Trump: "Certain rewards for companies investing in the U.S."… Lee: "Will lead multilateral cooperation"

South Korea–U.S. presidents, special speeches at CEO Summit

Trump mentioned shipbuilding six times in his speech

"The U.S. used to build one ship a day

Will revive shipbuilding together with Korea"

President Lee: "In the era of putting one's country first,

APEC is a platform for mutual prosperity and inclusion"

U.S. President Donald Trump said on the 29th, "We will revive the U.S. shipbuilding industry that once prospered by joining forces with Korea, which has excellent shipbuilding technology." President Trump, who has made rebuilding the U.S. shipbuilding industry a core policy task, once again expressed expectations for cooperation with Korean shipbuilders at his first official public appearance after visiting Korea. He also praised the businesspeople, saying, "There are many great businesspeople in Korea," and "they have a special relationship with the United States and are very important partners." SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo and others attended the event.

◇ "Korea will play a major role in the revival of U.S. shipbuilding"

President Trump emphasized cooperation with Korea, saying at the special speech at the '2025 Asia-Pacific Economic Cooperation (APEC) CEO Summit' held at Gyeongju Arts Center that "Korea will play a major role in the revival of U.S. shipbuilding." He devoted much time in his speech to economic and technological cooperation with Korea. Shipbuilding, a major cooperation project between South Korea and the United States, was mentioned six times. President Trump said, "The United States used to be a country that built one ship a day, but the entire shipbuilding industry is now lagging." The United States, which was the No. 1 shipbuilding country until the 1950s, produced more than 1,000 ships a year through about 50 major shipyards nationwide during World War II. However, with the rise of emerging shipbuilding powers such as Japan and Korea, about 300 shipyards disappeared between 1983 and 2013, leaving only three shipyards in the United States that could build large commercial vessels.

President Trump predicted that the Philly shipyard would become a symbol of the revival of U.S. shipbuilding. He said, "The U.S. Philly shipyard acquired by Hanwha Group last December will become one of the world's most successful shipyards," adding, "The U.S. shipbuilding industry, which declined due to the previous administration's policy failures and management failures, will show a different pattern than in the past."

◇ "Will expedite factory permitting procedures in the U.S."

President Trump praised the businesspeople who brought about Korea's economic development as "great businesspeople." He said, "You achieved the miracle of economic development as a rare industrial and technological power," and "the world should draw inspiration from what you have achieved."

He also urged active investment in the United States. Major group heads attended the speech, including Chairman Chey, Chung, and Koo, as well as Shin Dong-bin of Lotte Group, Chang In-hwa of POSCO Holdings, Chung Ki-sun of HD Hyundai, Chung Yong-jin of Shinsegae Group, and Ryu Jin, chairman of the Federation of Korean Industries. President Trump said, "We will drastically shorten the 10–15 years of licensing and permitting procedures required to build factories and power plants in the United States," and "we will give certain rewards to companies that invest and create jobs in the United States." He added, "I hope we can find common values and take a mutually beneficial path to prosper together."

Before President Trump, President Lee Jae-myung gave a special speech, emphasizing, "As the chair of the APEC summit, we will lead the path of multilateral cooperation to confront crises." President Lee said, "In an era in which protectionism and putting one's country first make survival urgent, cooperation, mutual prosperity, and inclusive growth may sound hollow," adding, "It is precisely in such crisis situations that APEC's role as a platform for solidarity for mutual prosperity and inclusive growth will shine."

He also announced that he would propose AI-related initiatives at this APEC meeting. President Lee said, "AI is the core of innovation that will lead sustainable development," and "I hope a vision of AI for all can take root as APEC's new normal."

Gyeongju = Kim Woo-seop, reporter duter@hankyung.com