HD Hyundai and Kiewit Announce Plans for Next-Generation U.S. Shipbuilding Joint Venture

• New venture will combine world-class shipbuilding technology with large-scale American engineering and construction expertise to create a new model for U.S. shipbuilding and thousands of new American jobs
• Proposed HD Kiewit Shipbuilding venture envisions a new, purpose-built shipyard on an existing industrial site
• Construction targeted to begin in 2027 with full-scale operations targeted for 2029. First U.S. application of HD Hyundai’s ‘Future of Shipyard’ model
• Initial focus areas include naval auxiliary vessels and commercial vessels

HD Hyundai and Kiewit representatives pose after announcing plans to establish HD Kiewit Shipbuilding LLC, a proposed joint venture to develop a purpose-built shipyard in the United States. From left: Hannae Choi, executive vice president and head of the Corporate Planning Division of HD Korea Shipbuilding & Offshore Engineering; Andrew Hong, president and CEO of HD Hyundai USA; Chad Johnson, president of Kiewit Maritime Co.; and Kai Guo, vice president of Kiewit Maritime Co.

HOUSTON and SEOUL, South Korea, Oct. 22, 2026 (GLOBE NEWSWIRE) — HD Hyundai USA LLC (HD Hyundai) and Kiewit Maritime Co. (Kiewit), an affiliate of Kiewit Offshore Services, Ltd., today announced plans to establish HD Kiewit Shipbuilding LLC, a joint venture focused on developing an advanced shipyard.

The proposed venture would combine HD Hyundai’s shipbuilding technology and shipyard operating expertise with Kiewit’s large-scale fabrication and construction capabilities, supported by the experience and the facilities of its affiliate, Kiewit Offshore Services, Ltd. The companies intend to apply their complementary strengths to establish a competitive U.S. shipbuilding platform.

A New, Purpose-Built Shipyard

The companies envision developing a new, purpose-built shipyard on an existing industrial site. This approach would create modern vessel production facilities while making use of an existing industrial location with deep water and unrestricted access to the Gulf. Construction is targeted to begin in 2027, with full-scale operations targeted for 2029,.

At full operating scale, the shipyard could support up to 3,000 jobs. The companies also intend to support technical training and workforce development, while working together and strengthening U.S. supply chains for marine components and logistics. The facility will add new industrial capacity and new employment opportunities to the U.S. economy, while helping develop the skilled workforce that will be essential to the future of American shipbuilding.

Applying Advanced Shipbuilding Technology

Current plans envision incorporating HD Hyundai’s “Future of Shipyard” (FOS) model and digital manufacturing technology at the proposed facility. Advanced solutions—including digital twins, automated production systems and robotic welding—are intended to improve productivity, quality and safety throughout the shipbuilding process.

Pursuing U.S. Navy and Commercial Vessel Opportunities

The JV will explore opportunities involving naval auxiliary and commercial vessels, as well as ship block and module fabrication for U.S. shipbuilders. The companies also intend to expand their cooperation into maritime infrastructures.

“Our proposed joint venture HD Kiewit Shipbuilding marks an important milestone in HD Hyundai’s journey to become a strategic partner to the U.S. shipbuilding industry,” said Hannae Choi, Executive Vice President and Head of Corporate Planning Division of HD Korea Shipbuilding & Offshore Engineering (representing HD Hyundai). “Building on HD Hyundai’s shipbuilding technology and shipyard operating capabilities, we will contribute to strengthening the U.S. shipbuilding industry and expanding shipbuilding cooperation between the United States and South Korea.”

“Through our affiliate, Kiewit Offshore Services, and the broader Kiewit organization, we bring the people, facilities and experience needed to execute complex fabrication work,” said Chad Johnson, President of Kiewit Maritime Co. “Together with HD Hyundai’s world-class shipbuilding expertise, we see an opportunity to build a modern shipyard that expands U.S. shipbuilding capacity, develops a skilled workforce and strengthens the domestic supply chain.”

About HD Hyundai
HD Hyundai is a global leader in shipbuilding and marine solutions. Its shipbuilding and offshore businesses span vessel design and construction, marine engines and propulsion systems, offshore engineering and vessel lifecycle services, with a focus on smart, efficient and eco-friendly technologies.

About Kiewit Maritime Co.
Kiewit Maritime Co. is an affiliate of Kiewit Offshore Services, Ltd., within the Kiewit family of companies. It draws on Kiewit’s experience in large-scale fabrication, engineering, construction and complex project execution to support U.S. shipbuilding and manufacturing initiatives.

Media Contact:
Teresa Shada
teresa.shada@kiewit.com