▶ Hosted the Korea–U.S. Shipbuilding Leaders Forum to lay the groundwork for a strategic shipbuilding and maritime alliance ▶ Private-public sector initiatives for Korea-U.S. shipbuilding collaboration take shape—second forum scheduled in the U.S. this October ▶ “In awe of the remarkable capability of Korean shipyards. Expanding Korea–U.S. cooperation will be a tremendous opportunity for the U.S. shipbuilding sector” ▶ Chung Kisun, Executive Vice Chairman of HD Hyundai: “This is the starting point of a maritime alliance—we must move forward together for the advancement of both nations’ shipbuilding industries.” HD Hyundai is exploring avenues for mutual cooperation with shipbuilding and maritime experts from Korea and the U.S. HD Hyundai announced on Tuesday, June 24, that it hosted the Korea–U.S. Leaders Forum on Education and Research on Shipbuilding at its Global R&D Center in Pangyo, Korea. The forum was organized as a follow-up to the trilateral Memorandum of Understanding (MOU) signed in July last year between HD Hyundai, Seoul National University (SNU), and the University of Michigan (UM) to promote talent development in the shipbuilding industry. Previously, HD Hyundai recognized the U.S. government’s strong commitment to revitalizing its shipbuilding industry and expressed its support for efforts to strengthen the sector and bolster national security. In line with this, HD Hyundai partnered with SNU and UM to launch a joint initiative to foster future talent in shipbuilding. Co-hosted by HD Hyundai and Seoul National University, and supported by the Ministry of Trade, Industry and Energy (MOTIE), the forum marks the first since the launch of the new Korean administration in which experts from both countries have gathered to discuss practical avenues for collaboration. As a tangible milestone in public-private cooperation, the event drew considerable attention from industry stakeholders. The forum was attended by distinguished including Andrew Gately, Commercial Minister-Counselor of the U.S. Embassy in Korea; Lee Seung-ryeol, Industrial Policy Deputy Minister at the Ministry of Trade, Industry and Energy; and Chung Kisun, Executive Vice Chairman of HD Hyundai. The forum brought together a panel of leading experts: from Korea, professors representing seven top universities, including SNU and KAIST; and from the U.S., professors from six prestigious institutions, such as UM and MIT. In total, more than 40 shipbuilding and marine engineering specialists participated in the event. The event began with opening remarks by Chung. “This collaboration marks the beginning of a true maritime alliance—one that goes beyond talent exchange to sharing technologies and visions between Korea and the United States,” he said. “Let us work together toward the growth and prosperity of both nations’ shipbuilding industries.” Keynote speeches from both countries followed. Professor David Singer of the University of Michigan, speaking on behalf of the U.S. delegation, remarked, “I find myself in awe of the remarkable capability of Korean shipyards to produce the world’s largest and most intricate vessels in record time. Investing in talent is absolutely crucial for rejuvenating the U.S. shipbuilding industry, and the potential for expanding our collaboration with HD Hyundai is an exceptional opportunity we cannot afford to overlook.” In the afternoon, the forum continued at SNU, where participating universities and institutions presented their respective curricula in shipbuilding and maritime engineering. The session provided a platform for sharing best practices and exploring joint educational strategies, while also highlighting the importance of binational collaboration in cultivating talent. On the final day of the forum, Wednesday, June 25, discussions will focus on joint research themes, including “Smart Yard” technologies, aimed at digital transformation in shipbuilding. Ahead of the forum, on Monday, June 23, U.S. participants visited HD Hyundai Heavy Industries’ headquarters in Ulsan, where they toured both the commercial and naval & special shipyards and were briefed on the company’s smart shipyard initiatives and autonomous navigation technologies. The second Korea–U.S. Shipbuilding Leaders Forum is scheduled to take place in the United States in October.  

