The US is betting on South Korea to revive its ailing shipbuilding industry The US Navy's shipbuilding industry is mired in a systemic crisis, with America producing less than 1% of the world's ships, while China boasts more than 230 times its shipbuilding capacity. China is expected to capture more than three-quarters of new commercial orders by tonnage this year. South Korea, a distant second with about 16 percent of orders, has emerged as the U.S.'s key partner in the effort to reverse the decline as Trump pushes for a "golden fleet," the WSJ reports. Hanawa Ocean has invested around $350 million in the Philadelphia shipyard since it acquired it in 2024; It aims to approve the warship building facility by 2028. Hanawa was recently selected to build a special utility vehicle for Trump's Gold Dome missile defense system. South Korea has committed $150 billion to US shipbuilding as part of its trade agreement with Trump. Navy in Israel, but in a struggle to revive its shipbuilding, the White House wants to allow foreign shipyards to build a limited number abroad if they make significant investments in the US. substack | talk.

The US is betting on South Korea to revive its ailing shipbuilding industry The US Navy's shipbuilding industry is mired in a systemic crisis, with America producing less than 1% of the world's ships, while China boasts more than 230 times its shipbuilding capacity. China is expected to capture more than three-quarters of new commercial orders by tonnage this year. South Korea, a distant second with about 16 percent of orders, has emerged as the U.S.'s key partner in the effort to reverse the decline as Trump pushes for a "golden fleet," the WSJ reports. Hanawa Ocean has invested around $350 million in the Philadelphia shipyard since it acquired it in 2024; It aims to approve the warship building facility by 2028. Hanawa was recently selected to build a special utility vehicle for Trump's Gold Dome missile defense system. South Korea has committed $150 billion to US shipbuilding as part of its trade agreement with Trump. Navy in Israel, but in a struggle to revive its shipbuilding, the White House wants to allow foreign shipyards to build a limited number abroad if they make significant investments in the US. substack | talk.