South Korea’s $150 Billion Bet on Trump’s Shipbuilding Dream

Tucked between three emerald mountains and lapped by the calm, cobalt waters off the coast of the South Korean city of Geoje, Hanwha Ocean Co.’s sprawling shipyard is in full swing by sunrise. Workers in navy overalls pedal between steel hulls and towering cranes, weaving through scaffolding as welding sparks rain down like fireflies.

The dry dock at the Hanwha yard — one of the largest in the world outside China — is close to full capacity with half-built ships. Vast steel blocks the size of trucks line up like colossal Lego pieces. Bit by bit, these giant fragments will be transformed into the world’s next generation of oil tankers, ultra-large container ships and carriers of liquified natural gas — keeping the global economy moving.