Acting U.S. Secretary of the Navy Hung Cao visited Hanwha's Philly Shipyard in Philadelphia, Pennsylvania, touring construction sites and receiving briefings on operations and production as the United States works to rebuild its domestic shipbuilding industry. Hanwha said Wednesday that the visit came as South Korea and the United States advance a $150 billion shipbuilding cooperation initiative under their broader strategic investment framework. The effort includes the Make American Shipbuilding Great Again initiative, known as MASGA, with Hanwha Ocean among the Korean shipbuilders expected to participate. The visit was the first disclosed trip by the Navy's top official to the yard in about a year and followed former Secretary of the Navy John Phelan's visit in September of last year, when he discussed U.S.-South Korea shipbuilding cooperation with Hanwha Group Vice Chairman Kim Dong-kwan. Cao has led the Navy since Phelan abruptly resigned in April, and U.S. President Donald Trump recently nominated him as the formal candidate for Secretary of the Navy. Hanwha is expanding Philly Shipyard's capacity, increasing its American workforce from 1,000 to more than 2,200 in approximately two years while Hanwha Ocean and Hanwha Systems improve equipment, workspace and logistics efficiency. The group is also pursuing a 100% acquisition of Austal USA, which has delivered 34 vessels to the U.S. Navy and participates in Virginia-class and Columbia-class nuclear-powered submarine module production with General Dynamics Electric Boat. A Trump-signed August memorandum temporarily allows qualifying foreign shipbuilders to build and deliver up to two warships at overseas parent shipyards to address delivery gaps. Requests for information from the U.S. Department of Defense and Navy regarding replenishment oilers and combatants have further sharpened the prospect of Hanwha entering the U.S. warship market. Separately, Hanwha Ocean became preferred bidder for a Royal Thai Navy frigate program valued at THB 16.73 billion, or approximately $508.5 million. The company is also pursuing programs in Saudi Arabia, the Middle East, Estonia, Egypt and Greece. Hanwha Ocean reported second-quarter revenue of ₩5.4432 trillion and operating profit of ₩736.1 billion, with a 13.5% operating margin, helped by a higher share of high-margin LNG carriers. An industry source said continued orders from Thailand, the United States, the Middle East and Europe would give further momentum to Hanwha Ocean's overseas defense expansion.