Hanwha Group has announced a USD 5 billion (EUR 4.31 billion) infrastructure plan for its Hanwha Philly Shipyard in Philadelphia, Pennsylvania, as part of South Korea’s commitment to support the growth of the US shipbuilding industry through a USD 150 billion investment fund.
The announcement, made on 26 August 2025, coincided with the christening at the yard of the US Maritime Administration’s third National Security Multi-mission Vessel (NSMV), State of Maine. The naming ceremony, which was attended by South Korean President Lee Jae Myung, South Korean First Lady Kim Hye-kyung, Pennsylvania Governor Josh Shapiro and other senior US and Hanwha officials, followed summit talks between President Lee and US President Donald Trump. As part of its dialogue with the United States, the Lee administration had earlier pledged USD 150 billion in US shipbuilding investments as part of a South Korean-US trade deal, with Hanwha Philly Shipyard expected to play a key role in future collaboration between the two countries.
Hanwha acquired Philly Shipyard in 2024 through a USD 100 million investment, building a landmark hub for shipbuilding in the United States. It is investing to modernise the infrastructure there and create a digitally enabled, high-efficiency shipyard with world-class automation and smart yard technology.
The USD 5 billion programme will be dedicated to the installation of two additional docks and three quays to increase capacity. Hanwha is also reviewing the build-out of a new block assembly facility. Through this expansion Hanwha aims to increase the former Philly Shipyard’s annual production volume from less than two vessels to up to 20. Hanwha aims to initially produce liquefied natural gas (LNG) carriers as well as naval modules and blocks at the yard, before over the longer term producing whole naval vessels there.
