Hanwha Philly Shipyard

Now the memorandum also provides a national security waiver from long-standing restrictions on foreign construction of U.S. Navy vessels.

In Korea, HANA could potentially qualify after acquiring Philly Shipyard in Philadelphia if Korea wins an order.

A US Navy delegation reportedly visited HANA Ocean, Hyundai Heavy Industries and SK Ocean Plant in late August.

following earlier US requests for information from Korean shipbuilders.

So, you know, making sure that Matt and I participate in a government shipbuilding council, right? And so that's an opportunity for us to educate NOAA, Army, Army Corps of Engineers, other agencies, not with the word army in it, that have vessels that we have an interest in building and maintaining, but also crewing and providing a market for, that there's commercial potential applications that might have military utility.

And again, this has bipartisan you know uh interest in this we were up at the uh the christening of the lone star state which is the latest national security multi-mission vessel up at hanwha philly shipyard philadelphia and we had a democratic congresswoman there who represents the shipyard it's in her district she's incredibly passionate about the shipyard We also had Secretary Duffy there, as well as OMB Director Vogt.

And it was a very bipartisan atmosphere that really wanted to celebrate, you know, the shipyard itself, but the mariners that we were going to be training, the opportunities for these ships to work and support the revitalization of the maritime industry in the United States.

And so I think that That's one of the things that we are, you know, focused on doing moving forward is, again, understanding that whole ecosystem picture.

Obviously, you and I are talking about quantum.

But I was up at the Philly shipyard, which is owned by Hanwha, a South Korean company.

And they're putting $5 billion into an investment that they already made to expand shipbuilding.

So it's not just all about technology.

When are we going to really see the fruit of all these foreign investments?

It's already happening.

So I'll give you the example of the Philly shipyard, like I just mentioned.

They are hiring.