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Ep. 08 - Inside Hanwha Defense's $5B Bet on American Shipbuilding
About the Company
Hanwha Defense USA is the American arm of South Korea’s Hanwha Group, one of the world’s largest defense and industrial conglomerates. In the U.S., Hanwha operates the Philly Shipyard—the only major commercial shipyard on the East Coast—alongside munitions production facilities and a growing portfolio spanning solar power, optics, and advanced manufacturing. The company has pledged $5 billion in foreign direct investment to expand American shipbuilding capacity, with plans to transform Philly Shipyard from producing 1-2 ships annually to 20 ships per year within a decade.
About the Guest
Mike Smith is the COO of Hanwha Defense USA. A former Navy nuclear Surface Warfare Officer (SWO) who served aboard the USS Valley Forge (CG-50), Mike brings over 24 years of defense industry experience spanning United Defense, BAE Systems, Huntington Ingalls Industries (where he served as Chief Strategy Officer), and Lockheed Martin. His career has touched energetics, artillery, precision-guided munitions, shipbuilding, ship design, and weapon systems.
Key Topics of Conversation
* Hanwha’s $5 billion investment in U.S. shipbuilding and munitions capacity
* From 800 to 2,200 employees at Philly Shipyard … in one year
* Industrial automation, cobots, and the future of shipyard safety
* Korean shipbuilding culture
* Building submarines
* The supply chain challenge and why Congressional “regular order” matters
* The Vessel Construction Manager (VCM) model
* Balancing commercial and naval work
* Golden Fleet, MUSVs, and the case for smaller distributed platforms
* Hanwha’s three commitments
Key Links
About Hanwha Defense USA: https://hanwhadefenseusa.com/
About Rebuilding the Fleet: https://www.linkedin.com/company/rebuilding-the-fleet
Follow Mike: https://www.linkedin.com/in/mikesmithstratgen/
Follow Austin: https://www.linkedin.com/in/austinelliottgray/
Follow Tim: https://www.linkedin.com/in/tglinatsis/
Subscribe to Rebuilding the Fleet:
* YouTube: https://www.youtube.com/@RebuildingTheFleet
This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit austinegray.substack.com
View all episodes
By Austin Gray & Tim GlinatsisAbout the Company
Hanwha Defense USA is the American arm of South Korea’s Hanwha Group, one of the world’s largest defense and industrial conglomerates. In the U.S., Hanwha operates the Philly Shipyard—the only major commercial shipyard on the East Coast—alongside munitions production facilities and a growing portfolio spanning solar power, optics, and advanced manufacturing. The company has pledged $5 billion in foreign direct investment to expand American shipbuilding capacity, with plans to transform Philly Shipyard from producing 1-2 ships annually to 20 ships per year within a decade.
About the Guest
Mike Smith is the COO of Hanwha Defense USA. A former Navy nuclear Surface Warfare Officer (SWO) who served aboard the USS Valley Forge (CG-50), Mike brings over 24 years of defense industry experience spanning United Defense, BAE Systems, Huntington Ingalls Industries (where he served as Chief Strategy Officer), and Lockheed Martin. His career has touched energetics, artillery, precision-guided munitions, shipbuilding, ship design, and weapon systems.
Key Topics of Conversation
* Hanwha’s $5 billion investment in U.S. shipbuilding and munitions capacity
* From 800 to 2,200 employees at Philly Shipyard … in one year
* Industrial automation, cobots, and the future of shipyard safety
* Korean shipbuilding culture
* Building submarines
* The supply chain challenge and why Congressional “regular order” matters
* The Vessel Construction Manager (VCM) model
* Balancing commercial and naval work
* Golden Fleet, MUSVs, and the case for smaller distributed platforms
* Hanwha’s three commitments
Key Links
About Hanwha Defense USA: https://hanwhadefenseusa.com/
About Rebuilding the Fleet: https://www.linkedin.com/company/rebuilding-the-fleet
Follow Mike: https://www.linkedin.com/in/mikesmithstratgen/
Follow Austin: https://www.linkedin.com/in/austinelliottgray/
Follow Tim: https://www.linkedin.com/in/tglinatsis/
Subscribe to Rebuilding the Fleet:
* YouTube: https://www.youtube.com/@RebuildingTheFleet
This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit austinegray.substack.com