General Dynamics NASSCO and South Korean Shipbuilding Leaders DSEC Co. and Samsung Heavy Industries Co. Sign Tri-Party Memorandum of Agreement

SAN DIEGO, Dec. 3, 2025 /PRNewswire/ -- General Dynamics NASSCO, a business unit of General Dynamics (NYSE:GD), and its long-term partner, DSEC Co., Ltd., together with Samsung Heavy Industries Co., Ltd. (SHI) of South Korea announced today the signing of a tri-party Memorandum of Agreement – joining forces to collaborate on their industry leading ship design and manufacturing automation and technology in the U.S. market.

The partnership will advance all three companies' endeavors into commercial, naval, and other government shipbuilding projects, including the U.S. Navy's Next Generation Logistics Ship (NGLS), and will leverage decades of common experience and success teaming in U.S.-South Korean shipbuilding.

General Dynamics NASSCO has been the U.S. leading designer and builder of major naval auxiliary and commercial vessels since the 1950s, delivering over 150 vessels to date. NASSCO is currently building the U.S. Navy's 20-ship class of John Lewis (T-AO 205) Fleet Oilers and is designing the U.S. Navy's future Submarine Tender (AS-X) class. Recent commercial programs include ConRo ships, containerships, and medium range (MR) tankers, all designed with DSEC and other South Korean partners, leveraging NASSCO's long history of cooperation with some of the world's leading ship designers and builders.

"This partnership brings together three extraordinary companies with a track record of success and over 160 years of combined shipbuilding and design experience," said Dave Carver, president of General Dynamics NASSCO. "Having worked closely with DSEC over the last two decades and now welcoming Samsung Heavy Industries, there is great opportunity in leveraging our expertise and years of learning to execute on the next generation of shipbuilding."

DSEC Co., Ltd. provides a complete range of shipbuilding and marine engineering services, including ship design, material procurement, quality management, shipyard operations and development consulting, logistics support, and eco retrofit solutions. With over three decades of experience, DSEC has worked extensively on U.S. built ship designs and material packages throughout the U.S., supporting a wide variety of commercial, naval, and government ship programs.

"This MOA strengthens our long-standing collaboration with General Dynamics NASSCO by combining the capabilities of Samsung Heavy Industries and we look forward to contributing greater value to the U.S. shipbuilding and maritime industry," said Mr. Seogyong Youn, president of DSEC.

Samsung Heavy Industries Co., Ltd. (SHI) is recognized as one of the world's leading shipbuilders, specializing in the engineering, procurement, construction, commissioning, and delivery of advanced commercial vessels. Its portfolio includes liquefied natural gas carriers (LNGC), container ships, drill ships, and floating production units for the oil and gas industry. SHI currently holds the top global market share in drill ships, LNG carriers, and floating LNG production units (FLNG). The company is actively engaged in the construction of three FLNG units and 120 commercial ships.

"Through this tri-party collaboration, SHI is committed to leveraging its technological expertise, skilled workforce and production infrastructure to enhance the capabilities of the U.S. shipbuilding industries," said Mr. Joonyun Kang, director of SHI.

SOURCE General Dynamics NASSCO