Alex 'Wong, 'global chief strategist at Hanwha Group said that the?Philly Shipyard of Hanwha has the ability to build a nuclear-powered submarine? for the U.S. Navy.

Wong stated during Hanwha's Hanwha media day in Philadelphia on Monday that "the U.S. Government's commitment to the nuclear-powered sub capability is very strong, both its own and the allies." "We are prepared to fulfill the ability to build these?submarines in Philly, when 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 spend $150 billion on the U.S. Shipbuilding Sector in a recent trade agreement to reduce the U.S. Tariffs on Korean Automobiles from 25% to 15%.

Trump said at a Monday press conference that Hanwha will build frigates for 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 $100m.

Executives?said that the company was hiring people with experience in Virginia-class subs, because they are seeing a strong interest from Washington to expand the U.S. industrial base for these designs.

Jongwoo Cho said that Hanwha was also in talks with potential partners about buying land or an extra dock for the expansion. He did not elaborate. (Reporting and editing by Heejin KIM; William Mallard).

(source: Reuters)