PHILADELPHIA, PA — Hanwha Group has announced a $5 billion investment to expand operations at the Hanwha Philly Shipyard, a move expected to transform the facility into one of the most advanced shipbuilding hubs in the country and create thousands of new jobs.
Expanding Capacity and Capabilities
The program includes construction of additional docks and quays to increase capacity, with plans under review for a new block assembly facility. Once completed, the expansion could boost annual ship production from fewer than two vessels to as many as 20. Hanwha, a global leader in liquefied natural gas (LNG) vessels, intends to produce LNG carriers, naval modules and blocks, and eventually naval vessels from its U.S. shipyard.
The investment is projected to generate at least 5,000 new skilled labor positions directly at the shipyard, along with thousands more in related industries throughout the Philadelphia region.
Political and Industry Support
Senator Dave McCormick (R-PA), who has visited the shipyard multiple times, praised the announcement as a milestone for both Pennsylvania and the nation. “Hanwha Philly Shipyard already plays a critical role in American shipbuilding and is essential to the many Pennsylvanians who work there, but this investment is a gamechanger for the city, the commonwealth, our workers, and the country,” McCormick said. He credited the Trump administration for backing efforts to rebuild America’s shipbuilding capacity and emphasized the project’s importance for national security and economic growth.
Hanwha Group Vice Chairman Dong Kwan Kim reinforced the company’s commitment, stating that Hanwha intends to be a long-term partner in advancing American shipbuilding. Labor leaders also welcomed the expansion. Paul A. Mullen, business manager for I.B.E.W. Local #654, said the project represents the kind of public-private partnership needed to deliver “quality, high-paying, skilled labor jobs and further strengthen opportunities for growth.”
Strengthening America’s Maritime Industry
The investment comes as part of a broader push to revitalize U.S. shipbuilding. Senator McCormick has long advocated for policies that bolster the maritime industrial base, including provisions in the National Defense Authorization Act for Fiscal Year 2026 to expand capacity. He also co-sponsored the SHIPS for America Act of 2025, aimed at strengthening both the shipbuilding sector and the workforce that supports it.
With this expansion, Hanwha Philly Shipyard is positioned to play a central role in the U.S. maritime industry’s revival, advancing both economic opportunity in Pennsylvania and national security priorities.
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