US senator hails Hanwha's role in revitalizing American shipbuilding industry

What happened: US Sen. Dave McCormick said Hanwha Group's investment in Philadelphia's Philly Shipyard is creating jobs and transferring advanced shipbuilding technology to the US, following his visit to a Hanwha shipyard in South Korea. Key numbers: Philly Shipyard now has 2,200 workers, up from about 1,000 when Hanwha acquired it. Why it matters: McCormick said rebuilding US shipbuilding capacity is critical to the defense industrial base and to competing with China, and that South Korea and Japan could play important roles in that effort.

US Sen. Dave McCormick said Hanwha Group's investment in Philadelphia's Philly Shipyard is creating jobs and transferring advanced shipbuilding technology to the US, following his visit to a Hanwha shipyard in South Korea.

McCormick said rebuilding US shipbuilding capacity is critical to the defense industrial base and to competing with China, and that South Korea and Japan could play important roles in that effort.