HD Hyundai will establish a multibillion-dollar investment program in partnership with a U.S. private equity firm to help rebuild the U.S. shipbuilding industry, as part of the “MASGA” project.

The company announced on Aug. 25  that it had signed a memorandum of understanding at the Korea-U.S. manufacturing partnership ceremony held at the Willard InterContinental Hotel in Washington, D.C. The MOU was signed with Cerberus Capital and the Korea Development Bank  to create a Korea-U.S. joint investment program for the shipbuilding sector.

The event was co-hosted by U.S. Secretary of Commerce Howard Lutnick and Minister of Trade, Industry and Energy Kim Jung-kwan, and attended by HD Hyundai Senior Vice Chairman Chung Ki-sun, Cerberus Capital CEO Frank Bruno, and KDB Senior Executive Vice President Kim Bock-kyu.

The joint shipbuilding investment program aims to rebuild and strengthen maritime capabilities of the United States and its allies across shipbuilding, marine logistics infrastructure, and advanced marine technologies. Key areas of investment include acquiring and modernizing U.S. shipyards, investing in equipment manufacturers to reinforce supply chains, and developing advanced shipbuilding technologies such as autonomous navigation and artificial intelligence.

HD Hyundai will participate as an anchor investor and technical advisor, supporting the program’s successful operation. Leveraging its accumulated expertise in shipbuilding and marine industries, the company will assess the technical feasibility, competitiveness, and growth potential of investment targets and assist in investment decision-making.

Cerberus Capital will serve as the program’s operator, overseeing investment strategies and overall management, while the KDB will design participation structures for South Korean investors and support fundraising to ensure successful execution.

This partnership marks the first tangible follow-up to the Korea-U.S. summit, bringing bilateral cooperation in shipbuilding into practical implementation. Senior Vice Chairman Chung stated, “Our partnership with Cerberus Capital will not only provide substantial support to the MASGA project, which aims to revitalize shipbuilding in our ally the United States, but also open new markets and growth opportunities for South Korea’s shipbuilding sector. HD Hyundai will leverage its accumulated shipbuilding expertise and digital capabilities to support the modernization and advancement of U.S. shipbuilding while helping both countries open a new chapter in the global shipbuilding industry.”

Cerberus Capital CEO Bruno added, “This program will play a key role in creating new opportunities by combining investment with operational and technical expertise. We are deeply grateful for the bipartisan efforts of President Trump and the U.S. Congress to rebuild the maritime industry, as well as South Korea’s bold investment and support for MASGA.”

KDB Senior Executive Vice President Kim Bock-kyu said, “The joint investment program promoted by HD Hyundai and Cerberus is a new model of cooperation in the shipbuilding industry and a product of deep trust and partnership between South Korea and the United States. The KDB will actively support the successful establishment of this program as a representative of South Korea’s financial sector.”

Source:Business Korea