HD Hyundai signs US shipyard deal with Kiewit
Hyundai projects about 3,000 US jobs from the planned yard, while the partners plan to explore commercial shipbuilding and Navy support-vessel work.
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Hyundai projects about 3,000 US jobs from the planned yard, while the partners plan to explore commercial shipbuilding and Navy support-vessel work.
HD Hyundai said on October 23, 2026, that it had signed an agreement with Kiewit to build a US shipyard and establish a joint venture. Hyundai expects the yard to increase US shipbuilding capacity, help revive the industry and create about 3,000 US jobs.
The agreement follows South Korea’s 2025 pledge to invest $150 billion in US shipbuilding. That pledge formed part of $350 billion in investment commitments for US projects agreed in exchange for US tariff cuts.
The agreement covers the shipyard and joint venture, while potential vessel-building work remains exploratory. Hyundai said the joint venture would examine opportunities to build commercial ships and US Navy support vessels. It would also explore supplying ship blocks and modules—sections and assemblies used to build ships—to US shipyards.
Under the announced timetable, construction is planned to begin in 2027. Hyundai expects the shipyard to start operations in 2029.
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