[VT Philadelphia | August 26, 2025] South Korean President Lee Jae Myung visited Hanwha Philly Shipyard in Pennsylvania to attend the naming ceremony of the NSMV (National Security Multi-Mission Vessel) “State of Maine”, hosted by the U.S. Maritime Administration (MARAD). During the event, President Lee announced that South Korean companies will invest $150 billion in U.S. shipbuilding, including at least $5 billion for upgrading the Philadelphia shipyard.
The ceremony, attended by government, industry, and education leaders, marked a milestone in deepening economic and industrial cooperation between South Korea and the United States.
Hanwha’s Investment and Modernization Plan
Following his meeting with U.S. President Donald Trump, President Lee emphasized that U.S.-Korea relations extend beyond military alliance to strategic industrial collaboration. Hanwha and Hyundai plan to modernize the Philadelphia shipyard with the following objectives:
- Production Expansion: Increase annual shipbuilding from fewer than 2 vessels to up to 20 vessels per year.
- Employment Growth: Expand workforce from 1,700 to 5,000 employees.
- Apprenticeship Programs: Train approximately 200 new workers annually in collaboration with state authorities and labor unions.
- Modernization Investment: $70 million to upgrade dry docks and introduce advanced cranes and robotic systems.
- Long-Term Orders: Hanwha Shipping has ordered 10 Medium Range (MR) chemical and oil carriers, with the first vessel expected in 2029, and one additional LNG tanker.
David Kim, CEO of Hanwha Philly Shipyard, described the ceremony as the first since Hanwha’s acquisition, symbolizing the continuation of shipbuilding traditions and the revitalization of the U.S. shipbuilding industry through Korea-U.S. collaboration.
Political Leaders Highlight Strategic and Economic Significance
President Lee Jae Myung stated, “U.S.-Korea relations are not just a military alliance—they are a partnership in technology, industry, and workforce development. The expansion of the Philadelphia shipyard will create thousands of jobs and revitalize the shipbuilding sector, representing both commercial investment and the continuation of our alliance.”
Pennsylvania Governor Josh Shapiro welcomed President Lee: “Philadelphia, the birthplace of American freedom and democracy, is writing a new chapter in U.S. shipbuilding. With Hanwha and our workforce, this city will lead the industry forward.” He announced the formation of the Pennsylvania-Hanwha Leadership Task Force (PHL Task Force) to streamline permits, develop workforce training, and ensure smooth project implementation.
Congresswoman Mary Gay Scanlon highlighted Philadelphia’s historic role in U.S.-Korea relations, referencing the first Korean Congress held in the city over a century ago. She emphasized that Hanwha’s investment will revive the local shipbuilding industry and enhance training and high-skilled job opportunities for Maine Maritime Academy cadets.
Senator Todd Young of Indiana stressed Congress’ ongoing support for the Ships for America Act, which leverages private capital and workforce programs to strengthen U.S. shipbuilding capacity and national security.
Industry and Educational Perspectives
- Sang Yi, Acting Administrator, MARAD: Highlighted NSMV’s dual role as a training vessel and disaster response platform, demonstrating U.S. shipbuilding revival.
- Jeff Dixon, President of TOTE Services: Emphasized public-private cooperation to maintain a strong and reliable U.S. maritime infrastructure.
- Craig Johnson, President of Maine Maritime Academy: Noted the new vessel provides cadets with advanced green-energy and digital training systems, preparing them for careers in commercial shipping, naval service, and energy transport.
- Cadet Representative: Expressed honor in training aboard the “State of Maine,” describing it as both a professional starting point and symbol of the U.S. shipbuilding future.
Elaine Chao Names “State of Maine”
Acting Administrator of the U.S. Maritime Administration (MARAD) Sang Yi,
and David Kim, CEO of Hanwha Philly Shipyard
Photo by Elsie Shin, Korean Phila Times
Former U.S. Transportation and Labor Secretary Elaine Chao served as the naming sponsor, performing the traditional champagne bottle ceremony alongside Maine Maritime Academy cadets. She reflected on U.S. shipbuilding’s historic role in national security, maritime education, and humanitarian response, underscoring NSMV’s significance as a symbol of ongoing U.S.-Korea cooperation.
NSMV Program and Strategic Industrial Collaboration
The State of Maine is the third vessel in MARAD’s NSMV series, designed for cadet training and humanitarian missions. The NSMV program is projected to generate over 400,000 related jobs, playing a crucial role in reviving the U.S. merchant fleet.
Maine Maritime Academy, a leading maritime education institution, has trained generations of professionals in navigation, ship engineering, and nuclear power. The new NSMV provides cadets with hands-on experience on a modern, environmentally compliant training vessel while supporting emergency and strategic operations.
Hanwha’s 2019 acquisition of the Philadelphia shipyard represents a strategic investment in U.S. advanced manufacturing. The $150 billion investment signals long-term Korea-U.S. cooperation in energy, manufacturing, and shipbuilding sectors.
