Foreign Minister Giorgos Gerapetritis delivered a speech during the signing ceremony of the agreement between ONEX Shipyards & Technologies and Hanwha Power Systems in Washington on Wednesday, February 25. As he emphasized, while defense continues to be a fundamental pillar of the alliance, the cooperation outlook is now shifting to the strategic field where economic diplomacy, energy, artificial intelligence, and the shipbuilding industry converge. In these sectors, Greek, Korean, and American companies can, through synergies, enhance innovation and substantially contribute to sustainable development and international stability.
Special reference was made to the Vertical Energy Corridor, which aims to deepen energy cooperation and gradually reduce Europe’s dependence on Russian energy, strengthening the energy security of the broader region.
Referring to the ONEX-Hanwha partnership, he underlined that the recent US Maritime Action Plan signals a historic shift, adopting a more open policy toward foreign shipyards, aimed at supporting both commercial and military shipbuilding activities. The choice to collaborate with reliable allies like Greece and South Korea represents a substantial step toward revitalizing the American shipbuilding industry, he said.
Among other things, Mr. Gerapetritis emphasized that the prospects for trilateral US-Greece-Korea cooperation are particularly dynamic, noting that the signing marks “the beginning of a major undertaking with clear implementation orientation.”
It is worth noting that the shipbuilding industry constitutes a strategic pillar for the country’s energy upgrade and for establishing Greece as a regional energy hub, particularly through the development and utilization of LNG transport vessels and floating storage and regasification units (FSRU). This specific agreement signals the beginning of a broader chain of developments in the energy and shipbuilding sectors, with ONEX taking on a pivotal role in the country’s overall energy upgrade and strategic enhancement.
The Foreign Minister’s full speech:
“Your Excellency Deputy Foreign Minister Michael Rega, Your Excellency Ambassador Gilfoil, distinguished guests.
We gather today to celebrate a milestone in the new era of relations between the United States, Greece, and Korea. The cooperation between Greece and the United States, long based on our unbreakable defense collaboration, is evolving. Today, we add new dynamic chapters to this legacy.
While defense remains a pillar of our alliance, the future of our cooperation lies at the strategic intersection of economic diplomacy, energy, artificial intelligence, and shipbuilding. These sectors represent the next frontier where Greek, Korean, and American companies, working together, can advance global innovation and contribute to sustainable peace and development.
Indeed, in recent days, our attention has focused on the Vertical Energy Corridor, aimed at strengthening our energy cooperation and disconnecting Europe from Russian energy.
Today, we see the opportunities offered by the cooperation between ONEX and Hanwha. The recently announced US Maritime Action Plan represents a historic shift, signaling a new open policy for foreign shipyards to support both commercial and naval shipbuilding for the United States. The intention is clear. Cooperation with reliable allies like Greece and South Korea to revitalize the US shipbuilding industry is a decisive move in the right direction.
This agreement is a typical win-win situation. It extends beyond shipyards, unleashing potential for large-scale energy projects. Greek shipowners have a legendary intuition for opportunities. They were the first to support Korean shipyards after World War II, helping build an industrial giant. I have no doubt they will be the first to recognize the value of this ONEX-Hanwha partnership and lead once again.
Looking ahead, the potential of the US-Greece-Korea trilateral partnership is enormous. As the agreement itself states: ‘Today is the beginning of something big, and it’s made to be implemented.’
Congratulations to all parties for your vision, hard work, and commitment to a safer and more prosperous future.
I would particularly like to thank Ambassador Kimberly Gilfoil for her tireless efforts to upgrade our relations. Ambassador, you have set a new benchmark for amazing heights.
Thank you very much.”
