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