Senator praises Hanwha's $5 billion boost to U.S. shipbuilding and jobs
Senator Dave McCormick said Hanwha Group's investment in a Philadelphia shipyard is rapidly creating jobs and bringing advanced shipbuilding technology to the United States.
At a discussion hosted by the Hudson Institute, Senator Dave McCormick praised South Korean conglomerate Hanwha Group for its role in revitalizing American shipbuilding. He observed that the Philadelphia facility, which employed roughly 1,000 workers before Hanwha's acquisition, now has about 2,200 staff after hiring an additional 1,000. McCormick said Korean specialists are sharing advanced manufacturing and automation techniques with U.S. crews on site.
He tied the $5 billion investment to the Make American Shipbuilding Great Again (MASGA) initiative, which aims to expand capacity and secure the defense supply chain. The senator emphasized that rebuilding domestic shipbuilding is vital for competing with China, noting the United States currently produces less than 1 percent of global ship output. He suggested that allies such as South Korea and Japan could play key roles in this effort.
Why it matters
The investment could significantly increase U.S. shipbuilding capacity, jobs, and defense readiness.
In this story
