HD Hyundai Signs Deal with Kiewit to Build US Shipyard, Create 3,000 Jobs

HD Hyundai Co said Friday it signed an agreement with Kiewit Corp to begin building an advanced US shipyard next year, with operations expected to start in 2029 and about 3,000 domestic jobs created. Construction is slated to begin in 2027, and the two companies will form a joint venture. The venture will pursue US Navy support vessel work, commercial ship opportunities, and supply ship blocks and modules to US shipyards. HD Hyundai said the project is expected to boost US shipbuilding capacity and help revive the industry. The deal follows South Korea's pledge to invest $150 billion in the US shipbuilding sector, part of $350 billion in investment funds Seoul agreed to commit to US projects in return for winning US tariff cuts last year.