What Happened
Foreign Firms With US Investments Can Build Navy Vessels Overseas
The US has announced a plan to allow foreign shipbuilders with US investments to build up to two vessels at their parent shipyards, with South Korean companies set to benefit. Hanwha, which acquired Philly Shipyard in 2024, meets the requirements. The move aims to strengthen the US naval position against China in the Indo-Pacific, where officials have warned of a shipbuilding capacity shortfall. The plan requires foreign companies to train American workers and transfer proprietary techniques to their US operations, according to the South China Morning Post.