FF(X) program prioritizes ship count by 2028, sparking concerns over fleet survivability in high-intensity conflict

U.S. President Donald Trump announced on Monday that the U.S. Navy will partner with Hanwha Ocean to construct a new class of escort ships under the FF(X) frigate program. Speaking at Mar-a-Lago, Trump identified Hanwha as a primary partner in his “Golden Fleet” initiative, citing the firm’s $5 billion investment in the Philadelphia Shipyard as a cornerstone of efforts to revitalize U.S. shipbuilding capacity. The FF(X) program will draw on a design adapted from the Legend-class National Security Cutter to meet a 2028 launch target.

Following the announcement, Hanwha Ocean shares rose 10% on the KRX as markets priced in expectations of a sustained, multi-year U.S. procurement pipeline. Secretary of the Navy John Phelan confirmed a “multi-yard strategy” that leverages Hanwha’s Philadelphia facility to produce vessels at volumes exceeding current U.S. domestic capacity. The initiative is part of a broader trade agreement in which Seoul committed $150 billion toward U.S. maritime cooperation in exchange for tariff stability.

U.S. President Donald Trump announced on Monday that the U.S. Navy will partner with Hanwha Ocean to construct a new class of escort ships under the FF(X) frigate program. Speaking at Mar-a-Lago, Trump identified Hanwha as a primary partner in his “Golden Fleet” initiative, citing the firm’s $5 billion investment in the Philadelphia Shipyard as a cornerstone of efforts to revitalize U.S. shipbuilding capacity. The FF(X) program will draw on a design adapted from the Legend-class National Security Cutter to meet a 2028 launch target.

Following the announcement, Hanwha Ocean shares rose 10% on the KRX as markets priced in expectations of a sustained, multi-year U.S. procurement pipeline. Secretary of the Navy John Phelan confirmed a “multi-yard strategy” that leverages Hanwha’s Philadelphia facility to produce vessels at volumes exceeding current U.S. domestic capacity. The initiative is part of a broader trade agreement in which Seoul committed $150 billion toward U.S. maritime cooperation in exchange for tariff stability.

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