HD Hyundai to Anchor U.S. Shipbuilding Revamp Fund

HD Hyundai, South Korea’s largest shipbuilding and heavy industry group, has joined forces with Korea Development Bank (KDB) and U.S.-based Cerberus Capital on a joint investment initiative to rebuild and modernize America’s shipbuilding sector. HD Hyundai will serve as the program’s anchor investor.

The collaboration was formalized via a memorandum of understanding signed on 25 August in Washington, D.C. Attendees included Cerberus CEO Frank Bruno; HD Hyundai Vice Chairman and CEO Chung Kisung; KDB Vice Chairman and COO Kim Bock-kyu; U.S. Secretary of Commerce Howard Lutnick; and Korea’s Minister of Trade, Industry and Energy Kim Jung-Kwan.

Described as a multibillion-dollar effort, the program aims to reinforce U.S. shipbuilding and related naval capabilities while upgrading marine logistics infrastructure.

Planned initiatives include acquiring and modernizing American shipyards, expanding equipment manufacturing to strengthen supply chains, and advancing next-generation technologies such as artificial intelligence and autonomous navigation.

Within the partnership, HD Hyundai will contribute its shipbuilding expertise to assess opportunities and guide decision-making. KDB will provide support to Korean investors, while Cerberus Capital will lead overall investment management.