Philadelphia:Washington A U.S. senator recently praised South Korean conglomerate Hanwha Group for its significant role in revitalizing the American shipbuilding industry. The senator noted that Hanwha's investment in a Philadelphia shipyard is generating jobs and transferring advanced manufacturing technologies to the United States.
According to Yonhap News Agency, Sen. Dave McCormick (R-PA) made these remarks during a discussion at the Hudson Institute in Washington. This followed his visit to South Korea, where he toured one of Hanwha's shipyards and observed its advanced production capabilities.
Senator McCormick highlighted that the workforce at Philly Shipyard has grown to 2,200 employees from around 1,000 since Hanwha's acquisition. This rapid growth is part of South Korea's "Make American Shipbuilding Great Again" initiative, which seeks to rejuvenate the U.S. shipbuilding sector.
The senator also mentioned Hanwha's collaborative efforts between Korean and American workers in Philadelphia, introducing advanced shipbuilding techniques and automation technologies. Hanwha's planned $5 billion investment in the Philadelphia shipyard is a component of South Korea's larger $350 billion investment plan in the United States, aimed at expanding the shipyard's production capacity.
McCormick stressed the importance of rebuilding America's shipbuilding capacity to strengthen its defense industrial base, particularly in competition with China. He noted that the U.S. currently holds less than 1 percent of the global shipbuilding market.
The senator concluded that such investments from allies like South Korea and Japan could enhance American shipbuilding and defense manufacturing capabilities. He emphasized the mutual benefits, including advanced technology transfer and expanded market opportunities for foreign companies in the U.S.