Korea Boosts US Shipbuilding Talks With Hanwha Support

South Korea is pushing to avert steep 'reciprocal tariffs' scheduled for August 1 by sending top officials, including Finance Minister Koo Yun-cheol and Industry Minister Kim Jung-kwan, to the US for high-level trade talks. Central to its proposal is the 'Make American Shipbuilding Great Again' (MASGA) initiative, a multibillion-dollar investment from Korean shipbuilders in the US, backed by both private and public Korean financial institutions. US Commerce Secretary Howard Lutnick has responded positively to the proposal, while South Korean conglomerate Hanwha Group is supporting the effort through plans to expand its US operations. The negotiations are critical as the Trump administration has indicated that 25 percent tariffs will be reinstated if no agreement is reached by the deadline. Both nations are aiming for a deal that strengthens industrial collaboration and supports American shipbuilding. Korean officials remain optimistic about achieving a mutually beneficial agreement.