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Hanwha Philly Shipyard mulls joining U.S. Navy ship project

Published: 20 Jul. 2025, 18:27

JIN MIN-JI
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Hanwha Philly Shipyard's Philadelphia-based shipyard. [YONHAP]

Hanwha Philly Shipyard, owned by Korea's chemicals-to-shipbuilding conglomerate Hanwha Group, is considering bidding for the U.S. Navy's combat support ship construction project, the group said Sunday.

At a recent media briefing in Philadelphia, Pennsylvania, the shipyard's CEO, David Kim, said Hanwha is in “discussions” about participating in the project.

An additional U.S. defense budget of more than $20 billion has been approved for the construction of combat and support ships, he said, adding the Senate and House of Representatives are discussing how to execute the funding.

Some of the planned combat support ships are the type of vessels Hanwha is capable of building, which is why the company needs to win the bid, Kim said.

The company is already preparing documents for submission to the U.S. Navy and getting ready for the bidding process, he added.
Hanwha Group acquired Philly Shipyard Inc. for $100 million last year as part of its global expansion strategy.

Through the acquisition, Hanwha aims not only to enter the market for building 3,600 twenty-foot equivalent unit (TEU) liquefied natural gas-powered [LNG] container carriers and LNG ships but also to win contracts to supply components for U.S. Navy vessels and potentially build Navy ships in the long term.

“The U.S. defense budget focuses on combat ships, nuclear submarines and aircraft carriers. But a fleet cannot go into battle with only attack vessels. It needs support ships as well,” said Lee Jong-moo, head of Hanwha Philly Shipyard.

“U.S. support shipbuilding capability has weakened and fallen behind schedule, so the U.S. is considering placing orders with foreign shipyards if support ships can be built quickly,” he added.

U.S. President Donald Trump has emphasized the need to revive the U.S. shipbuilding industry and the importance of partnering with allies, including South Korea, a global leader in naval vessel construction.

In April, U.S. Secretary of the Navy John Phelan visited Hanwha Ocean's shipyard in Geoje, South Gyeongsang, to discuss cooperation in naval defense. Trump's eldest son, Donald Trump Jr., also visited Seoul that month for meetings with Hanwha officials, including Hanwha Group Vice Chairman Kim Dong-kwan, to explore potential partnerships.

Yonhap