This was a week of quiet structural moves, the kind that don’t grab headlines but reset the field. Korea’s $350B US investment framework started taking visible shape across three sectors (shipbuilding, nuclear, LNG), and SK Hynix passed Samsung in market value for the first time.
Top Stories You Shouldn’t Miss
1. Korea–US Shipbuilding Partnership Goes Operational
MOTIE and the US Department of Commerce signed an MOU launching the ROK–US Shipbuilding Partnership Initiative, with a dedicated Cooperation Center to be stood up in Washington this year. The MOU sits inside Korea’s $150B shipbuilding pledge, a slice of the broader $350B US investment framework (annual cap $20B).
Impact: This is the first sector to get formal bilateral infrastructure under the trade deal. Expect Korean yards (HD Hyundai Heavy, Hanwha Ocean, Samsung Heavy) to move quickly on US partnerships and workforce JVs.
2. SMRs Emerge as a Top Candidate for First $200B US Project
NuScale Power’s small modular reactor design is now the front-runner for Korea’s first project under the $200B portion of the $350B commitment earmarked for nuclear, AI, and semiconductors.
The Korean government quietly prefers nuclear over Washington’s pitch for a Louisiana LNG export terminal, citing commercial rationality.
Korea’s Special Act on Investment in the United States takes effect on June 18, and the first project announcement is expected shortly.
3. SK Hynix Passes Samsung in Market Value
SK Hynix’s forward P/E moved above Samsung Electronics for the first time ever this week.
Microsoft, Google, and Amazon are pitching SK Hynix on funded capacity expansion to lock in HBM allocations through 2028. Meanwhile, Samsung passed the final HBM4 qualification with Nvidia and AMD
Hyundai-POSCO Louisiana Steel selected Italy’s Danieli as integrated-plant technology partner: two electric arc furnaces, two slab casters, and Energiron (Tenova/Danieli JV) for direct reduction, only the second DR plant of its kind in the US.
Pre-construction is underway in Ascension Parish; full construction begins Q3 2026.
Friends and colleagues
A quick note to share that my new book, Hyundai Way: Transformation, is live on Amazon Kindle. Print versions are now available
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An Amazon review goes a long way, too.
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