South Korea’s shipyards, busier than they’ve been in years, are central to Donald Trump’s push to revive U.S. shipbuilding. Under a trade agreement struck with President Lee Jae Myung, Korea pledged $150 billion to help rebuild America’s maritime power. The goal: weaken China’s hold over the global shipbuilding industry, where it now commands 60% of production.

MASGA plan unveiled

Trump has branded the initiative “Make American Shipbuilding Great Again” (MASGA). The deal envisions Korean firms not only supplying vessels but also building ships in U.S. yards, training American workers, and transferring technology. “We’re gonna go back into the shipbuilding business again,” Trump declared at a joint meeting with Lee.

Korea’s opportunity

For Seoul, the pact offers new growth engines at a time when its shipyards are booked solid through 2028. U.S. contracts would give Korean builders stable revenues and deeper ties with the American Navy. Korean firms are already inking maintenance deals, buying U.S. shipyards, and positioning themselves as long-term partners in America’s maritime revival.

China in the crosshairs

The strategy also reflects Washington’s deep concern over China’s dominance. Earlier this year, Trump imposed extra docking fees on Chinese-built ships, causing chaos in global shipping before easing the levies. The move underscored U.S. intent to pressure shippers away from Chinese vessels and toward Korean and domestic alternatives.

Rough seas ahead

Yet experts warn the MASGA plan could run aground. Building ships takes decades, while Trump has just one term. Korea also faces labor shortages and rising wages, while China still enjoys cheap steel, manpower, and heavy state support. Korean yards are moving into advanced, greener ship technologies like ammonia- and methanol-fueled engines, betting innovation will keep them competitive.