South Korean shipbuilding major explores investment options as Washington and Seoul deepen maritime cooperation.
South Korean shipbuilding giant HD Hyundai is considering acquiring or taking an equity stake in a US shipyard as part of efforts to advance the Korea-US shipbuilding cooperation programme known as MASGA. The move comes as both countries seek to strengthen shipbuilding capacity, supply chains, and industrial cooperation.
In a recent regulatory filing, HD Hyundai said it was reviewing several options, including acquiring and investing in US shipyards. The company added that it would disclose further details once the plans are finalized, or within a month.
Reports say talks involve several shipyards.
The development follows reports that HD Hyundai has been in discussions with two or three US shipyards. Potential locations reportedly include the San Diego region and the Texas Gulf Coast, although no transaction has been confirmed.
A proposed deal was reportedly expected to be announced during the opening of the Korea-US Shipbuilding Cooperation Centre in Washington in July. However, negotiations didn’t reach an agreement at the time, with differences over valuation reportedly emerging at the final stage. The company’s latest filing indicates that discussions remain active, keeping the possibility of a US shipyard acquisition on the table.
MASGA puts focus on US shipbuilding capacity.
The potential investment is closely linked to the MASGA initiative, which aims to expand cooperation between South Korea and the United States in the maritime and shipbuilding sectors.
The partnership focuses not only on vessel construction but also on strengthening supply chains, developing the workforce, and expanding research and development. At the July ceremony in Washington, Korean and US companies and institutions signed 15 memoranda of understanding covering these areas. For HD Hyundai, gaining a direct presence in the US shipbuilding industry could provide a practical base for participating in future projects while supporting the development of local manufacturing capabilities.
HD Hyundai has already taken steps towards greater cooperation with the US maritime sector. In 2025, the company signed a memorandum of understanding with private equity firm Cerberus Capital Management and the Korea Development Bank to establish a Korea-US maritime joint investment programme. The proposed programme identified US shipyard acquisition and modernization among its priority investment areas.
Any acquisition would therefore represent an extension of an investment strategy that has been developing over the past year rather than an isolated move. For now, HD Hyundai has not identified a target shipyard or disclosed financial terms. The company’s statement also makes clear that the investment remains under consideration. For the moment, however, the focus remains on negotiations and whether HD Hyundai can turn its proposed US shipyard investment into a concrete agreement.
