U.S. senator hails Hanwha's role in revitalizing American shipbuilding industry

U.S. Senator Dave McCormick has praised the Hanwha Group's role in revitalizing the American shipbuilding industry, noting that the South Korean conglomerate's investment in a Philadelphia shipyard is already creating jobs and transferring advanced manufacturing technologies to the United States. The senator highlighted the growth of employment at the Philly Shipyard, which has increased from 1,000 to 2,200 workers since Hanwha's acquisition.

McCormick observed during a recent visit to South Korea that Korean and American workers are collaborating at the Philadelphia facility, introducing advanced shipbuilding techniques and automation technologies. He emphasized that Hanwha's planned $5 billion investment in Philadelphia, part of South Korea's broader $350 billion investment commitment to the United States, will substantially expand the American shipyard's production capacity.

The senator stressed that rebuilding America's shipbuilding capacity is crucial for strengthening the defense industrial base and competing with China, which currently accounts for less than 1 percent of global shipbuilding. McCormick also highlighted the importance of investments from close allies like South Korea and Japan in rebuilding American shipbuilding and defense manufacturing capabilities.

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