Hanwha Group has unveiled a $5 billion infrastructure plan for Hanwha Philly Shipyard, part of South Korea’s $150 billion commitment to bolster U.S. shipbuilding. The announcement coincided with the christening of the U.S. Maritime Administration’s third National Security Multi-Mission Vessel (NSMV).
The ceremony was attended by South Korean President Lee Jae Myung, U.S. officials including Pennsylvania Governor Josh Shapiro and Senator Todd Young, and followed summit talks between President Lee and U.S. President Donald Trump.
“Today’s christening ceremony is the embodiment of our two nations working side by side to reindustrialize for the sake of shared security and prosperity,” said Hanwha Vice Chairman Dong Kwan Kim. “This is just the beginning. Hanwha is committed to being a partner in building the next chapter of American shipbuilding.”
Hanwha, which acquired Philly Shipyard last year, plans to modernize facilities with automation and smart yard technology. The $5 billion investment includes two new docks, three quays, and a potential block assembly facility, aiming to boost annual output from fewer than two vessels to up to 20, including LNG carriers, naval modules, and eventually naval vessels.
