HD Hyundai Signs Deal to Modernize U.S. Shipyards

SEOUL, South Korea, July 29, 2026 /PRNewswire/ -- HD Hyundai is launching a major initiative to modernize U.S. shipyards.

HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for HD Hyundai's shipbuilding business, said on Monday, July 29, that it recently signed a memorandum of understanding (MOU) with Fraser Industries LLC to cooperate on shipyard modernization projects aimed at revitalizing the U.S. shipbuilding industry.

The signing ceremony, held in Washington, D.C., was attended by President & CEO Kim Hyung-kwan and Technology Advisor Shin Jong-gye of CEO of HD Korea Shipbuilding & Offshore Engineering, CEO Patrick V. Kelly of Fraser Industries, and other executives and officials from both companies.

The agreement marks the first project undertaken by HD Korea Shipbuilding & Offshore Engineering since the company added "development and supply of digital engineering and manufacturing platforms" to its business objectives in March and designated comprehensive shipyard construction solutions as a future growth driver.

Under the agreement, the two companies plan to collaborate across the entire shipyard lifecycle, from construction to operations, including shipyard assessments and solution development; yard and factory layout design; deployment of robotics and automation systems; optimization of costs, schedules, quality and productivity; implementation of AI- and data-driven digital solutions; and expansion of supply chains and workforce training.

To support these efforts, HD Korea Shipbuilding & Offshore Engineering plans to provide an integrated package of technologies and expertise required to build smart shipyards, including shipyard design and construction know-how, production and operating systems, and data management capabilities, effectively transferring its expertise in how to build and operate a shipyard.

In particular, HD Korea Shipbuilding & Offshore Engineering and Fraser Industries plan to sign a contract this year for a shipyard modernization consulting program and use Fraser Shipyards, located on the shores of Lake Superior, one of the Great Lakes, as a demonstration model for revitalizing the U.S. shipbuilding industry. The Great Lakes region has traditionally served as a hub for shipbuilding, maintenance and repair activities in the United States and is home to a key maritime supply chain.

The Great Lakes region is emerging as a key hub for the revitalization of the U.S. shipbuilding industry, aligning with the U.S. government's Maritime Prosperity Zones initiative. Fraser Shipyards, Fincantieri Marine Group and Donjon Marine have formed the Great Lakes Shipyard Alliance and are jointly participating in projects such as the U.S. Coast Guard's new light icebreaker program.

Patrick V. Kelly, CEO of Fraser Industries, said "I am very pleased to join hands with HD Hyundai, which possesses world-class technological capabilities, to introduce advanced techniques across shipyard operations," adding, "The cooperation between the two companies will be an important starting point for the revitalization of the U.S. shipbuilding industry."

Kim Hyungkwan, President & CEO of HD Korea Shipbuilding & Offshore Engineering, said. "We plan to provide the know-how needed from shipyard design through to operation so as to support Fraser Shipyards in becoming a hub for the rebuilding of the U.S. shipbuilding industry," adding, "Going forward, we will expand the scope of cooperation into various areas and become a reliable partner for the U.S. shipbuilding industry."