South Korea’s Hanwha Group, following its $100 million acquisition of what is now Hanwha Philly Shipyard, plans on hiring a significant number of workers that will drive its expansion, writes Joseph N. DiStefano for The Philadelphia Inquirer.
David Kim, the Hanwha Defense USA executive who orchestrated the deal and now serves as CEO of Hanwha Philly Shipyard, said that the company plans to expand by “pushing the boundaries of shipbuilding” to fulfill orders for both commercial and government buyers.
While owned by Aker, the yard focused on building civilian ships. Hanwha’s Systems and Ocean divisions have emphasized their experience with constructing naval ships, drones, and radar and sensor systems on its Geoje Island shipyards.
Kim said that the company wants “to expand into naval vessel production.” He added that Hanwha promised “a smooth transition” and “sustainable and inclusive growth.”
The purchase was approved by the Committee on Foreign Investment in the U.S. back in September.
Hanwha is “very positive about this opportunity to enter the U.S. market” and offer Philadelphia “a historic opportunity” to revitalize its shipbuilding industry with modern technology, said David Oh, former Philadelphia City Councilmember.
Read more about Hanwha Philly Shipyard and its plans for growth in The Philadelphia Inquirer.
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Editor’s Note: This post first appeared on PHILADELPHIA Today in January 2025. 1234
