Two South Korean shipbuilding titans are throwing their weight into new efforts to revitalize U.S. shipbuilding, with two impactful business decisions announced this week.

Hanwha Group, South Korea’s seventh largest business conglomerate, announced on Aug. 27 a $5 billion investment in Hanwha Philly Shipyard, which it acquired last December.

The company will install two new docks and three quays, plus build out a new assembly facility to boost shipbuilding capacity from two vessels to at least 20 per year. The shipyard will produce LNG carriers, naval modules and eventually U.S. naval vessels.

Present at the announcement in Philadelphia was South Korean President Lee Jae Myung, who also took part in a ceremony to christen a new training vessel for the U.S. Maritime Administration.

“The

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