Hanwha's Bold Move: Nuclear Submarines on the Horizon at Philly Shipyard

Hanwha's Philly Shipyard is prepared to construct nuclear-powered submarines for the U.S. Navy. With U.S. and South Korean commitments, Hanwha plans a $5 billion expansion in Philadelphia to bolster this capability. The company is also exploring potential land acquisitions for development within its operation scope.

Hanwha's Philly Shipyard has positioned itself to build nuclear-powered submarines for the U.S. Navy, according to statements made by Alex Wong, Hanwha Group's global chief strategy officer. His remarks were released by the South Korean entity on Thursday.

During a media event in Philadelphia, Wong highlighted the steadfast commitment of the U.S. government to nuclear submarine capabilities. Hanwha is prepared to fulfill this need as soon as governmental readiness allows. This initiative aligns with South Korea's strategic investment in rejuvenating the U.S. shipbuilding sector, as manifested in a recent $150 billion bilateral trade agreement.

President Trump lauded Hanwha at a press conference, acknowledging its planned $5 billion investment at the Philly Shipyard and potential role in constructing Navy frigates. Hanwha is actively recruiting Virginia-class submarine experts and is negotiating land acquisition for further expansion, according to shipyard operations head Jongwoo Cho.

(With inputs from agencies.)