Hanwha’s US LNG gambit: Why Korea’s shipping giant just bet big on America
South Korean conglomerate launches US trading arm to control global LNG procurement and shipping operations ahead of.
South Korean conglomerate Hanwha has established a new U.S.-based company to consolidate its global liquefied natural gas operations. The entity, named Hanwha Horizon USA, was announced today by Hanwha Aerospace and will integrate procurement, trading, and logistics under a single structure.
The venture will be led by James Sagar, who also serves as CEO of Hanwha Shipping, reflecting the company’s emphasis on maritime capabilities. Initially, Hanwha Horizon USA will focus on securing LNG supplies for Hanwha Energy’s Yeosu power plant in South Korea, which is set to begin commercial operations in 2029.
Beyond serving internal demand, the company plans to expand its trading activities, supplying LNG to other utilities and energy firms across Asia and additional international markets. Hanwha has already taken steps to strengthen its supply chain, including a purchase agreement with U.S. producer Venture Global and a partnership with Korea Southern Power to diversify South Korea’s LNG imports.
Integration across the LNG value chain: lng procurement
Hanwha’s strategy involves vertical integration, combining its shipping and shipbuilding divisions to support the new trading arm. Hanwha Ocean ranks among the world’s top builders of LNG carriers, while Hanwha Shipping is actively expanding its own fleet. Last year, the company placed an order for an LNG carrier at its Philadelphia shipyard—the first U.S. order for an export-market vessel of its kind since the late 1970s.
The program has since grown, with additional orders for LNG carriers and MR tankers, produced through a joint construction model involving Hanwha Ocean and its U.S. yard. Sagar described the launch of Hanwha Horizon USA as a pivotal development for the group’s LNG ambitions.
“The launch of Hanwha Horizon USA is a turning point that connects our global LNG procurement capabilities with our shipbuilding and maritime businesses.”
James Sagar·CEO, Hanwha Shipping
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