The Korea Times Feb 21 25
Shipbuilding rivalry heats up in US :
Korea's two rival shipbuilders made respective efforts this week to expand their presence in the U.S ...
koreatimes.co.kr/www/tech/2025/02/419_392650.html
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shipbuilder of South Korea
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Paid articlePaywallKey FactsSouth Korea's Hanwha to Acquire American Shipyard for $100m
Jun 21, 2024 · Reading time: ~30 sec.
Summary created with AI assistance · Source: asia.nikkei.com
Summary created with AI assistance · Source: asia.nikkei.com
- Norwegian-owned Philly Shipyard in Philadelphia, Pennsylvania, has finalized a share-purchase agreement valued at $100 million with South Korean defense contractor Hanwha Systems and its subsidiary Hanwha Ocean.
- US Navy Secretary Carlos Del Toro hails the Philly Shipyard deal as a groundbreaking milestone.
- The announcement of this investment comes four months after Del Toro's visits to shipyards in South Korea and Japan, where he advocated for Asian shipbuilders to invest in American shipyards.
- Philly Shipyard, situated in Philadelphia, Pennsylvania, is a commercial shipyard established on a section of the former Philadelphia Naval Shipyard, which ceased operations in 1996.
The Korea Times Jun 15 24
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