PH revives shipbuilding industry via Hyundai-led Subic relaunch

Metro Manila, Philippines - The country is reviving its shipbuilding industry as President Ferdinand Marcos Jr. on Tuesday, Sept. 2, inaugurated a Korean shipbuilding facility in Subic, Zambales.

“Today, we will begin reclaiming our rightful place among the world’s great shipbuilding nations,” Marcos said at the Hyundai Heavy Industries event.

“Together with our partners, we are reviving shipbuilding in the country to strengthen industries, promote livelihood, and build a better, stronger future for the Philippines,” he added.

The Philippines rose to prominence in global shipbuilding during the 2000s, when Subic Bay and Cebu emerged as major production hubs. Between 2014 and 2018, the country ranked among the top five shipbuilding nations worldwide, producing up to two million gross tons of vessels annually.

That momentum slowed in 2019 when foreign investors, including a Korean shipbuilding giant, pulled out of Subic operations amid financial strain. Thousands of Filipino workers lost their jobs, and the industry’s global ranking declined.

Hyundai Heavy Industries’ investment is expected to expand the Subic facility’s capacity from 1.3 million to 2.5 million deadweight tons, enabling it to build up to eight large oil tankers annually.

Marcos said the relaunch is backed by government skills training programs in 16 technical fields, from marine electricity to advanced welding, designed to match international standards.

“Together, let us show the world that Filipinos have the skills and the vision to navigate the uncertain waters of an ever-changing world,” Marcos said.

HD Hyundai’s 10-year lease covers 200 hectares of Agila Subic land, with operations to begin in January 2026. The yard will focus on shipbuilding and offshore wind platform construction.