McCormick backs S. Korea's greater role in US shipbuilding, urges faster investment

What happened: US Sen. Dave McCormick said South Korea can be a "real partner" in providing shipbuilding capacity to the US and urged faster progress on Seoul's planned investment. Key numbers: South Korea pledged $350 billion in US investment, including $150 billion for the US shipbuilding sector. Trump requested 10 military vessels. Why it matters: McCormick said the investment must flow sooner, noting Japan moved faster on some investments, and cited Hanwha's Philly Shipyard investment as a driver of an industry "renaissance.

US Sen. Dave McCormick said South Korea can be a "real partner" in providing shipbuilding capacity to the US and urged faster progress on Seoul's planned investment.

McCormick said the investment must flow sooner, noting Japan moved faster on some investments, and cited Hanwha's Philly Shipyard investment as a driver of an industry "renaissance.