Hanwha Aerospace Co. has named Michael Coulter, who has led the South Korean defense giant’s global expansion since late last year, as new president and chief executive of its US operations – a role expected to anchor the company’s growing defense and shipbuilding partnerships with Washington.
The appointment, announced Monday, places Coulter at the helm of Hanwha Defense USA (HDUSA), the US arm of Hanwha Aerospace. The subsidiary provides advanced defense systems and shipbuilding technologies to the US armed forces and industrial partners.
In his new role, Coulter will lead Hanwha’s US projects under its partnership with Washington in both the shipbuilding and defense sectors.
Coulter, who joined Hanwha Aerospace in December last year, has served as president and CEO of the company’s global defense operations, overseeing Hanwha Aerospace, Hanwha Systems Co. and Hanwha Ocean Co.
His new role underscores Hanwha’s intent to strengthen partnerships with Washington and expand its role in US shipbuilding and defense programs, industry experts said.
VETERAN OF DEFENSE AND GOVERNMENT
Before joining Hanwha, Coulter was a senior executive at Leonardo DRS, the US-based subsidiary of Italy’s Leonardo.
He has brought more than three decades of experience in national security and defense, including leadership positions in the US Department of Defense, State Department and the US Senate.
Coulter was the first non-Korean executive to oversee a defense business at a major South Korean conglomerate.
He will continue to serve on Hanwha Aerospace’s board, guiding the company’s global strategy and coordination with its international leadership teams, the company said.
Mike Smith, who has led HDUSA as president and CEO, will take on the role of chief operating officer and president of the US unit’s Land Systems division.
Hanwha said the move would “ensure continuity” and capitalize on Smith’s operational track record alongside Coulter.
HANWHA’S DEEPER PENETRATION IN THE US
Hanwha’s leadership shake-up comes as the Korean conglomerate seeks to expand its industrial and defense presence in the US.
It is positioning itself as a key partner in efforts to revitalize the US shipbuilding industry, while bolstering the defense industrial base amid rising geopolitical tensions.
At the center of this strategy is Hanwha Philly Shipyard Inc., a facility in Philadelphia operated by Hanwha Ocean.
The shipyard is expected to anchor a Korea-backed initiative dubbed “Make American Shipbuilding Great Again” (MASGA), a project aimed at modernizing US shipyards through automation and artificial intelligence.
Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering, was selected to lead the program given its extensive experience building submarines and its existing US infrastructure.
The company has delivered 17 of the 23 submarines commissioned by the South Korean Navy and has exported vessels to Indonesia.
A BOOST FOR US-KOREA DEFENSE COOPERATION
The Philadelphia shipyard is also poised to play a central role in South Korea’s plan to build nuclear-powered submarines, following authorization last week from US President Donald Trump.
The decision, made after South Korea’s President Lee Jae Myung’s summit with Trump in Gyeongju, South Korea, is expected to pave the way for deeper defense cooperation between Seoul and Washington.
President Lee argued that Korean nuclear-powered submarines would reduce operational burdens on the US Navy amid persistent threats from North Korea.
Hanwha Ocean welcomed the move, saying it “fully supports the historic decision made by Presidents Lee and Trump” and stands “ready to contribute with cutting-edge shipbuilding technologies.”
Construction of the submarines will fall under South Korean control but will depend on revisions to the countries’ bilateral nuclear cooperation agreement, which restricts access to enriched uranium fuel used in propulsion systems.
Hanwha’s 330-meter Philadelphia yard – equipped with two dry docks – can build nearly all classes of US Navy surface ships except aircraft carriers.
The site is expected to serve as a hub for future projects integrating Korea’s commercial shipbuilding expertise with defense-grade technology, potentially creating a new export niche.
On Monday, Hanwha Aerospace also reported that its third-quarter operating profit surged 79.5% from a year earlier to 856.4 billion won ($599.6 million), while revenue more than doubled to 6.49 trillion won.
The defense division logged sales of 2.10 trillion won, up 27%, with operating profit rising 30% to 502.6 billion won.
Hanwha Ocean, its shipbuilding affiliate, also saw sales climb 11.8% to 3.02 trillion won and operating profit soar more than tenfold to 289.8 billion won, buoyed by higher sales of liquefied natural gas (LNG) carriers and other high-value vessels.
