As U.S. President Donald Trump directly named Hanwha as a partner for building the "Golden Fleet," a core part of the U.S. Navy's reconstruction, Hanwha has stated that it is ready at any time. Accordingly, the shipbuilding investment project agreed upon by the leaders of South Korea and the United States, known as MASGA (Make American Shipbuilding Great Again), is expected to gain momentum starting next year.
On the 23rd, Hanwha Ocean responded to President Trump's remarks by stating, "Hanwha is prepared to build any type of vessel required by the U.S. Navy at the Hanwha Philly Shipyard."
Trump: "U.S. Navy's 'Golden Fleet' frigates to be built in cooperation with Hanwha"
Previously, on the 22nd (local time), President Trump announced the U.S. Navy's "Golden Fleet" initiative and stated that new frigates would be built in cooperation with Hanwha. However, President Trump did not specify the details of the collaboration between the Navy and Hanwha.
At a press conference held at his Mar-a-Lago estate in Florida, President Trump said, "Last week, the Navy announced a new class of frigates (construction plan)," adding, "They will work with a company from Korea." He introduced this company as "Hanwha, a good company," and stated, "(Hanwha) has agreed to invest $5 billion (about 7.4 trillion Korean won) in the Philadelphia Navy Yard."
President Trump specifically explained that the U.S. Navy is seeking cooperation with a private company like Hanwha because the frigates are "needed right now." This is interpreted as a shift in focus to Korea's rapid shipbuilding capabilities after delays in the frigate project originally planned for Italy.
President Trump also made remarks suggesting that Hanwha had acquired the Philly Shipyard. He said, "That was a great shipyard," adding, "It was closed a long time ago, but it has reopened and is now working with the U.S. Navy and private companies."
Hanwha: "Ready to build any type of vessel required"
The Hanwha Philly Shipyard is located on a portion of the Philadelphia Navy Yard in the United States, covering about 1.4 million pyeong. As of January, the Philly Shipyard employs over 1,200 skilled workers. Hanwha is currently developing a mid- to long-term management plan, including compliance with the U.S. Jones Act and expansion of naval projects, and will determine additional hiring levels based on comprehensive considerations such as business expansion and the introduction of automation technologies.
Hanwha Ocean plans to integrate its eco-friendly ship technology and smart production systems into the Philly Shipyard to create technological synergy and increase its market share in the high-value-added ship sector. The company aims to strengthen its presence in the North American shipbuilding market and expand orders in the shipbuilding market required under the U.S. Jones Act. Hanwha also plans to actively pursue orders for defense-related vessels, including offshore wind installation vessels and maintenance, repair, and operations (MRO) ships.
Regarding supply chain management, Hanwha Ocean intends to localize key materials and parts needed for operating the Philly Shipyard, taking into account the unique characteristics of the North American shipbuilding and defense industries, and to establish a stable supply chain.
The Philly Shipyard is also expected to serve as an important base for the construction and MRO of U.S. Navy vessels. Currently, the U.S. Navy is facing a shortage of ship production facilities, and the Philly Shipyard is considered the optimal facility to address this issue.
On the 22nd (local time), U.S. President Donald Trump announced the U.S. Navy's next-generation warship construction plan called the "Golden Fleet" concept at the Mar-a-Lago resort in Palm Beach, Florida. President Trump stated that the "Trump-class" battleship named after him will be "the largest in American history and the greatest battleship in world history." Photo by AFP Yonhap News
The key feature of the Golden Fleet announced by President Trump is the reintroduction of "battle ships," which have disappeared since the Cold War era. The construction of heavy battleships was last seen in 1994, as their naval guns lost their advantage in strike range to carrier-based aircraft and destroyer-launched missiles. The current mainstay of the U.S. Navy is the Arleigh Burke-class destroyer (with a displacement of about 9,500 tons). According to President Trump, the Golden Fleet will introduce as its flagship a "largest, most robust, and most heavily armed vessel" weighing between 30,000 and 40,000 tons. He stated that these ships would be equipped not only with naval guns, but also with missiles, hypersonic weapons, electromagnetic railguns, high-power lasers, and even nuclear weapons (sea-launched cruise missiles with nuclear warheads).
Hanwha Philly Shipyard mentioned... Attention on whether it will become the first MASGA investment target
If Hanwha participates in the frigate construction project, there is interest in whether it will become the first investment target of MASGA, a $150 billion shipbuilding investment package that Korea pledged during trade negotiations with the United States.
South Korea has agreed to provide an investment package consisting of investments, loans, and guarantees to help rebuild the U.S. shipbuilding industry. The two countries signed a memorandum of understanding outlining the general investment procedures last November, but have not yet announced the first investment destination. It is reported that there have been no official discussions between the two countries on using the MASGA investment package for the U.S. Navy's frigate construction.
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