President Ferdinand Marcos Jr. on Tuesday inaugurated the HD Hyundai Shipyard in Subic, calling it a milestone in reviving the country’s shipbuilding industry and creating new opportunities for Filipino workers.
Mr. Marcos said the entry of Hyundai Heavy Industries in the Philippines would more than double the shipyard’s capacity, raising it from 1.3 million to 2.5 million deadweight tons.
The facility will be able to build up to eight massive oil tankers at a time, compared to just four or five previously.
“Today, we raise the sails once more,” the president said before Hyundai executives, foreign diplomats, and government officials.
“With Hyundai Heavy Industries investing in Subic, our shipyard capacity will significantly increase… boost our export potential, and create more jobs for our Filipino workers,” he added.
By 2030, the shipyard is expected to employ 4,300 Filipinos, President Marcos said, underscoring the economic benefits to families and communities.
He added that the project would help reclaim the country’s place among the world’s leading shipbuilders.
The chief executive also highlighted the Philippines’ role in the global maritime workforce, noting that 30 percent of the world’s seafarers are Filipinos.
He said it was only fitting that the nation should also contribute vessels to the world’s fleet.
To ensure a skilled workforce, Mr. Marcos pointed to a partnership between Hyundai and the Technical Education and Skills Development Authority (TESDA).
Since November 2024, the collaboration has produced welders for the Subic yard, with more training programs now available in marine electricity, welding, and other shipyard disciplines.
“All these efforts show our commitment to reviving the industry to ensure that it will thrive in the generations to come,” he said.
The Subic facility marks Hyundai’s expansion into the Philippines after years of decline in the local shipbuilding sector. From 2014 to 2018, Philippine shipyards produced as much as 2 million gross tons of vessels annually, but output fell after 2019.
“Together, let us show the world that Filipinos have the skills and the vision to navigate the uncertain waters of an ever-changing world,” President Marcos said.
