South Korea’s Hanwha Group has officially completed its $100 million acquisition of Philly Shipyard, a leading U.S. shipbuilder.
The shipyard, now renamed Hanwha Philly Shipyard, will continue operations under the leadership of David Kim, who has been appointed as the new CEO.
Kim, who previously served as the executive vice president for Hanwha Defense USA, played a key role in the acquisition process.
The acquisition, which received approval from the Committee on Foreign...