Key facts
- New U.S. Ambassador to South Korea Michelle Steel praised South Korea's shipbuilding cooperation with the U.S.
- Steel described the cooperation as expanding the bilateral alliance into a 'new' and 'important' territory.
- The remarks were made during the opening of the Korea-U.S. Shipbuilding Partnership Center (KUSPC) in Washington.
- South Korea committed $150 billion to invest in the U.S. shipbuilding sector as part of a trade and investment deal.
- Steel stated that strengthening the alliance is her top priority.
New U.S. Ambassador to South Korea Michelle Steel lauded South Korea's shipbuilding cooperation with the United States, describing it as an expansion of the bilateral alliance into "new" and "important" territory. Speaking at the opening of the Korea-U.S. Shipbuilding Partnership Center (KUSPC) in Washington, Steel emphasized that reinforcing the alliance is her top priority.
Steel's remarks highlighted South Korea's commitment to invest $150 billion in the U.S. shipbuilding sector, a key component of last year's bilateral trade and investment deal. She cited specific examples of cooperation, including Hanwha Group's $5 billion infrastructure plan for a Philadelphia shipyard, HD Hyundai's investment fund with Cerberus Capital Management, and Samsung Heavy Industries' partnership with Vigor Marine Group. These initiatives are part of South Korea's "Make American Shipbuilding Great Again (MASGA)" initiative.
The ambassador stated that the KUSPC's launch exemplifies the potential of the two countries' partnership when aligning industrial strategies. She views this cooperation as a visible manifestation of the relationship's strength and part of a broader vision for a fair, reciprocal, and resilient trade relationship.
Steel, a former two-term congresswoman, is set to depart for South Korea the following week, aiming to assume her post in Seoul by the end of the month. She succeeds Philip Goldberg, who departed in January of the previous year, and is the second Korean American to serve as the U.S. top envoy to South Korea.