A Hanwha-built LNG carrier at sea, equipped with advanced propulsion technology
Donald Trump, the dealmaker, has been hard at work attempting to restore balance to our trade with other countries. One of the countries with a significant imbalance in trade with the U.S. is South Korea. To avoid Trump's threatened tariffs (and wrath), South Korea's business lobby group announced yesterday that South Korean companies would invest $150 billion (a staggering number) in areas such as artificial intelligence, chips, biotechnology, shipbuilding, and nuclear power. While no specific breakdown or timeframe for the investments was announced, we are aware of one of the investments. Hanwha Group announced a $5 billion infrastructure plan for the Hanwha Philly Shipyard, where the company will complete (we hesitate to say "build") two new LNG export ships that are U.S. Jones Act compliant.
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