Trump namedrops Korean shipbuilder for ‘Golden Fleet’ initaitive

Korean shipbuilders and defense firms are preparing to join U.S. President Donald Trump’s so-called Golden Fleet battleship initiative, as bilateral shipbuilding cooperation between Korea and the United States — dubbed MASGA, or “Make American Shipbuilding Great Again” — begins to gain full momentum.

“Last week, the Navy announced a brand new class of frigate, and they’re going to be working with South Korean company Hanwha,” Trump said in a news conference at Mar-a-Lago as he unveiled plans to build a new class of frigates. Shares of Hanwha Ocean surged 12.49 percent to 123,400 won ($83) in Seoul trading the same day.

A Hanwha Ocean representative said the remarks appeared to outline how the U.S. president intends to utilize facilities such as Philly Shipyard and Austal, in which Hanwha is the largest shareholder.

“We are ready to build all types of vessels required by the U.S. Navy,” the representative said. The new frigates will be designed based on the Legend-class cutters built by Huntington Ingalls Industries, the largest U.S. naval shipbuilder. While Huntington Ingalls will serve as the lead yard, the U.S. Navy plans to contract additional frigate construction to multiple shipyards to accelerate production.

“Current U.S. production capacity alone cannot handle this, so they will inevitably reach out to other Korean shipbuilders as well,” the source said.

HD Hyundai Heavy Industries and Samsung Heavy Industries are already building cooperative frameworks with U.S. partners. An HD Hyundai Heavy Industries representative said Trump had stressed the urgent need for naval vessels and noted that the company, which already has a cooperative relationship with Huntington Ingalls, is preparing to provide shipbuilding technology support. The official added that the company is also considering options such as acquiring a local shipyard together with U.S. private equity firm Cerberus Capital Management.

A Samsung Heavy Industries spokesperson said the company plans to submit a joint bid with U.S. shipbuilder Nassco for the U.S. Navy’s next-generation logistics support ship program.

Korean defense companies are also busy seeking new avenues of cooperation under the Golden Fleet initiative. As the United States moves to expand its military capabilities on an accelerated large scale, Korean defense firms stand out for their strengths in scale, speed and cost-effectiveness.

A defense industry source said the Golden Fleet is expected to incorporate future-oriented weapons such as advanced naval guns, missiles, high-powered lasers and nuclear weapons — including sea-launched cruise missiles armed with nuclear warheads — allowing Korean firms to review areas where cooperation with U.S. defense contractors is possible.

“We have been receiving a growing number of inquiries from U.S. companies recently,” the source added.

Hanwha Systems has already secured a contract to supply an enhanced large area display for the U.S. Air Force’s F-15EX fighter jets manufactured by Boeing. A Hanwha Systems spokesperson said the company possesses not only aviation capabilities but also maritime technologies such as engine control, combat management and integrated bridge systems for commercial and naval vessels.

“Our goal is to rapidly enter the U.S. market for special-purpose vessels, including unmanned surface vessels and naval ships,” the spokesperson said.

Experts say the tailwind for Korean shipbuilding is likely to spread to the defense sector. Yun Ji-won, a professor of national security studies at Sangmyung University, said that while U.S. defense companies are far ahead in advanced weapons technologies, Trump’s push to build the Golden Fleet quickly and at scale makes expanded cooperation with overseas firms more likely. Yun added that Korean weapons systems are advantageous in that they are compatible with U.S. platforms, offer strong value and can meet delivery schedules reliably.

“Unlike German or French companies, Korean firms can also meet U.S. demands for local production and technology transfers, which is another key advantage,” she said.