▶ An exclusive Memorandum of Understanding (MOU) between HD Hyundai and Tampa Ship, part of the Edison Chouest Offshore family of affiliated companies, was executed to collaborate on commercial shipbuilding ▶ U.S.-built, LNG dual-fuel containerships to be delivered by 2028 with support from HD Hyundai in design, procurement, and shipbuilding technology ▶ Strengthening U.S. shipbuilding capacity and advancing shared industrial and national security goals HD Hyundai announced the launch of a strategic shipbuilding collaboration in the United States centered on Tampa Ship, a major U.S. shipyard operating within the Edison Chouest Offshore (ECO) family of companies, to construct containerships in the United States. HD Hyundai announced on Sunday, June 22, that it recently held a signing ceremony with U.S.-based Tampa Ship LLC, a company within the Edison Chouest Offshore family of affiliated companies (hereinafter referred to as ECO), to establish a strategic and comprehensive collaboration that outlines a multi-faceted alliance to build medium-sized LNG dual-fuel containerships at Tampa Ship, with first deliveries targeted for 2028. As part of the collaboration, HD Hyundai will provide critical support to Tampa Ship in vessel design, procurement of specialized equipment, and transfer of advanced shipbuilding technology. HD Hyundai will also participate in the fabrication of certain ship blocks and invest in key technical infrastructure to enhance the capability of Tampa Ship. Tampa Ship, located in Tampa, Florida, has a long legacy in U.S. shipbuilding and is one of five shipyards operated by ECO across the country. Through this initiative, Tampa Ship is positioned to lead the revitalization of U.S. commercial shipbuilding and to help address the shortage of domestically constructed vessels. The signing ceremony was held on Friday, June 19 and was attended by Choi Hannae, Vice President, Head of Corporate Planning Division at HD Korea Shipbuilding & Offshore Engineering, and Dino Chouest, Executive Vice President of ECO. According to Clarksons Research, U.S. yards received orders for only three 3,600 TEU-class containerships between 2022 and 2024. This collaboration between HD Hyundai and Tampa Ship aims to address this gap and re-establish the United States as a competitive force in the global shipbuilding industry. Through this collaboration, the parties also expressed intent to explore further opportunities beyond commercial containerships, including collaboration on other potential fleet classes as well as heavy industrial port equipment, which are all integral to maritime security and domestic infrastructure resilience. “The United States is a strong ally and an important business partner for us,” stated an official from HD Hyundai. “Through our collaboration with ECO, we aim to actively support U.S. efforts to revitalize its shipbuilding industry and strengthen national security.” This initiative follows HD Hyundai’s ongoing efforts to deepen cooperation with U.S. maritime and defense stakeholders. Earlier this year, the company entered into agreements with Huntington Ingalls Industries and Fairbanks Morse Defense, and continues to support academic partnerships, including with the University of Michigan and Seoul National University, to foster future talent in naval architecture and marine engineering.  

▶ HD Korea Shipbuilding & Offshore Engineering, HD Europe Research & Development Center, and HD Hydrogen signs Joint Development Project (JDP) agreement with European classification society and cruise operator ▶ Solid Oxide Fuel Cell (SOFC) system to offer both environmental and economic benefits by reducing carbon emissions and improving energy efficiency ▶ Making it suitable for high-power-consuming cruise ships with low noise and vibration, enhancing competitiveness in the European market ▶ “We aim to lead global maritime decarbonization efforts with our high-efficiency, low-carbon fuel cell technology” HD Hyundai announced the development of fuel cell technology for cruise ships in line with the global decarbonization trend. HD Hyundai recently stated that its affiliates—HD Korea Shipbuilding & Offshore Engineering, HD Europe Research & Development Center, and HD Hydrogen— recently signed a Joint Development Project (JDP) agreement with DNV, a leading global classification society, and TUI Cruises, one of Germany’s leading cruise operators. The project aims to explore the application of Solid Oxide Fuel Cell (SOFC) systems on cruise vessels. SOFC is a high-efficiency fuel cell that generates electricity by reacting hydrogen—extracted from sources such as natural gas or ammonia—with oxygen. Since it produces electricity without combustion, it significantly reduces carbon and pollutant emissions. Compared to conventional engine-based power generation systems, SOFC offers superior efficiency, achieving both environmental sustainability and economic viability. It produces a low level of noise and vibration while providing high power generation efficiency, making it especially suitable for cruise ships that require large amounts of electricity. HD Hyundai plans to secure global competitiveness by developing SOFC technology applicable to cruise ships, with a focus on the European market—where environmental regulations are stringent and demand for such vessels is high. The market outlook is also promising. According to global market research firm Grand View Research, the global SOFC market is expected to grow at a compound annual growth rate (CAGR) of 40.7% through 2030, reaching approximately USD 7.12 billion (KRW 9.81 trillion), driven by increasing demand and investment in clean energy. As a first step, HD Korea Shipbuilding & Offshore Engineering and the HD Europe Research & Development Center will establish safety design standards for applying SOFC systems to cruise ships over an eight-month period from June this year to February next year. HD Hydrogen, an affiliate of HD Korea Shipbuilding & Offshore Engineering specializing in hydrogen fuel cell technology, will analyze the performance of its proprietary SOFC systems under various operating conditions based on its core technical data. In addition, HD Hyundai will develop technologies to recover and reuse waste heat generated by SOFC systems, which operate at high temperatures ranging from 600°C to 1,000°C. The company also plans to explore solutions to partially reduce carbon emissions from SOFC systems by leveraging carbon capture and storage (CCS) technologies. As part of the project, DNV will support regulatory compliance and contribute to overall safety from the initial design onward. TUI Cruises will provide cruise ship specific data relevant to SOFC application, along with installation requirements and operational specifications necessary for actual deployment. A representative from HD Hyundai stated, “This international joint development project marks a significant milestone in demonstrating HD Hyundai’s world-class decarbonization technology for ships in the European market. We hope to lead the maritime decarbonization initiative through our low-carbon, high-efficiency fuel cell technology.” Meanwhile, HD Hyundai established HD Hydrogen last year as part of its effort to enter the hydrogen fuel cell market. The company is currently collaborating with various global shipping companies to expand the application of SOFC systems across multiple types of vessels.