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Business/Financial

Hanwha Switches Up Subsidiary With Controlling Stake On Philly Shipyard

Tuesday, October 27th, 2026

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Hanwha Switches Up Subsidiary With Controlling Stake On Philly Shipyard

Hanwha Philly Shipyard's Dock 4 with its goliath crane in July 2025. (Photo: Defense Daily)

Hanwha Defense USA (HDUSA) on Tuesday announced it is acquiring the controlling stake in the Hanwha Philly Shipyard, a switch between business segments still within the South Korea Hanwha conglomerate. Hanwha Philly Shipyard CEO David Kim told reporters last year that Hanwha had split ownership of the Philly Shipyard between two segments: 60 percent by Hanwha Systems, a defense business segment, and 40 percent by Hanwha Ocean, the home firm’s primary shipbuilding business (Defense Daily, July 17, 2025). HDUSA now…

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