI) said, citing a new report.

According to the report, the U.S. is expected to place orders for between 403 and 448 vessels by 2037, including commercial ships, liquefied natural gas (LNG) carriers and naval ships.

The projected orders include 100 commercial vessels, 42 to 65 LNG carriers, 10 icebreakers, 129 combat ships and 67 vessels for the National Defense Reserve Fleet.

The number of U.S. vessel orders is likely to increase further as the country aims to expand its commercial fleet to 250 ships under the SHIPS for America Act, proposed in April. The act also mandates that by 2047, 15 percent of outbound U.S. LNG shipments must be transported on domestically built vessels.

Additionally, the U.S. Navy recently announced plans to procure 364 new ships over the next 30 years. In January, U.S. President Donald Trump pledged that the U.S. would order 40 large icebreakers.

“Korean shipbuilders should engage in close consultations with the U.S. government when participating in local shipbuilding projects and ensure consistent support from U.S. authorities,” Professor Ryu Min-chul of Korea Maritime and Ocean University said in the report titled “Analysis of the U.S. Shipbuilding Industry and Implications for Korea–U.S. Cooperation.”

Ryu also warned that Korean companies must be mindful of potential business risks stemming from possible changes in U.S. shipbuilding policies.

(IANS)

Tags: South KoreaU.S. President Donald Trump
ShareTweetSendSharePinShareSend
Previous Post

CM Majhi’s 10th Grievance Hearing Session Underway In Bhubaneswar

Next Post

Terror Plot Foiled, Two Arrested In Andhra And Telangana

Related Posts

Southern Afghanistan
World

12 Killed, Four Injured As Tractor Slides Into Water In Southern Afghanistan

August 22, 2025
Imran Khan's Nephews
World

Pakistan: Imran Khan’s Nephews Arrested, Sent To Police Remand Over May 9 Riots

August 22, 2025
Wickremesinghe
World

Former Lankan President Wickremesinghe Arrested On Charges Of Misuse Of State Funds

August 22, 2025
Karachi Residents
World

Pakistan: Karachi Residents Hold Protest Against 50-Hour Power Outage

August 22, 2025
Sikh Pilgrims
World

Pakistan Plans To Push Anti-India Narrative During Sikh Pilgrims’ Visit: Report

August 22, 2025
World

EAM Jaishankar Concludes Moscow Visit; Reaffirms Strength Of India-Russia Strategic Partnership

August 22, 2025
Next Post
Arrested

Terror Plot Foiled, Two Arrested In Andhra And Telangana

Outlook For Indian Telecom Tower Industry Revised To Stable: ICRA

Odia YouTuber Priyanka Locks Insta Account Amid Row Over Ties With Alleged Pakistani Spy

khimji
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.