Trump highlights Hanwha's role in US Navy frigate plan
US President Donald Trump said Monday that the US Navy plans to build a new class of frigate in cooperation with South Korea’s Hanwha Group, a move anticipated to speed up the $150 billion bilateral shipbuilding investment initiative known as "Make American Shipbuilding Great Again," or MASGA.
Speaking at a press conference at Mar-a-Lago estate in Florida, Trump announced a new battleship plan for the so-called Golden Fleet vision for revitalizing the US maritime industry, which includes constructing a new class of frigate with Hanwha.
“Last week, the Navy announced a brand new class of frigate and they’re going to be working with South Korean company Hanwha,” Trump said.
His remarks follow the US Navy’s announcement Friday that it plans to deploy a new class of combat vessels that are smaller and more agile, designed to complement larger, multimission warships. By explicitly naming Hanwha, Trump signaled Washington’s openness to foreign collaboration in military shipbuilding, a sector long restricted to domestic producers.
Trump praised Hanwha as “a good company” and said the company had agreed to invest $5 billion in a Philadelphia naval shipyard, apparently referring to Hanwha Philly Shipyard, which the conglomerate acquired last year. Trump said the facility, once a great shipyard, had been closed for years and is now reopening, working with private companies and the US Navy.
The comments referred to Hanwha Group’s previously announced $5 billion investment plan for the yard, unveiled in August, which includes infrastructure upgrades such as two additional docks and three quays to increase capacity.
However, no formal agreements related to frigate construction have yet been disclosed. A Hanwha Ocean official said no decisions have been made regarding an order, timeline or finalized deal.
Still, Trump's mention of Hanwha has raised expectations that MASGA is beginning to take concrete shape, with industry observers anticipating further shipbuilding announcements in the coming months.
According to industry sources, Hanwha Ocean has applied to the US government for a facility clearance license for the Philly Shipyard, a key security certification necessary for sensitive defense projects such as US Navy programs. Approval would allow the yard to participate in military construction, including frigates and potentially submarines.
Under the MASGA project, the South Korean government will support shipbuilders such as Hanwha Ocean, HD Hyundai and Samsung Heavy Industries through direct investment, loans and guarantees for projects aimed at revitalizing and strengthening US maritime capabilities. Major potential investment areas involve acquiring and modernizing US shipyards, building vessels, supplying equipment and parts, as well as conducting maintenance, repair and overhaul work.
Although the two governments signed a memorandum of understanding in November outlining the overall framework for the investment, no specific project has yet been designated as the first beneficiary, with observers saying Hanwha could emerge as the initial recipient.
The MASGA plan has been credited as a decisive factor in breaking the stalemate in the tariff negotiations. South Korea agreed to invest $350 billion, including $150 billion earmarked for the shipbuilding industry in the US, and in return, the tariffs were reduced from 25 percent to 15 percent.
At Monday’s press conference, Trump announced that the US Navy will construct two new, large battleships under the “Golden Fleet” initiative to maintain military power and improve the industrial base.
Trump said the new battleships will be the “fastest, the biggest and by far 100 times more powerful than any battleship ever built,” adding that up to 25 could ultimately be constructed. Once completed, Trump said the vessels would be equipped to carry hypersonic and “extremely lethal” weapons.
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