
In a recent speech remarking on his three years in office, the Secretary of the Navy detailed some of the plans South Korea’s Hanwha have for the Philly Shipyard and the next step in developing the capability to re-arm naval missiles at sea. In June, Hanwha announced an agreement to purchase the Norwegian-owned Philly Shipyard for $100 million. The transaction is expected to close during the fourth quarter of FY 2024 if all goes according to plan (Defense Daily, June…