A Key Leverage Point in Tariff Negotiations... Visit to Hanwha Philly Shipyard
Attending the Naming Ceremony for the U.S. Maritime Administration's Multi-Mission Vessel Built with Korean Technology
Hanwha Group Vice Chairman Kim Dongkwan and Hanwha Ocean CEO Kim Heechul Also Present
President Lee: "Philly Shipyard Will Open a New Chapter for a Future-Oriented Comprehensive Strategic Alliance"
Vice Chairman Kim: "We Will Be a Reliable Partner for the Lee Administration's Shipbuilding Industry"
On the 26th (local time), President Lee Jaemyung visited the "Hanwha Philly Shipyard" in Philadelphia, United States, and stated, "Through the 'MASGA (Make American Shipbuilding Great Again)' project, the shipbuilding industries of both the United States and Korea will achieve a 'win-win' outcome by advancing together." The MASGA project, which has become a key leverage point in tariff negotiations with the United States, focuses on cooperation for a Korea-U.S. shipbuilding 'win-win,' encompassing shipyard modernization, workforce development, and collaboration in ship construction. U.S. President Donald Trump had also requested active cooperation from President Lee during the Korea-U.S. summit the previous day to help rebuild the declining American shipbuilding industry.
That afternoon, President Lee delivered congratulatory remarks at the naming ceremony of the National Security Multi-Mission Vessel (NSMV) "State of Maine," commissioned by the U.S. Maritime Administration at the Philly Shipyard. He stated, "Facing the world's number one strength and capability, Philly Shipyard will be reborn as America's premier shipyard showcasing cutting-edge vessel technology, and shipbuilding will be revitalized across the American maritime belt." President Lee also added, "Korean shipyards will invest in U.S. shipyards, nurture outstanding talent, and help ensure that advanced process technologies take root in the United States."
The naming ceremony was attended by Foreign Minister Cho Hyun, Minister of Trade, Industry and Energy Kim Jungkwan, National Security Advisor Wi Sunglak, Presidential Policy Chief Kim Yongbeom, Kang Kyungwha, Ambassador-designate to the United States, Lee Sangho, Acting Consul General in New York, Lee Jaeyong, Head of the Philadelphia Office, Hanwha Group Vice Chairman Kim Dongkwan, Hanwha Ocean CEO Kim Heechul, Philly Shipyard CEO David Kim, and Yungjin Chairman Park Ildong. On the U.S. side, Pennsylvania Governor Josh Shapiro and Pennsylvania Representative Mary Gay Scanlon were also present.
The "Hanwha Philly Shipyard" in Philadelphia was established as a U.S. Navy shipyard in 1801, transitioned to a private shipyard in 1997, and was acquired by Hanwha Group for 100 million dollars in December of last year. This marks the first time a Korean shipbuilding company has acquired a local U.S. shipyard.
The "State of Maine," named on this day, is the first vessel completed since the shipyard began its new chapter as Hanwha Philly Shipyard. Hanwha Philly Shipyard is set to build a total of five NSMVs commissioned by the U.S. Maritime Administration (MARAD), each priced at 300 million dollars, and the vessel named today is the third of the five.
This vessel will serve as a training ship for maritime academy cadets during peacetime and will be deployed for disaster response and rescue missions in emergencies, making it a multi-purpose vessel. Notably, Korean shipbuilding specialist DSEC has been involved from the design stage and procurement of equipment, making this a representative example of Korea-U.S. shipbuilding cooperation that combines Korean technology and supply chains with American facilities and workforce.
President Lee remarked, "The driving force behind Korea-U.S. shipbuilding cooperation is the business leaders and workers present here," and encouraged, "Just as Korean business leaders and workers achieved the 'K-Shipbuilding' miracle from barren land, let us join forces to make the MASGA miracle a reality." He further emphasized, "Through Philly Shipyard, the 72-year Korea-U.S. alliance will open a new chapter as a 'future-oriented comprehensive strategic alliance' that combines security, economy, and technology."
Earlier, Vice Chairman Kim expressed in his welcoming speech, "I deeply appreciate the leadership shown by President Trump and President Lee in strengthening the Korea-U.S. alliance through the shipbuilding industry," and added, "The naming ceremony of the State of Maine demonstrates the tangible achievements of Korea and the United States jointly rebuilding the shipbuilding industry, expanding shipbuilding capabilities, and investing in the development of skilled talent to lead future industries."
Vice Chairman Kim continued, "Hanwha promises to be a reliable partner in opening a new chapter for the American shipbuilding industry," and stated, "In line with the vision for the revival of the shipbuilding industry presented by President Trump and President Lee, we will create new investments and opportunities with our U.S. partners and play a central role in making American shipbuilding great again."
Going forward, Hanwha plans to increase Philly Shipyard's production capacity from the current 1.5 vessels per year to around 20 vessels annually through additional investments, and in the mid- to long-term, to secure the capability to manufacture large, advanced vessels such as LNG carriers. In this regard, President Lee requested that the accompanying U.S. government officials provide institutional support to ensure that Korean companies' investments proceed smoothly and that their business operations in the United States face no obstacles.
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