Marcos leads launch of Hyundai Shipyard in Subic Freeport
Marcos Launches Hyundai Shipyard in Subic Bay
SUBIC BAY FREEPORT — President Ferdinand Marcos Jr. inaugurated HD Hyundai Heavy Industries Philippines, Inc. on September 2, 2025, marking a significant milestone in the revival of the Philippines’ shipbuilding sector. The event featured a steel-cutting ceremony for the company’s first vessel, signaling the commencement of full-scale operations at the facility.
Revitalizing the Shipbuilding Industry
HD Hyundai, a leading South Korean conglomerate and one of the largest shipbuilders globally, has established itself as a key player at the Agila Subic Shipyard, which spans 310 hectares. This site was previously operated by Hanjin, which declared bankruptcy in 2019. Currently, HD Hyundai occupies 100 hectares of the shipyard for shipbuilding, repair, and offshore wind platform construction.
According to Ralph David Magno, the Human Resource Manager at Hyundai, the company aims to produce up to 10 ships annually. Preparations for full operations began with hiring efforts that started in September 2024, with a goal of creating approximately 7,000 jobs by January 2026. This initiative is expected to significantly contribute to local employment and economic growth.
The Agila Subic Shipyard was acquired in 2022 by Cerberus Capital Management, a New York-based private equity firm, which invested $40 million to restart operations and rebranded the facility. Following President Marcos’ visit to the United States in July, the Philippine government announced an additional investment of $250 million aimed at enhancing shipyard infrastructure and related projects.
Government Support for Foreign Investment
President Marcos’ attendance at the launch underscores the Philippine government’s commitment to fostering foreign investment and revitalizing local industries. This initiative aligns with the administration’s broader economic strategy to attract international partners and stimulate growth in key sectors.
As HD Hyundai embarks on this new venture, the collaboration between the South Korean conglomerate and the Philippine government is poised to play a crucial role in the future of the country’s shipbuilding industry. The launch not only represents a new chapter for the Agila Subic Shipyard but also highlights the potential for economic revitalization in the region.
