The United States is facing major challenges in its shipbuilding industry, which could harm the Navy’s ability to maintain global superiority. In response, the United States has turned on its allies, especially South Korea, to strengthen its naval shipbuilding capabilities.
South Korean shipbuilding giant Hanwha Ocean Co. has taken major steps to fill this gap. In June, the company acquired the Philly Shipyard for $100 million and has already secured a contract with the...