White House official backs South Korea, Japan shipbuilding cooperation amid $150 billion pledge

  • Russell Vought called for shipbuilding cooperation with South Korea and Japan.
  • South Korea committed $150 billion to shipbuilding cooperation with the United States.
  • Hanwha Group is pursuing major investments to acquire Philly Shipyard in Philadelphia.

A senior White House official called for shipbuilding cooperation with South Korea and Japan as U.S. President Donald Trump's administration seeks to rebuild the United States' shipbuilding industry and Navy. Russell Vought, director of the White House Office of Management and Budget, said Washington wants to learn how the two countries build ships and apply those practices domestically. He also urged the government to reward companies investing in the United States and broaden federal contracting opportunities beyond established prime contractors. Vought cited major investments by South Korea's Hanwha Group to acquire Philly Shipyard in Philadelphia. His comments came after South Korea committed $150 billion to shipbuilding cooperation with the United States as part of a $350 billion investment pledge under last year's trade agreement.

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