- Published 2026.11.10 02:29
First US Navy vessel construction contract since Hanwha acquisition, with options for three more ships
Kim Hyuk, a former Daewoo Shipbuilding executive, takes helm to accelerate US defense push
Hanwha Philly Shipyard, the US shipyard of Hanwha Group, has won its first order to build a vessel for the US Navy, accelerating its entry into the local defense market. The company has also appointed a shipbuilding expert with 25 years of experience as its new CEO to establish a full-scale production system.
According to TOTE Services, a US ship management company, and Hanwha Philly Shipyard on November 10, the shipyard recently signed a contract worth $269 million (about 370 billion won) to build one medium landing ship (LSM) for the US Navy and Marine Corps. The contract includes options for three additional ships.
This is the first US Navy vessel construction project won by Hanwha since it acquired Philly Shipyard in 2024. The US Navy plans to procure a total of 35 medium landing ships, and Hanwha Philly Shipyard will begin construction of the first ship in the fourth quarter of 2027 with delivery scheduled for 2030. The medium landing ship is 100 meters long and 16 meters wide and is a key asset for transporting Marine Corps personnel and equipment to shore.
Along with the order, a new leader has been appointed to run the local shipyard. On November 2, Hanwha Philly Shipyard officially named Kim Hyuk, former head of Hanwha Systems' Smart Naval Ship Business Center, as its new CEO. While former CEO David Kim led the acquisition of Philly Shipyard and initial workforce expansion, the new CEO will oversee full-scale ship construction and production capacity expansion.
Kim is a shipbuilding expert with more than 25 years of experience in commercial and special vessel design and construction at the former Daewoo Shipbuilding & Marine Engineering (now Hanwha Ocean) and Hanwha Systems. Tom Anderson, president of Hanwha Defense USA's US shipbuilding business, said, "The new CEO will transfer Hanwha Ocean's large-scale shipbuilding experience, which delivers 35 to 45 commercial ships and naval vessels annually, to American workers."
Hanwha Group recently secured management control of Philly Shipyard through its US defense subsidiary Hanwha Defense USA, pursuing a transformation into a combined shipyard that builds both commercial ships and warships. In his inaugural address, Kim said, "Based on the strong foundation built since Hanwha acquired the shipyard, we will expand production capacity and focus on workforce development that can support both commercial and naval programs."
※ This article is an AI translation of the Korean original published by Korea Credit News; it was checked by automated quality guards and published by the English edition desk.
