Presidential Office: In-Depth Shipbuilding Talks with U.S., Negotiation Direction Shared with Private Sector

Kim Yongbeom, Director of the Policy Office, is briefing at the Emergency Economic Inspection TF meeting chaired by President Lee Jae-myung at the Yongsan Presidential Office press conference room on the 30th. Photo by Yonhap News

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The Office of the President announced that in the course of tariff negotiations with the United States, in-depth discussions are taking place regarding the shipbuilding sector. It has been reported that the government is jointly responding to the U.S. tariff negotiations, including communicating the direction of the negotiations to Korean companies that have been urgently dispatched to the United States.

On July 30, Kim Yongbeom, Chief Presidential Secretary for Policy, stated during a briefing at the Yongsan presidential office, "Korea is focusing on developing a package centered on areas where we can bear the burden and achieve mutually beneficial outcomes between the United States and Korea, and we are holding substantial discussions." He added, "In the shipbuilding sector, we are conducting in-depth consultations." He further explained, "We are continuing discussions on semiconductors, secondary batteries, and bio as well."

Kim Jeonggwan, Minister of Trade, Industry and Energy, reportedly proposed a shipbuilding cooperation project named 'MASGA' at the New York residence of Secretary Howard Lutnick on July 25. MASGA stands for 'Make American Shipbuilding Great Again,' and is said to include large-scale U.S. investments by Korean private shipbuilders, along with various forms of financial support such as loans and guarantees.

The government is forming a joint front with private companies. Chief Secretary Kim stated, "The government is sharing the basic direction of the overall framework of the negotiations when necessary," and added, "Private sector representatives can also meet with senior government officials, and we are receiving information from what they hear there."

However, Chief Secretary Kim clarified, "We are not asking companies for help with the U.S. negotiations," and commented, "For the chairmen of these companies, this is a very important matter, so they are voluntarily traveling to the United States and making efforts."

Previously, Kim Dongkwan, Vice Chairman of Hanwha Group, departed for Washington, D.C. on July 28 to discuss the MASGA project. On the following day, July 29, Lee Jaeyong, Chairman of Samsung Electronics, also left for the United States, and later that afternoon, Chung Euisun, Chairman of Hyundai Motor Group, is scheduled to depart for the United States as well.

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