Big Take Trump Has a Shipbuilding Dream. Can South Korea Make It a Reality?
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Aug 27, 2025 In this discussion, Bloomberg reporter Weilun Soon shares insights from his visit to Hanwha Ocean shipyard in South Korea. He delves into the bustling South Korean shipbuilding industry and its significance in U.S.-South Korea trade relations. The podcast explores how a $150 billion investment could support U.S. shipbuilding ambitions while examining the emotional connections workers have to their creations. Weilun also highlights the competitive pressures from China and the complexities of naval collaboration amidst shifting global dynamics.
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Shipyard As A Factory Town
- Weilun Soon describes Hanwha Ocean as a factory town with towering goliath cranes and workers in coveralls.
- He compares huge ship blocks to Lego pieces that assemble into vessels as tall as the Empire State Building laid sideways.
Korea's Shipyards Are Backed Up
- Korean shipyards are fully booked and in high demand through 2028, driven by a U.S.–Korea trade pivot.
- The pact aims to curb China's shipbuilding dominance by redirecting orders and investment toward Korea and the U.S.
Strategic U.S.–Korea Alignment
- The U.S. wants South Korea to boost American shipbuilding capacity while buying Korean ships.
- This aligns with Washington's goal to reduce reliance on China's maritime manufacturing power.