Hanwha Philly Shipyard Names Hyuk Kim President Amid Navy Push

Hyuk Kim, a shipbuilding veteran with more than 25 years of naval and commercial experience, becomes president of Hanwha Philly Shipyard on November 2, taking charge of a Philadelphia yard that just won a $269 million U.S. Navy shipbuilding contract.

The appointment lands days after Hanwha Defense USA (HDUSA) was selected to build a Medium Landing Ship (LSM) for the U.S. Navy and Marine Corps. The agreement with TOTE Services covers one vessel, with options for three additional ships — a deal valued at $269 million and a milestone for South Korea's Hanwha in the American defense market.

Kim succeeds David Kim, who steered the yard through Hanwha's acquisition in 2024 and a near doubling of its workforce since then. The incoming president built his career at Hanwha Ocean and its predecessor, Daewoo Shipbuilding & Marine Engineering, where he held senior positions. Hanwha Ocean's flagship South Korean shipyard produces between 35 and 45 commercial and naval vessels annually, according to the company.

Who does the new president report to?

Under a broader restructuring announced last week, the Philadelphia yard now sits under the control of Hanwha Defense USA, the U.S. subsidiary of Hanwha Aerospace. Kim reports directly to retired Rear Adm. Tom Anderson, HDUSA's president of U.S. shipbuilding, who oversees the company's American shipbuilding operations.

Anderson framed the yard's transformation in historical terms. "Hanwha's upgrades and investments in Philly Shipyard are enabling the yard to now build for the federal government as well as commercial ships, bringing the Philadelphia waterfront back to its roots as a key part of the Arsenal of Democracy," he said.

What contracts has the yard won under Hanwha?

The LSM award is the second major defense win for the facility in four months. In July, the shipyard secured a contract to build a Missile Range Instrumentation Vessel for the Missile Defense Agency — its first new-construction contract under Hanwha ownership.

Hanwha acquired the Philadelphia shipyard in December 2024 and has since outlined plans to modernize facilities, expand production capacity and transfer South Korean shipbuilding expertise to the United States. The defense pivot marks a significant turn for a facility long ranked among America's most important commercial yards. According to Hanwha, the yard has delivered approximately half of all large oceangoing Jones Act commercial vessels built in the United States since 2000.

That track record matters for U.S. maritime policy. Jones Act tonnage — vessels built domestically for domestic routes — is a protected market, and Philadelphia has been one of its pillars for two decades.

Can one yard serve both markets?

The expansion raises a structural question for the U.S. maritime industry: whether Hanwha can substantially increase naval production while continuing to serve commercial shipbuilding demand. American shipbuilders face chronic capacity constraints, and any shift of yards, labor and slipways toward Navy work could tighten the supply of Jones Act vessels.

Hanwha says its goal is a dual-use shipyard capable of supporting both markets. The choice of a president with high-volume shipbuilding experience signals that intent.

"By building on the strong foundation established in the months since Hanwha acquired the yard, we will focus on strengthening operational excellence, expanding shipbuilding capacity, and developing the workforce needed to support both commercial and naval programs," Kim said.

For shippers and operators dependent on Jones Act tonnage, the yard's execution under its new president will test whether defense and commercial construction can genuinely coexist on the Philadelphia waterfront. With the LSM contract signed, options for three more ships on the table, and a Missile Defense Agency vessel already in the order book, the balance tilts — for now — toward naval work.