As the U.S. government’s commitment to nuclear-powered submarine capability.
Hanwha’s Philly Shipyard has the capability of building a nuclear-powered submarine for the US Navy, said Alex Wong, global chief strategy officer at Hanwha Group.
South Korea’s shipbuilders are having high expectations from President Donald Trump’s ambition to revive the struggling U.S. shipbuilding industry.
Seoul pledged to invest $150 billion in the U.S. shipbuilding sector in a trade deal signed last month to lower the U.S. tariffs on imports of Korean automobiles to 15% from 25%.
Trump told a press conference on Monday that Hanwha would participate in building frigates for the U.S. Navy. He called Hanwha “a good company,” referring to its planned $5 billion expansion in the Philly Shipyard, which it bought in 2024 for $100 million.