Hanwha's Kim Seung-youn Bets $150 Billion on MASGA Project and AI Future
Hanwha Chairman Kim Seung-youn's 2026 New Year's address highlights the $150 billion MASGA project and AI tech goals. Discover how Philly Shipyard is leading Hanwha's U.S. defense strategy.
They've shaken hands, but their fists remain clenched in the intensifying global market competition. Hanwha Group Chairman Kim Seung-youn isn't backing down. In his New Year's address on Jan. 2, 2026, Kim called for an aggressive push into Artificial Intelligence (AI) and defense technologies, while spearheading the MASGA (Make American Shipbuilding Great Again) project to revitalize the U.S. maritime industry.
Hanwha Kim Seung-youn MASGA Project: The Philly Shipyard Pillar
Chairman Kim stressed that Hanwha must lead the Seoul-Washington industrial alliance, centered on the Philly Shipyard. Hanwha acquired the shipyard for 140 billion won ($97 million) in 2024, marking the first time a South Korean shipbuilder has taken over a U.S. facility to directly target U.S. Navy contracts.
The scope of cooperation is expanding beyond commercial ships. Kim highlighted the need to build naval vessels and nuclear-powered submarines. "Only by possessing core technologies that determine the future can we continue to lead for the next 50 or 100 years," he declared, framing AI and defense as the bedrock of Hanwha's survival.
A Strategic Trade-Off Worth $150 Billion
This initiative follows a landmark trade deal signed in July 2025. South Korea pledged $350 billion in total investment and $100 billion in energy purchases in exchange for lowering U.S. reciprocal tariffs from 25% to 15%. Remarkably, $150 billion of that investment has been specifically earmarked for the MASGA project, providing Hanwha with massive financial tailwinds.
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