Tag: philly shipyard

philly shipyard

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Hanwha Philly Shipyard wins $2 billion U.S. missile defense vessel contract

Hanwha Philly Shipyard and TOTE Services will build two missile-range instrumentation vessels for the U.S. Missile Defense Agency in a project reportedly worth about $2 billion.

2026.7.18

President Lee Jae Myung, right, and U.S. President Donald Trump walk to the Korea-U.S. summit venue at the Gyeongju National Museum in North Gyeongsang on Oct. 29. [PRESIDENTIAL OFFICE]

Seoul and Washington deliver conflicting messages about nuclear-powered submarines

A bold bid by Korea to build its own nuclear-powered submarines, or SSNs, has hit turbulence, as conflicting messages from Washington and Seoul expose deep cracks over who will actually construct the vessels — and where.

2025.11.3

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A national security-purpose vessel is under construction at Dock 4 of Hanwha Philly Shipyard in Philadelphia, Pennsylvania on July 16. [YONHAP]

Building nuclear subs no easy task, but could pay off big for Korea

U.S. President Donald Trump has given the green light for Korea to build nuclear-powered submarines, a move that could mark a historic leap in the country's naval ambitions — with Hanwha Philly Shipyard in Pennsylvania a potential construction site.

2025.10.31

Korean President Lee Jae Myung, right, talks with U.S. President Donald Trump ahead of their summit at the Gyeongju National Museum in North Gyeongsang on Oct. 29. [PRESIDENTIAL OFFICE]

Trump claims deal struck with Korea will bring over $600B in investment to U.S.

U.S. President Donald Trump claimed Wednesday that Korea has agreed to pay $350 billion to the United States in exchange for tariff reductions, and that investments by Korean companies in the United States will eventually exceed $600 billion.

2025.10.30

Hanwha Group Vice Chairman Kim Dong-kwan delivers a welcome address at a ship-naming ceremony held at the Hanwha Philly Shipyard in Philadelphia on Tuesday, attended by President Lee Jae Myung, Pennsylvania Gov. Josh Shapiro and other officials. [HANWHA]

Hanwha to boost capacity at Philly Shipyard with $5 billion expansion

Hanwha Group, parent of Korea’s major shipbuilder Hanwha Ocean, pledged $5 billion Tuesday to expand capacity at Philly Shipyard in the United States. The investment is part of Seoul’s broader $150 billion shipbuilding initiative.

2025.8.27

President Lee Jae Myung, center, tours Hanwha Philly Shipyard in Philadelphia, Pennsylvania, on Aug. 26, accompanied by Hanwha Group Vice Chairman Kim Dong-kwan, second from right. [JOINT PRESS CORPS]

President Lee visits Philly Shipyard, says Korean and U.S. shipbuilding industries will grow together

President Lee Jae Myung toured Hanwha Philly Shipyard in Pennsylvania on Tuesday in a visit symbolic of the burgeoning shipbuilding industry cooperation between Korea and the United States highlighted in his summit with U.S. President Donald Trump.

2025.8.27

A ship ordered by the U.S. government is being built at the dock of Hanwha Philly Shipyard in Philadelphia on July 16. [KANG TAE-HWA]

Philly Shipyard gets 1st LNG order from Hanwha Shipping

Philly Shipyard, a U.S. shipbuilder owned by Hanwha Ocean, has received its first-ever order for a liquefied natural gas (LNG) carrier from Hanwha Shipping, a shipping affiliate of Hanwha Group.

2025.7.22

A photo of Philly Shipyard in Pennsylvania, in which Hanwha Group acquired a 100 percent stake in 2024. [HANWHA OCEAN]

Hanwha to invest $72M in Philly Shipyard to build LNG carriers

Hanwha Group will invest 100 billion won in Philly Shipyard to add the capability of building liquefied natural gas carriers in an effort to generate $4 billion in revenue annually by 2035.

2025.5.20

Joo Won-ho, head of HD Hyundai Heavy Industries' Naval & Special Ship Business Unit, right, and Steinar Nerbovik, president and CEO of Philly Shipyard, pose for a picture after signing a memorandum of understanding on the construction and maintenance, repair and overhaul (MRO) of warships and government-owned vessels commissioned by the U.S. government. [HD HYUNDAI]

HD Hyundai, Philly Shipyard seal deal on U.S. warship construction

HD Hyundai Heavy Industries has signed a memorandum of understanding with Philly Shipyard on the construction and maintenance of U.S. warships and government-commissioned vessels.

2024.4.24