S. Korea-US 'MASGA' Project Launches as New Tariff Rates Loom

[Anchor]

Following the US Supreme Court ruling that America's reciprocal tariffs were unlawful, alternative tariffs imposed by President Trump are set to expire on the 24th, US time. Stronger new tariffs are expected to be imposed today or tomorrow, while the South Korea-US shipbuilding cooperation project, MASGA, has officially set sail.

Correspondent Jeon Byeong-nam reports from Washington.

[Reporter]

Hats bearing the slogan "MASGA," meaning "Make American Shipbuilding Great Again" through cooperation with South Korea, are placed at each seat.

The South Korea-US Shipbuilding Cooperation Center was launched in Washington last night, Korea time.

The event was attended by about 130 people, including Minister of Trade, Industry and Energy Kim Jung-kwan, South Korean Ambassador to the US Kang Kyung-wha, US Secretary of Commerce Howard Lutnick, and US Ambassador to South Korea Michelle Steel.

Minister Kim Jung-kwan evaluated the launch of the center as a tangible outcome of South Korea-US cooperation.

[Kim Jung-kwan / Minister of Trade, Industry and Energy : More importantly, this is a symbol of South Korea's strong commitment to supporting the U.S. shipbuilding industry. South Korea strongly supports President Trump's "American Maritime Action Plan."]

In particular, he stated that naval vessels and liquefied natural gas carriers will be built in the US, pledging to establish a robust shipbuilding supply chain in the country.

Previously, the South Korean government and the US agreed to channel 150 billion dollars out of the 350 billion dollar investment in the US, equivalent to 224 trillion won, into the shipbuilding sector.

US Commerce Secretary Howard Lutnick effectively pressured for concrete investment and production outcomes, such as domestic ship production volumes in the US.

[Howard Lutnick / US Secretary of Commerce : Just talking about it means nothing. It's not about talking about producing ships in America; it's about actually building ships inside America.]

Stating that all types of naval vessels and commercial ships must be built within the US, he also expressed willingness to provide active support.

[Howard Lutnick / US Secretary of Commerce : Call the Department of Commerce. We will clear away all regulations so that you can build ships in America.]

With energy-related investment project plans for the US announced and shipbuilding cooperation moving into full swing, the US is scheduled to announce new tariff measures targeting 60 trade partners, including South Korea, as early as today.

The South Korean government maintains its stance that the tariff rate must not exceed the 15 percent agreed upon last year, and whether it can breakthrough US tariff pressure through investment in the US remains the key challenge.

(Camera Reporter: Park Eun-ha | Video Editor: Choi Hye-young | Designer: Shim Su-hyun)
※ Please note: This article was translated by AI and may contain errors.