en.Wedoany.com Reported - HD Korea Shipbuilding & Offshore Engineering (HD KSOE) announced that it has signed a Memorandum of Understanding (MOU) with U.S.-based Fraser Industries LLC to provide integrated expertise in shipyard design and construction, operating systems, and data management, helping the United States revitalize its domestic shipbuilding industry.

Fraser Industries stated that this partnership will serve as a significant starting point for revitalizing the U.S. shipbuilding industry. HD KSOE President and CEO Kim Hyung-kwan noted that the company plans to provide all necessary knowledge from shipyard design to operations, helping Fraser Shipyards become a hub for rebuilding the U.S. shipbuilding industry. The two companies plan to sign a contract for a shipyard modernization consulting project by the end of this year, with Fraser Shipyards, located on the shores of Lake Superior, serving as the pilot project.

This collaboration is part of Seoul's "Make American Shipbuilding Great Again" (Masga) initiative, with Masga being the acronym for the initiative. The initiative was a key element of the tariff agreement between South Korea and the United States last year. Under the initiative, Seoul has committed to investing $150 billion to help revitalize the U.S. shipbuilding industry, an amount included within the broader $350 billion investment commitment to the United States.