HD Hyundai will act as an anchor investor and technology advisor, providing expertise to assess the feasibility and competitiveness of projects and to support investment decisions. Cerberus Capital will oversee strategy and management of the programme, while the Korea Development Bank will coordinate Korean investor participation.
“We believe that our collaboration with Cerberus Capital will provide practical assistance to Mars in its goal of rebuilding the shipbuilding industry of our ally, the United States, while also opening up new markets and growth opportunities for the Korean shipbuilding industry,” said Jeong Ki-sun, Senior Vice Chairman of HD Hyundai. “Based on our accumulated shipbuilding technology and digital capabilities, HD Hyundai will support the modernization and advancement of the U.S. shipbuilding industry and contribute to our two countries jointly opening a new chapter in the global shipbuilding industry.”
Frank Bruno, CEO of Cerberus Capital, stated, “We are thrilled to announce this unprecedented partnership with HD Hyundai to strengthen the U.S. shipbuilding industry. This program will play a key role in creating new opportunities by combining not only investment but also operational and technical capabilities.” He added, “We are grateful to President Trump and the U.S. Congress for their bipartisan efforts to rebuild the maritime industry, and we express our deepest gratitude to Korea for its bold investment and support of Masga.”
Kim Bok-gyu, Senior Vice President of the Korea Development Bank, commented, “This investment program, jointly promoted by HD Hyundai and Cerberus, is a new model of cooperation in the shipbuilding industry and a testament to the deep trust and partnership between Korea and the U.S. As a representative of the Korean financial community, the Korea Development Bank will actively support the successful establishment of this program.”
HD Hyundai noted this is the first tangible implementation of bilateral shipbuilding cooperation since the Korea-U.S. summit, highlighting it as a chance to establish a new model of collaboration. The company has also recently signed agreements with Huntington Ingalls Industries and Edison Chouest Offshore, as well as securing a contract for the overhaul of the USNS Alan Shepard, part of the U.S. Navy’s 7th Fleet.
