Fraser Industries LLC Signs Shipyard Modernization Memorandum of Understanding with HD Hyundai to Advance U.S. Shipbuilding Revitalization
Fraser Industries LLC announced that it has signed a memorandum of understanding (MOU) on cooperation for shipyard modernization to revitalize the U.S. shipbuilding industry with HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company of HD Hyundai's shipbuilding division.
HD Hyundai will advance Fraser Shipyards as a hub for rebuilding the U.S. shipbuilding industry and will provide a shipyard modernization solution that includes shipyard design and construction expertise, production and operating systems as well as data management capabilities.
The signing ceremony, held in Washington, D.C., was attended by key executives from both companies, including Fraser Industries CEO Patrick V. Kelly and HD Korea Shipbuilding & Offshore Engineering CEO Kim Hyung-kwan as well as Shin Jong-Gye, Technology Advisor (Professor Emeritus at Seoul National University), who served as a bridge during the early stages of the collaboration.
Under the agreement, the two companies plan to cooperate across the entire cycle from shipyard construction to operation, including:
- Shipyard diagnosis and solution derivation
- Yard and plant layout design
- Introduction of robotics and automation equipment
- Optimization of cost, process, quality, and productivity
- Application of Al-and data-based digital solutions A supply-chain expansion and technical-workforce development.
Fraser Industries and HD KSOE plan to sign a supply contract for a "shipyard modernization consulting program" later this year.
