HD Hyundai and Kiewit to build new US shipyard, creating 3,000 jobs

· Shipping · United States · South Korea

South Korea's HD Hyundai said Friday it has signed a deal with US construction and engineering firm Kiewit Corp to start building an advanced US shipyard next year, with operations expected to begin in 2029 and about 3,000 domestic jobs created. The project marks a shift in South Korea's push to help rebuild American shipbuilding: rather than investing in existing yards, the partnership aims to develop entirely new production capacity. Seoul has been deepening cooperation with Washington on shipbuilding as the US seeks to revive a sector long outpaced by Asian yards. For the global industry, the venture adds a new entrant to commercial and naval shipbuilding capacity in the US, though the yard will not produce vessels until the end of the decade.

Why it matters：The venture shows allied shipbuilders moving from investment to greenfield capacity in the US, a trend that could reshape global shipbuilding competition and naval supply chains over the next decade.

Key points

  • HD Hyundai signed the deal with Kiewit Corp, with construction starting next year
  • Operations targeted for 2029, creating about 3,000 US jobs
  • Marks a shift from investing in existing US yards to building new capacity

Sources (original reporting)

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