Korea investing 5 billion dollars to re-open a US naval shipyard in Philly

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South Korea wants to modernize the US navy

South Korea proposed a shipbuilding project worth tens of trillions of won to US during the tariff negotiations, Yonhap News says, citing unidentified sources.

South Korea’s Industry Minister Kim Jung-kwan explained the shipbuilding industry cooperation proposal, the so-called “Make American Shipbuilding Great Again (MASGA),” during the negotiations held at US Commerce Secretary Howard Lutnick’s residence in New York on July 25

The project, named after adding “shipbuilding” to US President Donald Trump’s signature slogan of MAGA, is comprised of a package that includes large-scale investment in US by Korean shipbuilders and financial support such as loans and guarantees

(source Bloomberg)


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