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Trump Unveils Hanwha Frigate Deal, Stock Soars 10%

12/23/2025

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Summary

Story summary

U.S. President Donald Trump announced that Hanwha Ocean will build new frigates.
Hanwha Ocean's stock rose about 10% on the news.
The frigates will be built at Hanwha Philly Shipyard in Philadelphia, acquired in 2024.
The company plans to invest $5 billion as part of South Korea's $150 billion shipbuilding commitment.
The move follows a U.S.-South Korea trade deal that reduced tariffs on South Korean exports.

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Story summary

U.S. President Donald Trump announced that Hanwha Ocean will build new frigates.
Hanwha Ocean's stock rose about 10% on the news.
The frigates will be built at Hanwha Philly Shipyard in Philadelphia, acquired in 2024.
The company plans to invest $5 billion as part of South Korea's $150 billion shipbuilding commitment.
The move follows a U.S.-South Korea trade deal that reduced tariffs on South Korean exports.