DAPA chief says China's Hanwha sanctions to 'clearly' affect MASGA project

China's recent sanctions against five U.S.-linked subsidiaries of Korean shipbuilder Hanwha Ocean will "clearly" have an impact on a landmark Korea-U.S. shipbuilding cooperative project, the chief of Seoul's arms procurement agency said Friday. On Tuesday, Beijing announced it would impose retaliatory measures against the five U.S.-based subsidiaries, accusing them of cooperating with a U.S. investigation targeting China's maritime and shipbuilding industries. "Ultimately, it could have an impact on the Make American Shipbuilding Great Again (MASGA) initiative," Seok Jong-gun, minister of the Defense Acquisition Program Administration (DAPA), said during a parliamentary audit session. "While no immediate impact is expected as there are no MASGA-related contracts that have been inked, it is assessed there will clearly be an influence given issues regarding material," Seok said, in response to an analysis suggesting the scope of damage could reach up to $60 million over the next two years. The DAPA chief did not specify the amount of potential damage, saying it has not been analyzed. HanwhaWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times