Huntington Ingalls, HD Hyundai Heavy Industries sign MOU for shipbuilding collaboration

Reuters

Mon, Apr 7, 2025, 6:26 AM 1 min read

(Reuters) - U.S. subject shipbuilder Huntington Ingalls and South Korea's HD Hyundai Heavy Industries person signed an statement to research opportunities to summation accumulation successful commercialized and defence projects, the companies said connected Monday.

The companies signed a memorandum of knowing to look into areas of innovation and maximize accumulation ratio utilizing their combined resources.

The U.S. is looking to deter China's dominance successful the shipbuilding sector. In January, the U.S. Trade Representative's probe recovered China's shipbuilding dominance was "unreasonable" and "actionable" nether the United States' commercialized laws.

President Donald Trump is readying to levy fees connected imports arriving connected Chinese-made ships and connection taxation credits to resuscitate home shipbuilding.

The statement betwixt Huntington and HD Hyundai Heavy Industries volition assistance fortify the corporate maritime concern basal of some the U.S. and South Korea, the companies said, arsenic countries astir the satellite are pushing up defence spending successful the aftermath of increasing geopolitical tensions.

HD Hyundai Heavy Industries has a planetary marketplace stock of astir 10% successful shipbuilding, according to its website.

(Reporting by Utkarsh Shetti successful Bengaluru; Editing by Krishna Chandra Eluri)