Ministry of Trade, Industry and Energy

[Naming Ceremony of LNG Carriers]

Korea’s Minister of Trade, Industry and Energy Kim Jung-kwan attended the naming ceremony for two very large liquefied natural gas (LNG) carriers on Thursday, August 14, 2025, at Hanwha Ocean’s Geoje Shipyard in Gyeongsangnam-do, Korea. This marked his first industrial site visit following his appointment to the ministerial position.

The two vessels are the first and second of five LNG carriers, worth a total of USD 1.2 billion, ordered in 2022 by a US LNG production company. They will be used for the global export of US-produced LNG. The vessels are categorized as very large LNG carriers, each with a capacity of 200,000㎥, enough to transport roughly one day’s worth of LNG consumption for the Korean population in a single shipment. They are symbolic examples of the “Make American Shipbuilding Great Again (MASGA)” collaborative project between Korea and the US, in that a Korean shipbuilder constructed vessels to transport US-sourced energy.

In his congratulatory speech, Minister Kim stated that the MASGA project would support the US shipbuilding industry through investment in shipyards, skilled workforce training, and re-establishment of supply chains, while creating new market opportunities for Korean companies. He added that the Korean government would promptly form a council of related agencies and work closely with the US government to produce tangible results.

[Visit to MRO Site of US Naval Vessel]

Following the naming ceremony, Minister Kim visited the maintenance, repair, and overhaul (MRO) site for Charles Drew, the 3^rd US naval vessel currently at Hanwha Ocean’s Geoje Shipyard. He encouraged Hanwha employees and crew members, stating, “Shipbuilding cooperation between Korea and the US begins with MRO for US vessels. We hope our shipbuilding technology will revive Charles Drew, just as we did with the previous two MRO projects.”

[Meeting with Hanwha Ocean’s Labor Union Leader]

Lastly, Minister Kim met with Kim Yoo-chul, Leader of Hanwha Ocean’s labor union and Chairman of the Daewoo Shipbuilding & Marine Engineering branch. The minister expressed his appreciation for the dedication of site workers who have contributed to the rebound of Korea’s shipbuilding industry. Emphasizing that workplace safety must be a shared priority for labor, management, and the government alike, he called for all parties to work together as a team to prevent industrial accidents and ensure safe shipyard operations.

In the first meeting of its kind between a MOTIE minister and a shipyard labor union leader, the minister also expressed hope that employees at the site would actively support the MASGA project, adding it would create new opportunities for Korea’s shipbuilders.