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3w ago

US Navy Secretary Tours Hanwha’s Modernized Philly Shipyard as Tariff Accord Pledges $150 Billion for US Shipbuilding

The visit underscores government support for Hanwha’s automation-driven overhaul under the MASGA initiative.

This photo, taken July 30, 2025, and provided by Hanwha Ocean Co., shows White House budget official Russell Vought (2nd from L), U.S. Secretary of the Navy John Phelan (3rd from L), and Hanwha Group Vice Chairman Kim Dong-kwan (C) posing for a photo during their visit to Hanwha Philly Shipyard in Philadelphia. (PHOTO NOT FOR SALE) (Yonhap)

Overview

  • On July 30, Navy Secretary John Phelan and OMB Director Russell Vought toured Hanwha Philly Shipyard just hours before the US and South Korea finalized a reciprocal 15% tariff deal.
  • The Make American Shipbuilding Great Again initiative is part of a $350 billion Korean investment package that includes $150 billion dedicated to revitalizing US shipbuilding capacity.
  • Since its $100 million acquisition in December, Hanwha has added 600 workers, imported Korean automation technologies and best practices, and accelerated capital expenditure on yard modernization.
  • Hanwha has begun talks with the US Navy on shipbuilding projects aimed at alleviating chronic vessel capacity shortfalls.
  • The company revived its apprenticeship program with 80 hires in 2024, plans to reach 240 apprentices by 2027 and targets building over ten ships annually by 2035.