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The Essential National Security Economics of the U.S. Navy - Part 1
South Korea’s Shipbuilding Might
If you want to understand modern naval power, you cannot skip over South Korea. What that country has built on its southeastern coast is staggering. The city of Ulsan is home to Hyundai Heavy Industries, the largest shipyard on Earth, and right next to it sits Hyundai Mipo Dockyard. Together, they form an industrial footprint so large that you could lose an entire American city inside it.
Let’s put some American measurements on the table. Ulsan’s main yard sprawls across nearly 1,600 acres of waterfront. That is about 2.5 square miles of dry docks, assembly…
The skinny
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