National Security Multi-Mission Vessels (NSMV) under construction at Hanwha Philly Shipyard. Photo courtesy Hanwha Philly Shipyard
Best known for building tankers and containerships, Hanwha’s Philly yard is suddenly being thrust into America’s nuclear-sub revival.
By Heejin Kim
SEOUL, Dec 25 (Reuters) – Hanwha’s Philly Shipyard has the capability of building a nuclear-powered submarine for the U.S.Navy, said Alex Wong, global chief strategy officer at Hanwha Group, according to a statement from the South Korean company on Thursday.
“The U.S. government’s commitment to nuclear-powered submarine capability, its own and of the allies is very strong,” Wong said during the Hanwha’s media day at the shipyard in Philadelphia on Monday. “We stand ready to fulfil the ability to build those submarines here in Philly when the governments are ready.”
South Korea’s shipbuilders are betting big on President Donald Trump’s ambition to revive the struggling U.S. shipbuilding industry. Seoul pledged to invest $150 billion in the U.S. shipbuilding sector in a trade deal signed last month to lower the U.S. tariffs on imports of Korean automobiles to 15% from 25%.
Trump told a press conference on Monday that Hanwha would participate in building frigates for the U.S. Navy. He called Hanwha “a good company”, referring to its planned $5 billion expansion in the Philly Shipyard, which it bought in 2024 for $100 million.
The company is hiring talent with expertise in a Virginia-class submarine, executives said, as they see strong interest from Washington in expanding the U.S. submarine industrial base for such designs.
Hanwha is also in talks with potential partners to buy land or an additional dock for the expansion, said Jongwoo Cho, head of shipyard operations at the Hanwha Philly Shipyard, without elaborating.
(Reporting by Heejin Kim; Editing by William Mallard)
(c) Copyright Thomson Reuters 2025.This article contains reporting from Reuters, published under license.
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
A major new partnership between South Korea’s Hanwha Ocean and Ontario Shipyards aims to bring large-scale shipbuilding back to Canada’s Great Lakes — while building the skilled workforce needed to support future submarine construction....
Hanwha Defense USA and maritime autonomy startup HavocAI have formalized a strategic partnership to jointly develop and potentially mass-produce 200-foot autonomous surface vessels for the U.S. Navy, a move that...
Australia’s Foreign Investment Review Board has approved South Korean shipbuilder Hanwha Corporation to increase its direct equity shareholding in Austal Limited from 9.9 percent to 19.9 percent, marking a significant...
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
