Posted on November 4, 2026
Hanwha Philly Shipyard is accelerating its push into the U.S. market with the appointment of Kim Hyuk as its new president. Kim brings more than 25 years of experience in both naval and commercial shipbuilding.
The shipyard announced on Nov. 2 that it had appointed Kim, formerly head of the Smart Vessel Business Center at Hanwha Systems, as its new chief. Born in 1977, Kim graduated from Seoul National University with a degree in naval architecture and ocean engineering. He spent more than 25 years at Daewoo Shipbuilding & Marine Engineering and Hanwha Ocean, gaining experience in ship design, production and construction. He previously served as head of special vessel strategic planning and management at Hanwha Ocean, building expertise across both naval and commercial shipbuilding. At Hanwha Systems, he led the Smart Vessel Business Center, overseeing smart vessel projects, including unmanned surface vehicles. Kim succeeds David Kim, who helped lead Hanwha’s acquisition of the shipyard in 2024 and subsequently nearly doubled its local workforce, strengthening the business’s operational foundation.
The appointment comes at a pivotal time as Philly Shipyard expands beyond its traditional focus on commercial vessels to include naval shipbuilding. Kim is expected to help apply the advanced shipbuilding systems and practices used at Hanwha Ocean’s Geoje Shipyard to U.S. operations. The Geoje facility delivers 35 to 45 vessels annually. The goal is to raise Philly Shipyard’s productivity and operational efficiency by transferring large-scale shipbuilding experience and production management expertise to its local workforce, while strengthening its ability to deliver vessels on schedule and maintain quality standards.
Hanwha Group is developing Philly Shipyard into a dual-use facility capable of building both commercial and military vessels. The shipyard has recently secured several projects, including a contract in July with the U.S. Missile Defense Agency (MDA) to build a sea-based missile test instrumentation vessel and its selection as the builder of a Medium Landing Ship (LSM) for the U.S. Navy and Marine Corps. The MDA vessel contract was the first newbuild contract secured since Hanwha acquired the shipyard. The LSM contract is valued at approximately $269 million, or 357.5 billion won, and includes options for three additional vessels.
Kim will work alongside Tom Anderson, president of the shipbuilding division at Hanwha Defense USA, the U.S. subsidiary of Hanwha Aerospace. Hanwha Defense USA has secured a majority stake in Philly Shipyard, placing the yard under its management structure. Kim will report directly to Anderson, who oversees Hanwha’s U.S. shipbuilding operations. Anderson said Kim’s experience in large-scale shipbuilding at Korean yards would help restore the Philadelphia waterfront to its former role as the “Arsenal of Democracy.”
Hanwha Group plans to invest $5 billion in Philly Shipyard and expand its annual production capacity from the current 1 to 1.5 vessels to around 20. The expansion is a medium- to long-term target that will require equipment modernization and additional production facilities. The shipyard’s ownership structure has changed following Hanwha Defense USA’s acquisition of a majority stake, so the previously reported breakdown of 60% held by Hanwha Systems and 40% by Hanwha Ocean should not be treated as its current ownership structure. Philly Shipyard is also expected to serve as a key hub for the MASGA (Make American Shipbuilding Great Again) initiative, which aims to revitalize the U.S. shipbuilding industry.
In his remarks following the appointment, Kim said Philly Shipyard would serve as a cornerstone of efforts to rebuild the U.S. shipbuilding industry. He identified strengthening operational capabilities and expanding construction capacity as his top priorities, while pledging to develop a local workforce capable of supporting both commercial and naval shipbuilding programs.
Industry observers view the appointment as an important step in Hanwha’s efforts to expand its presence in the U.S. naval shipbuilding market. In March, Philly Shipyard participated in the conceptual design phase of the U.S. Navy’s Next-Generation Logistics Ship (NGLS) program alongside U.S. naval design firm Vard Marine US and Hanwha Defense USA. The team reviewed vessel productivity, construction methods and costs. This experience could provide a foundation for future bids for the main program. If production processes become more stable under Kim’s leadership, the shipyard could be better positioned to compete for U.S. government shipbuilding contracts.
