HD Hyundai partners with US Fraser Industries to modernize shipyard

South Korean shipbuilder HD Hyundai, through its shipbuilding subsidiary HD Korea Shipbuilding & Marine, signed a memorandum of understanding with US shipyard operator Fraser Industries to modernize Fraser's 138‑year‑old shipyard in Wisconsin. The agreement, announced on July 27 and disclosed domestically on July 30, includes a complete package of shipyard design, construction, production and operational technologies, such as robotics, automation equipment and AI‑driven digital management systems.

The ceremony was attended by US Commerce Secretary Howard Lutnick and South Korea’s Minister of Trade, Industry and Energy Kim Jeong‑gwan. Fraser CEO Patrick Kelly said the U.S. shipbuilding sector has much to learn from Korean expertise and that the partnership will “leapfrog” the yard directly to the latest production technologies. HD Hyundai’s representative Kim Hyung‑gwan said the project will turn the Fraser yard into a test model for reviving U.S. shipbuilding and that further collaborations across other U.S. yards are planned. The initiative aligns with the U.S. government’s shipbuilding revitalization plan and the Jones Act requirements for domestically built vessels.