Alex Wong is the global chief strategy officer of Hanwha Group. According to a press release issued by the South Korean firm on Thursday, the company's Philly Shipyard can build a nuclear submarine for the U.S. Navy.

Wong, who spoke at the Hanwha media day in Philadelphia on Monday, said that the U.S. commitment to nuclear submarines is strong. We are prepared to fulfill?the capability to build these submarines in Philly as soon as the?governments decide to do so.

South Korea's shipbuilders have placed a large bet on President Donald Trump’s desire to revive the struggling U.S. Shipbuilding Industry. Seoul committed to investing $150 billion in the U.S. shipbuilding industry in a recent trade agreement to reduce the U.S. import tariffs for Korean cars to 15%.

Trump said at a Monday press conference that Hanwha will build?frigates to be used by the U.S. Navy. Hanwha was called "a good company" by Trump, referring to the $5 billion expansion planned for?the Philly Shipyard which Hanwha purchased in 2024 for a $100 million.

Executives said that the company was hiring people with experience in Virginia-class subs, because they see Washington's interest in expanding the U.S. industrial base to include such designs.

Jongwoo Cho said that Hanwha was also in discussions with potential partners about buying land or an extra dock to expand the shipyard. He did not elaborate. Heejin KIM (Reporting; William Mallard, Editing)

(source: Reuters)