Hanwha’s Philly Shipyard Prepares for U.S. Nuclear Submarine Projects

Hanwha’s Philly Shipyard is poised to enter the U.S. nuclear submarine construction market, signaling a significant shift for the facility traditionally known for building tankers and containerships. According to Alex Wong, global chief strategy officer at Hanwha Group, the shipyard has the capability to construct nuclear-powered submarines for the U.S. Navy.

Wong made this announcement during a media event at the shipyard in Philadelphia on December 25, 2023. He emphasized the strong commitment from the U.S. government to enhance its nuclear-powered submarine capabilities, stating, “We stand ready to fulfil the ability to build those submarines here in Philly when the governments are ready.”

Investment and Expansion Plans

This development comes amidst a broader effort by South Korean shipbuilders to capitalize on the U.S. government’s push to revive its shipbuilding industry. President Donald Trump has indicated his support for strengthening domestic production, particularly in the defense sector. Recently, South Korea pledged to invest $150 billion in the U.S. shipbuilding industry as part of a trade deal aimed at reducing tariffs on Korean automobile imports from 25% to 15%.

During a recent press conference, Trump highlighted Hanwha’s plans for a $5 billion expansion of the Philly Shipyard, a facility the company acquired in 2024 for $100 million. He referred to Hanwha as “a good company” and expressed confidence in their potential contributions to U.S. naval capabilities, specifically mentioning their involvement in building frigates.

Building Expertise and Future Partnerships

Executives at Hanwha have indicated they are actively hiring talent with expertise in the Virginia-class submarine design. This strategic move reflects the increasing interest from Washington in bolstering the U.S. submarine industrial base. Jongwoo Cho, head of shipyard operations, mentioned that the company is also exploring partnerships to acquire additional land or docks to facilitate this expansion, although specific details were not disclosed.

As the situation unfolds, Hanwha’s entry into the nuclear submarine market could have significant implications for both the U.S. defense sector and the South Korean shipbuilding industry. With strong backing from both governments, the Philly Shipyard is preparing to play a crucial role in future naval projects.