S. Korea, U.S. sign MOU to advance shipbuilding cooperation

S Korea-US-shipbuilding

S. Korea, U.S. sign MOU to advance shipbuilding cooperation

By Song Sang-ho

WASHINGTON, May 8 (Yonhap) -- South Korea and the United States on Friday signed a memorandum of understanding (MOU) to advance bilateral shipbuilding cooperation, the U.S. International Trade Administration said.

South Korea's Ministry of Trade, Industry and Resources (MOTIR) and the U.S. Department of Commerce inked the MOU to establish the South Korea-U.S. Shipbuilding Partnership Initiative (KUSPI), it said.

KUSPI is a new platform to strengthen bilateral cooperation in commercial shipbuilding, workforce development, industrial modernization, and maritime manufacturing investment.

This file photo shows a shipyard of Hanwha Ocean Co. in Geoje, South Korea. (Yonhap)