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

HD Hyundai Co has announced a partnership with Kiewit Corp to construct a new advanced shipyard in the United States, set to commence operations in 2029 and generate approximately 3,000 domestic jobs. The venture aims to enhance US shipbuilding capabilities and contribute to the revival of the industry. Hyundai and Kiewit will explore prospects in both commercial ships and military support vessels.

As part of a broader agreement, South Korea has pledged to invest $150 billion in the US shipbuilding sector as part of $350 billion in investments the country plans to make in US projects in exchange for US tariff reductions. Construction of the shipyard will begin in 2027, with the companies also establishing a joint venture to investigate opportunities in building US navy support vessels, commercial ship projects, and supplying ship blocks and modules to US shipyards.

Hyundai asserts that the new shipyard will rejuvenate the US shipbuilding sector and strengthen Korea-US collaboration in this field.