A U.S. Senator, a Korean Conglomerate, and 1,000 Maritime Dealmakers Walk into the Pierre Hotel
Marine Money Week 2025 was, as always, the singular occasion in shipping to reconnect with global friends in the industry and synthesize perspectives on shipping’s next big area of opportunity–U.S. shipping stood out this year.
Given Senator Kelly’s (D-AZ) standing-room-only keynote to kick-off the conference, clearly all eyes are on the revitalization of the American maritime sector and the SHIPS for America Act.
Later that day, the CEO of Hanhwa Philly Shipyard, David Kim, and President of Hanwha Shipping, Ryan Lynch, addressed the crowd, voicing the Korean conglomerate’s full-throated support and enthusiasm for the the SHIPS for America Act and indicating their active role in the U.S. maritime sector going forward.
To date, Hanwha has invested approximately $216 million into U.S. shipyards. While that may seem like a substantial figure, it’s worth keeping in mind that the larger Hanwha Group had sales of $61.3 billion in 2023 at a rate of more than $168 million in revenue per day.
As for the rationale behind the clear alignment of interests between the U.S. government and the 7th largest business in South Korea… one can’t help but conclude that their shipbuilding cooperation is likely part of a much deeper, strategic, geopolitical relationship between two allied nations at an increasingly fraught time.
Thanks to the Marine Money team for a fantastic event, as always.
