Key Points

HD Hyundai CEO Chung Ki-sun and Greer held the meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) trade ministers' meeting, held on Jeju Island from Thursday to Friday, the company said in a press release.

The meeting marked the first official dialogue between the USTR and South Korea's shipbuilding industry, reports Yonhap news agency.

During the talks, Chung emphasised the need to strengthen bilateral cooperation in shipbuilding through joint technology development, process collaboration and workforce training programmes, the company said.

"We deeply appreciate the United States' commitment to rebuilding its shipbuilding industry. HD Hyundai is fully prepared and willing to contribute wherever our expertise is needed," Chung said.

Addressing concerns over the dominance of Chinese cranes in U.S. ports, Chung introduced HD Hyundai Samho Heavy Industries Co., an affiliate with crane manufacturing capabilities.

He also underlined the importance of diversifying the U.S. port equipment supply chain through closer U.S.–Korea cooperation.

Meanwhile, the chief executive officer (CEO) of GM Korea, the South Korean unit of General Motors, visited the automaker's Changwon plant to encourage employees amid growing concerns over a potential withdrawal driven by shifting US tariff policies.

GM Korea CEO Hector Villarreal visited the plant, located 298 kilometers southeast of Seoul, to meet with employees and reinforce on-site management, the company said in a press release.

Speculations over GM's possible exit from South Korea have been mounting following the imposition of a 25 percent tariff on imported vehicles in the United States since April, along with the automaker's lack of new models and sluggish sales. GM Korea ships about 85 percent of its exports to America.

—IANS

- IANS