Tamil Nadu Industries Minister Virudhai Magal Keerthana held discussions with Hyundai Heavy Industries during her visit to South Korea, focusing on the development of the Thoothukudi Greenfield Shipyard. This project, which saw a Memorandum of Understanding (MoU) signed in April 2026, aims to bolster India's shipbuilding capabilities and support large commercial vessels. Keerthana emphasized the strategic importance of the shipyard, noting its potential to generate approximately 15,000 direct jobs and attract global suppliers, thereby enhancing Tamil Nadu's position in the Blue Economy. The tripartite MoU, signed between HD Korea Shipbuilding & Offshore Engineering Co. Ltd., National Shipbuilding & Heavy Industries Park, Tamil Nadu Limited, and Sagarmala Finance Corporation Limited, marks a significant step in India's maritime cooperation with South Korea. The envisioned shipyard is expected to have an annual capacity of 2.5 million gross tons, contributing to the region's industrial growth and job creation.