President Ferdinand Marcos Jr. led the inauguration of the HD Hyundai Heavy Industries Philippines inside Subic Bay Freeport on Tuesday.

“From 2014 to 2018, our shipyards were producing 1.2 to 2 million gross tons of ships—roughly around 20 oil tankers or 30 large container ships—annually. However, starting in 2019, our output fell, we lost our momentum. Today, we raise the sails once more,” he said.

The President said that the event marks a momentous occasion, citing that the country is set to revive the shipbuilding industry that laid dormant since 2019. The event also coincided with President Marcos pushing the button for the steel cutting ceremony.

The HD Hyundai Group said that the support given by President Marcos is invaluable to the officials and employees of the company, adding that the government has opened the door for the revival of the shipbuilding operation in the Philippines.

The HD Hyundai Heavy Industries Philippines is set to expand the yard’s capacity from 1.3 million to 2.5 million deadweight tons, allowing the Philippines to handle larger vessels and create more jobs.

Subic Bay Metropolitan Authority (SBMA) officials, led by Chairman and Administrator Eduardo Jose L. Aliño, welcomed the arrival of the President, along with newly-appointed Public Works Secretary Vince Dizon.

The SBMA also welcomed the Ambassador of the Republic of Korea to the Philippines, Lee Sang-hwa; United States Ambassador to the Republic of the Philippines, MaryKay Carlson; HD Korea Shipbuilding & Offshore Engineering Ind. CEO Mr. Kim Sung-joon; and the executives and employees of HD Hyundai Heavy Industries Philippines, led by President Mr. Oh Sekwang.

Aliño said that the company is currently in need of 4,300 employees and is currently in collaboration with the Technical Education and Skills Development Authority (TESDA) in training new recruits and employing them into their workforce.

“By 2030, we look forward to this yard employing 4,300 Filipinos. That equates to thousands of families with food on the table, thousands of workers with dignity in their craft, thousands of Filipinos who see shipbuilding as a source of livelihood,” President Marcos said.

Zambales Governor Hermogenes Ebdane Jr., Castillejos Mayor Jeffrey Khonghun, and other local officials took part in the event to show support for the company’s growth. According to the local officials, the company sources most of its workforce from the residents of Zambales, mostly from Castillejos.

The President’s presence underscores the Philippine government’s strong policy support and commitment to attracting long-term, high-impact investments in key industries.

Marcos said that with Hyundai Heavy Industries investing in Subic, the Philippines’ shipyard capacity will significantly increase from 1.3 million to 2.5 million deadweight tons, from handling four to five massive oil tankers to about now eight of those ships.

“But more than size, now the ships that we built – this means that we can accommodate vessels with higher volumes, boost our export potential, and create more jobs for our Filipino workers.”