After six months on the west coast, she departed for her third Far Eastern cruise. Arriving off Korea on 11 February 1954, she operated there with TF 77 until being detached, on 21 February, to proceed to the Philippine Islands. "Shields" conducted operations out of Subic Bay during the months of March and April, patrolling the coast of Indochina with Carrier TG 70.2. On 7 May, she embarked for Yokosuka, Japan, stopping en route for a diplomatic representation at Hong Kong. After a week of tender upkeep at Yokosuka, "Shields" put to sea with TF 77 to conduct battle exercises. She returned to San Diego on 18 July 1954.