Hyundai Sets Sights on U.S. Shipbuilding Revival

South Korea's HD Hyundai Heavy Industries is actively pursuing the acquisition of a U.S. shipyard to engage in the revamp of America's shipbuilding industry, highlighted by a focus on warship production for the U.S. Navy.

The initiative aims to generate significant revenue by establishing a manufacturing base within the U.S., but faces obstacles such as skilled labor shortages and restrictive immigration policies.

Legislative changes in Washington could aid foreign shipbuilders like Hyundai in navigating existing laws, while the U.S. remains seen as a prime market for warship manufacturing.

(With inputs from agencies.)