Summary

South Korea’s Hanwha Group owns the Philadelphia shipyard that has become a centerpiece of Washington’s attempt to rebuild American commercial shipbuilding. Its Hanwha Ocean and Hanwha Systems subsidiaries acquired the US yard in December 2024 . The investment creates and sustains American production capacity and jobs while transferring shipbuilding expertise, technology and training from South Korea to US workers. The facility is in America, but its corporate ownership remains South Korean.

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