PHILADELPHIA, PA — Senator Dave McCormick (R-PA) today applauded Hanwha Group’s historic $5 billion investment in the Hanwha Philly Shipyard and greater Philadelphia area. The $5 billion program will be dedicated to the installation of additional docks and quays to increase capacity. Hanwha is also reviewing the build-out of a new block assembly facility.
Through this expansion, Hanwha aims to increase Philly Shipyard’s annual production volume from less than two vessels to up to 20. As a global leader in LNG vessels, Hanwha aims to produce LNG carriers, naval modules and blocks, and, in the long-term, naval vessels out of its U.S. shipyard. This investment is also expected to create at least 5,000 new skilled labor jobs at the shipyard along with thousands of additional indirect jobs in the region.
Senator McCormick has visited the Hanwha Philly Shipyard on multiple occasions, including with Transportation Secretary Sean Duffy in April.
“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,” said Senator McCormick. “Thanks to the strong leadership of President Trump and his team, the rebuilding of our shipbuilding industry will begin right here in Philadelphia. I’m also grateful to DK Kim and his team at Hanwha for this incredible partnership. I look forward to working together and doing my part to secure the additional resources needed to maximize this critical investment so that we can restore America’s shipbuilding capacity, bolster our national security and economy, and create high-paying jobs in Pennsylvania.”
“Hanwha is committed to being a partner in building the next chapter of American shipbuilding,” Hanwha Group Vice Chairman Dong Kwan (DK) Kim said.
“I applaud this significant investment in the Hanwha Philly Shipyard and the meaningful employment opportunities it will provide for working families. Senator McCormick’s continued focus and advocacy to help support this investment represents the kind of partnership we need – one that creates quality, high-paying, skilled labor jobs and further strengthens opportunities for growth in the years to come,” said Paul A. Mullen, Business Manager, I.B.E.W Local #654.
BACKGROUND
Since taking office, Senator McCormick has visited the Hanwha Philly Shipyard on multiple occasions, including with Transportation Secretary Sean Duffy in April. He has also long advocated for a revitalization of America’s shipbuilding capacity as a means to improve our nation’s defense, boost our economy, and create skilled American jobs. That advocacy includes meeting with Defense Secretary Hegseth, along with representatives from Hanwha, and outreach to other Cabinet officials to discuss the key role the shipyard can play in bolstering our nation’s defense.
With his vote for the One Big Beautiful Bill Act, Senator McCormick supported additional investment that will revitalize and rebuild America’s maritime industrial base and enhance workforce development to promote national security and economic prosperity. Additionally, he has worked to include provisions in the National Defense Authorization Act for Fiscal Year 2026 (NDAA) that would help expand the shipyard’s capacity.
Senator McCormick is also a cosponsor of the SHIPS for America Act of 2025, which in addition to working to revitalize the U.S. shipbuilding and maritime industries, invests in recruitment, training, and retention of mariners and shipyard workers to rebuild the maritime workforce.
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