Hanwha names new president of US shipyard in Philadelphia amid expansion

What happened: Hanwha Group named Kim Hyuk president of Hanwha Philly Shipyard, effective Monday, succeeding David Kim, as Hanwha Defense USA takes majority ownership of the facility. Key numbers: Kim Hyuk has more than 25 years of shipbuilding experience. Hanwha Ocean's flagship South Korean yard delivers 35 to 45 commercial and naval vessels a year. Why it matters: The appointment supports Hanwha's push to turn the Philadelphia yard into a dual-use shipyard building both commercial and military vessels, with Kim reporting to Tom Anderson of HDUSA.

Hanwha Group named Kim Hyuk president of Hanwha Philly Shipyard, effective Monday, succeeding David Kim, as Hanwha Defense USA takes majority ownership of the facility.

The appointment supports Hanwha's push to turn the Philadelphia yard into a dual-use shipyard building both commercial and military vessels, with Kim reporting to Tom Anderson of HDUSA.