Hanwha Philly Makes Way for Philly to Lead U.S. Shipbuilding Industry
After officially opening in December 2024, the Hanwha Philly Naval Shipyard hosted the christening of Philadelphia-built National Security Multi-Mission Vessel, TS State of Maine. At this event on August 26, Governor Josh Shapiro welcomed South Korean President Lee Jae-Myung alongside leaders from the Hanwha Philly’s subsidiary, Hanwha Ocean, as well as fellow Pennsylvania leaders.
The creation and send-off of this ship signifies a great shift in U.S. shipbuilding by taking on a bilateral approach. Hanwha Philly aims to revitalize domestic shipbuilding, an industry that has remained dormant in Philadelphia for several decades, by establishing the city as a growing powerhouse partnering with foreign partners.
Reporting to NBC News, CEO David Kim emphasized that the international partnership shows a commitment to advancing the local development of U.S. led shipbuilding. In regard to the construction of naval ships, the company plans to be the first U.S. builder of specialized liquefied natural gas tanks, increasing its competitiveness on a global stage.
This partnership focuses on increasing the turnover of Philadelphia’s shipbuilding industry, expanding ship and marine manufacturing, and creating new job opportunities for Philadelphians. Already, an estimated 5,000 jobs were created through the Shapiro Administration and Hanwha’s expansion plans and with the support of generous donors and investors.
Notably, JPMorgan has recently positioned itself as a vital partner of Hanwha Philly’s work. On July 15, the company announced a $24 million investment in Philadelphia’s shipbuilding and maritime sector which will support skills training, “stronger supply chains and small business growth in a sector critical to America’s defense industrial base.”
Mayor Cherelle L. Parker emphasized that “[w]hen organizations like JPMorganChase invest in Philadelphia, they’re investing in our people.” This is made evident through Hanwha’s aforementioned 36-month apprentice program, which offers training for Philadelphians looking to join the industry.
Increasing production rates and modernizing infrastructure are key priorities within Hanwha’s Philly’s work. JPMorgan and Hanwha’s impactful initiatives will secure new opportunities for Americans and future generations while bolstering the shipbuilding industry as a major contributor to the U.S.’s economy and national security.
Cover photo credit: https://dced.pa.gov/newsroom/icymi-governor-shapiro-and-secretary-siger…