Fraser Industries LLC in Superior is pleased to announce that it has signed a memorandum of understanding (MOU) on cooperation for shipyard modernization to revitalize the U.S. shipbuilding industry with HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company of HD Hyundai’s shipbuilding division.
Fraser Industries is proud to collaborate with HD Hyundai in making a full-scale entry into the modernization of shipyards in the United States. HD Hyundai will advance Fraser Shipyards as a hub for rebuilding the U.S. shipbuilding industry and will provide a comprehensive advanced shipyard modernization solution that includes shipyard design and construction expertise, production and operating systems as well as data management capabilities.
The signing ceremony, held in Washington, D.C., was attended by key executives from both companies — including Fraser Industries CEO Patrick V. Kelly and HD Korea Shipbuilding & Offshore Engineering CEO Kim Hyung-kwan as well as Shin Jong-Gye, Technology Advisor (Professor Emeritus at Seoul National University), who served as a bridge during the early stages of the collaboration.
Under the agreement, the two companies plan to cooperate across the entire cycle from shipyard construction to operation — including ▲shipyard diagnosis and solution derivation ▲yard and plant layout design ▲introduction of robotics and automation equipment ▲optimization of cost, process, quality, and productivity ▲application of AI- and data-based digital solutions ▲supply- chain expansion and technical-workforce development.
Fraser Industries and HD KSOE plan to sign a supply contract for a “shipyard modernization consulting program” later this year, and to make Fraser Shipyards— located in Superior, Wisconsin, on the shore of Lake Superior — a “demonstration model” for rebuilding the U.S. shipbuilding industry. The Great Lakes region has traditionally served as a hub for shipbuilding and maintenance and repair activities in the U.S. and possesses a key supply chain.
Fraser Industries CEO Patrick Kelly said, “We are very pleased to join hands with HD Hyundai, which possesses world-class technological capabilities, to introduce advanced techniques across shipyard operations,” adding, “The cooperation between the two companies will be an important
starting point for the revitalization of the U.S. shipbuilding industry.”
HD KSOE CEO Kim Hyung-kwan stated, “We plan to provide the know-how needed from shipyard design through to operation so as to support Fraser Shipyards in becoming a hub for the rebuilding of the U.S. shipbuilding industry,” adding, “Going forward, we will expand the scope of cooperation into various areas and become a reliable partner for the U.S. shipbuilding industry.”
The Great Lakes region is emerging as a core area for the rebuilding of the U.S. shipbuilding industry. This past April, Fraser Shipyards, together with the Fincantieri Marine Group and Donjon Marine, established a collaborative framework to compete for a contract to build a new Homeland Security Cutter – Light Icebreaker for the U.S. Coast Guard. Fraser Industries CEO Parick Kelly said: “With HD Hyundai as our partner, one of the world’s Leading shipbuilders, we are excited to advance shipyard modernization for the revitalization of the US shipbuilding industry.”
About Fraser Industries
Fraser Industries is a diversified maritime company located on a 100-acre facility in Superior, Wisconsin. Its businesses include Fraser Shipyards, Lake Assault Boats, Northern Engineering and Fraser Terminal. Founded in 1888, Fraser Shipyards provides maintenance and repair for the Great Lakes fleet and new construction for commercial and military customers. Lake Assault Boats designs and builds customer aluminum vessels for commercial and defense markets.
About HD Hyundai
HD Hyundai (formerly Hyundai Heavy Industries Group) is a leading South Korean conglomerate and the world’s largest shipbuilding and heavy industries group. Following its transition to a holding company structure in 2018, HD Hyundai operates through HD Korea Shipbuilding & Offshore Engineering, HD Hyundai XiteSolution, and HD Hyundai Oilbank, which oversee the Group’s shipbuilding, construction equipment, and energy businesses, respectively.
