US plan to build warships and energy ships in Greece

The trilateral cooperation between the United States, South Korea and Greece in the crucial sector of shipbuilding is on track for implementation, aiming at strengthening the defense industry, upgrading infrastructure and creating new investment opportunities in the country.

According to information from “N”, Development Minister Takis Theodorikakos, Maritime Affairs Minister Vassilis Kikilias and ONEX President and CEO Panos Xenokostas will travel to Washington this week, following the invitation of the US Ambassador to Greece Kimberly Guilfoyle in a trip with a strong economic and strategic nature.

Agreement with the South Korean shipbuilding group Hanwha Ocean

The purpose of the visit is their presence at the signing ceremony of an agreement between the United States and the South Korean shipbuilding group Hanwha Ocean (formerly Daewoo).

The ONEX Shipyards group, headed by President and CEO Panos Xenokostas, will also participate in the project. The plan concerns the construction of American warships both in the United States and in Greece (corvettes, frigates) as well as commercial ships transporting energy products in the United States and, in a second year, possibly also in Greece, but of smaller tonnage.

The ceremony is expected to take place in the US capital, marking a collaboration that goes beyond the purely business level and is part of the broader defense and industrial partnership between Greece and the United States.

Greek-Korean cooperation prospects

Deputy Minister of Maritime Affairs Stefanos Gkikas, speaking recently at a conference on the “Economy of the Sea”, referred to the prospects of Greek-Korean cooperation, participating in a panel with the Ambassador of South Korea to Greece Juseong Lim and Panos Xenokostas.

Gkikas underlined that 2025 marks the 65th anniversary of diplomatic relations between Greece and Korea, noting that current orders from Greek shipowners to Korean shipyards exceed 170 ships, while over the last 20 years, more than 1,600 Greek-owned ships have been built in Korea, with a total value of over 20 billion euros. As he emphasized, the consolidation and dynamic development of Greek shipyards now create the conditions for joint shipbuilding in Greece, with Korean investments.

The South Korean ambassador and the ONEX management agreed that the ground is ripe for partnerships in the shipbuilding and repair sector, at a time of increased geopolitical challenges that makes international synergies more necessary than ever.

In addition, the Minister of Maritime Affairs Vassilis Kikilias will participate in the “20th Annual Capital Link International Maritime Forum” to be held on Monday, March 9, 2026 at the Metropolitan Club in New York.

The event is organized in collaboration with NASDAQ and NYSE. Joshua Volz, Special Envoy for Global Energy Integration – U.S. Department of Energy, and Vassilis Kikilias, Minister of Maritime Affairs and Insular Policy – Hellenic Republic, will deliver the keynote speeches during the luncheon.