South Korea Proposes $150B Plan to Revitalize US Shipbuilding, Counter China's Naval Power
China has emerged as the global leader in shipbuilding, boasting the largest fleet and controlling the world's top shipping company. Meanwhile, South Korea has proposed a $150 billion plan to revitalize America's maritime sector, aiming to counter China's growing naval power.
South Korea's proposal includes upgrading US shipyards and training American workers. Korean officials have suggested managing legal restrictions, such as supplying components from Korea or partially outfitting hulls in the US. This comes as China's shipbuilding industry has received substantial subsidies, capturing over half of the global market.
Historically, US foreign policy has been influenced by Alfred Thayer Mahan's ideas on naval expansion, dating back to 1890. Today, America faces its most significant great-power challenge since the Cold War, with China's growing naval power. Legal restrictions like the Byrnes-Tollefson Amendment and the Jones Act create uncertainty about foreign partnerships in US shipbuilding. To address this, the Partner with Korea Act was introduced, creating 15,000 visas for highly skilled Korean specialists to work in the US. The US and South Korea have agreed to establish a 'Korean Investor Desk' at the US Embassy in Seoul to help companies navigate visa issues, with the inaugural US-R.O.K. visa working group meeting having concluded.
South Korea's investment in US shipbuilding aims to bolster America's maritime capabilities and counter China's dominance. With legal hurdles and visa issues being addressed, the stage is set for increased cooperation between the two nations in the shipbuilding sector.
Read also:
- Orioles' 2025 Turnaround Powered by Late-Season Pitching Acquisitions
- The Cost of Speech is Zero, True Strength Lies in Unity
- Aiming to simplify the move towards cleaner automobiles, the newly established ministry plans to take direct action with Pannier-Runacher, Létard, and Vautrin at the helm.
- "The imperfect yet essential documentary, "Planet of the Humans," raises challenging and uncomfortable inquiries"