Industry minister meets U.S. senators to discuss shipbuilding cooperation
SEOUL, Aug. 19 (Yonhap) -- Industry Minister Kim Jung-kwan met with visiting U.S. senators in Seoul on Tuesday to discuss ways to bolster bilateral cooperation between South Korea and the United States in shipbuilding and other sectors, Kim's office said.
In the meeting with Sen. Tammy Duckworth (D-IL) and Sen. Andy Kim (D-NJ), the Korean minister called for the lawmakers' attention to and support for South Korean companies' efforts to expand investment in the U.S., especially in Illinois and New Jersey, according to the Ministry of Trade, Industry and Energy.
Illinois and New Jersey house U.S. offices and manufacturing facilities of a number of Korean enterprises, including logistics firm CJ Logistics Corp., tech giant Samsung Electronics Co., home appliances maker LG Electronics Inc. and biotech firm SK biopharmaceuticals Co.
Industry Minister Kim also urged U.S. Congress' efforts to make sure the envisioned shipbuilding cooperation between the two countries can bear fruit, citing the Philly Shipyard located near New Jersey, which was acquired by Korea's Hanwha Group last year, as an example.
Seoul will be a "credible" partner with "world best" shipbuilding capabilities and technologies for Washington in its efforts to rebuild the shipbuilding industry, the minister stressed.
Last month, South Korea made a pledge to invest US$150 billion in the U.S. for bilateral shipbuilding cooperation as part of a tariff deal with the Donald Trump administration.
The ministry said Kim and the U.S. senators agreed Seoul and Washington should bolster their ties amid a fast-changing trade environment.
U.S. senators also met with Seoul's foreign and defense ministries, as well as the Defense Acquisition Program Administration to discuss the two countries' push for shipbuilding cooperation, according to the foreign ministry.
They also held talks with three major shipbuilders here -- Hanwha Ocean Co., HD Hyundai Co. and Samsung Heavy Industries Co. -- on Tuesday.
In the meeting, the shipbuilders called for easing regulations in the U.S. for successful cooperation, vowing to make efforts to expand technology and people-to-people exchanges with American shipbuilders to foster development of the U.S. industry, the ministry said.
In response, the American lawmakers said they will "proactively" review the requests made by the companies, noting the rebuilding of the American shipbuilding industry has emerged as a key security issue for the U.S.
The U.S. sealift fleets have been facing significant shortfalls, suffering frequent breakdowns, which could hinder the transport of troops and supplies in times of crisis, Duckworth said, expressing anticipation for the bilateral cooperation.
nyway@yna.co.kr
(END)
