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Hanwha Group has announced that its Philadelphia-based shipyard has the technical capability to build nuclear-powered submarines for the U.S. Navy, highlighting the South Korean conglomerate’s growing ambitions in the American defense and shipbuilding sector. The statement was made by Alex Wong, global chief strategy officer at Hanwha Group, during the company’s media day held at the Hanwha Philly Shipyard earlier this week.
According to Wong, the U.S. government’s commitment to maintaining and expanding its nuclear-powered submarine fleet, along with supporting allied capabilities, remains strong. He emphasized that Hanwha stands ready to construct such submarines in Philadelphia once the U.S. government and its partners decide to move forward. This positioning underscores Hanwha’s intent to play a significant role in strengthening the U.S. submarine industrial base, particularly as Washington looks to expand production capacity for advanced platforms like the Virginia-class submarine.
Hanwha’s push comes amid renewed momentum in U.S. shipbuilding, fueled in part by President Donald Trump’s stated goal of revitalizing the domestic maritime industry. South Korea’s shipbuilders are aligning closely with this vision. In a recent trade agreement, Seoul committed to investing $150 billion into the U.S. shipbuilding sector, a move that helped reduce U.S. tariffs on Korean automobile imports from 25% to 15%.
Trump confirmed on Monday that Hanwha would participate in building frigates for the U.S. Navy, praising the company and pointing to its planned $5 billion expansion of the Philly Shipyard. Hanwha acquired the shipyard in 2024 for $100 million and has since outlined aggressive growth plans.
Company executives revealed that Hanwha is actively recruiting professionals with experience in Virginia-class submarine programs, signaling serious preparation for potential nuclear submarine construction. Additionally, Hanwha is exploring partnerships to acquire more land or an extra dock to support expansion, according to Jongwoo Cho, head of shipyard operations in Philadelphia.
These developments position Hanwha as a key foreign investor and strategic partner in the future of U.S. naval shipbuilding, with nuclear-powered submarines at the center of its long-term vision.
