Michelle Steel Hails U.S.-South Korea Shipbuilding Cooperation As 'Top Priority'

According to Yonhap, new U.S. Ambassador to South Korea Michelle Steel said South Korea's shipbuilding cooperation with the United States shows the alliance is expanding into a new and important area, and she called strengthening the partnership her top priority. Steel made the remarks at the opening of the Korea-U.S. Shipbuilding Partnership Center in Washington, which is meant to support the US$150 billion investment South Korea has pledged for the U.S. shipbuilding sector under last year's bilateral trade and investment deal. She cited Hanwha Group's $5 billion infrastructure plan for a shipyard in Philadelphia, HD Hyundai's multi-billion-dollar investment fund with Cerberus Capital Management, and Samsung Heavy Industries' strategic partnership with Vigor Marine Group. Steel also said the shipbuilding effort reflects a broader vision for a fair, reciprocal and resilient trade relationship between the two countries. She told Yonhap that she will depart for South Korea next week and may take up her post in Seoul as early as late this month.