[Heavy Industry ON] Expectations Rise for Korea-U.S. Shipbuilding and Defense Cooperation... U.S. Navy Secretary Tours Philadelphia Shipyard

U.S. Shipbuilding Industry Revitalized by Expanded Employment and Accelerated Facility Investment

The Hanwha Philippines Shipyard, acquired by Hanwha Group in the United States, is laying the groundwork for a new leap forward by expressing its commitment to investing in facilities and developing skilled personnel. Local responses have also been positive.

Hanwha Philippines Shipyard panorama. The Asia Business Daily DB

According to industry sources on September 12, Hanwha expanded the local workforce of Hanwha Philippines Shipyard to around 2,500 employees after its acquisition in 2024, more than doubling employment.

In the past, the Philadelphia Naval Shipyard had built world-class vessels for American sailors but had since fallen into decline. However, after its acquisition by Hanwha Group, the shipyard has undergone ongoing restructuring. Beyond simply creating jobs, Hanwha is breathing new life into the U.S. shipbuilding industry, which has long faced labor shortages, by fostering skilled technical personnel.

Hanwha is also proceeding with investments to expand shipbuilding capacity. According to Hanwha Systems’ semi-annual report, 540.9 billion won is required this year for facility investments at the shipyard. The facility utilization rate at the shipyard in the first half of the year was 93.72%, higher than the 79.46% recorded in 2024. The shipyard has completed production of four National Security Multi-Mission Vessels (NSMV) for the U.S. Maritime Administration and is preparing to deliver the final NSMV next year. The lead ship of this class, the "TS Empire State," was deployed this month on a federal mission to support the U.S. Navy in the Indo-Pacific region.

David Kim, CEO of Hanwha Philippines Shipyard, explained, "As a leading global shipbuilder, Hanwha is introducing advanced technology and training to the United States, thereby expanding shipbuilding capabilities and contributing to meeting U.S. demand."

Recently, Acting U.S. Navy Secretary Hung Cao visited the shipyard, raising expectations for cooperation in the U.S. shipbuilding and defense sectors.

On September 9 (local time), Acting Secretary Hung Cao visited the shipyard to tour its facilities, discuss ways to strengthen U.S. shipbuilding capacity, and conduct in-depth reviews of strategies to develop skilled labor in the Philadelphia region.

Acting Secretary Hung Cao stated, "U.S. maritime security depends on our ability to build ships at the speed and scale our nation demands," emphasizing that this occasion highlighted opportunities to expand American shipbuilding capabilities, strengthen the workforce, and ultimately deploy more vessels at sea.

If a US$150 billion investment in the United States is realized, the growth of the shipyard is expected to accelerate even more rapidly. In June, the government established a Korea-U.S. Shipbuilding Cooperation and Investment Committee to push forward with these projects.

Michael Coulter, CEO of Hanwha Defense USA, said, "Hanwha is seeking to build naval vessels for the U.S. Navy," adding, "We are committed to enabling the U.S. Navy to build more ships at the Philadelphia Shipyard."

This content was produced with the assistance of AI translation services.