Hanwha Group announced a $5 billion infrastructure plan for Hanwha Philly Shipyard as part of South Korea’s commitment to supporting growth of the U.S. shipbuilding industry through a $150 billion investment fund.

The announcement coincided with the christening of the U.S. Maritime Administration’s (MARAD) third National Security Multi-Mission Vessel (NSMV), held at Hanwha Philly Shipyard. The event was attended by South Korean President Lee Jae Myung and First Lady Kim Hye Kyung, alongside Pennsylvania Governor Josh Shapiro, Senator Todd Young, and other distinguished officials.

The ceremony followed summit talks between President Lee and US President Donald Trump, underscoring the importance of bilateral cooperation in strengthening America’s shipbuilding industry and maritime supply chain resilience.

Vice Chairman Dong Kwan Kim of Hanwha Group highlighted the significance of this milestone: “Today’s christening is more than a celebration—it’s a symbol of how our two nations are working side by side to reindustrialize for the sake of shared security and prosperity. We are creating good manufacturing jobs, building the world’s most advanced ships, and fostering a new skilled workforce right here in America. This is just the beginning. Hanwha is proud to partner in writing the

Since acquiring Philly Shipyard in 2024 through a $100 million investment, Hanwha has been modernizing the facility into a digitally enabled, high-efficiency shipyard equipped with world-class automation and smart yard technology.

The new $5 billion program will fund: two additional docks and three new quays to boost production capacity, a potential new block assembly facility and expansion to increase annual ship output from fewer than two vessels to as many as 20.