Hanwha Ocean will invest $70 million (≈ KRW 94.5 billion) in Philadelphia Shipyard to raise annual ship production from 1–1.5 units to over 10 units by 2035. The facility, acquired in 2023 for about $100 million, is expected to grow into a mid-sized global shipbuilder with projected annual revenue of around $4 billion, supported by U.S. Navy repair and maintenance demand. The White House has highlighted the expansion as a notable foreign investment, and South Korean President Lee Jae-myung is scheduled to visit the yard on August 26, underscoring its strategic value.
Tags
Shipbuilding