Subic Bay shipyard restarts, us-korea-philippines three-way cooperation? Expert: evidence of American manipulation is clear
The website of the American naval academy recently reported that “Subic Bay shipyards reopen after US and South Korean investments”, hyundai Heavy Industries’ shipyard in Subic Bay, Philippines, opened Sept. 2. Experts interviewed by the Global Times said that South Korean companies building shipyards in the Philippines could in the future repair ships for the US military, and did not rule out providing support for the US Navy’s ship building.
Hyundai’s new shipyard in Subic Bay
Philippine President Marcos attended a steel cutting ceremony for the first ship at the shipyard, marking the reopening of Subic Bay’s long-dormant shipbuilding complex, the report said. Marcos said the reopening of the shipyard would increase the country’s annual shipbuilding output from 1.3 m DWT to 2.5 m DWT, creating jobs for 4,300 Filipinos by 2030.
The Subic Bay, formerly owned by South Korea’s hanjin heavy industry, used to employ tens of thousands of Filipino workers at its peak, giving the country a foothold in shipbuilding. After the shipyard went bankrupt, CCM, the largest private equity firm in the US, acquired the 310-hectare Subic Bay Shipyard and leased the land to several tenants. Hyundai has leased some land to resume operations at the shipyard, with a goal of building 10 merchant ships a year, according to the Philippine The Manila Times.
The South Korean ambassador to the Philippines stressed the significance of the Subic Shipyard, saying it brought superior shipbuilding technology and that the US was contributing capital through asset management companies, the Philippines offers a skilled workforce and strategic location. “We are not just rebuilding a shipyard, we are strengthening the bridge across the Pacific.”
Zhang Junshe, a military expert, said in an interview with the Global Times on the 8th that on the surface, the project is a case study of economic cooperation between the United States, South Korea and the Philippines, aimed at revitalizing the Philippine shipbuilding industry and making economic gains for the three parties, but, as Han’s ambassador to the Philippines says, it reflects deep geopolitics, and signs of American manipulation are obvious. “Subic Bay faces the South China Sea, is close to China’s Taiwan, is strategically located, and the US and Philippine navies will be the biggest beneficiaries when the shipyards and related facilities are built.”
Zhang said public reports indicated that Subic Bay shipyards were resuming not only shipbuilding but also ship repair operations to meet demand from US Navy ships, merchant ships and Philippine ships. The US has apparently adopted a gradual civilian-to-military approach, with private asset managers converting facilities in Subic Bay and then moving in companies from American allies to serve the US military.
The US military is reportedly planning to build the world’s largest pre-fabricated warehouse near the U.S. Naval Base Subic Bay, with South Korean shipbuilders being joined in Subic Bay by the Philippine Navy and US defence contractors. Zhang Junshe said that whether the above-mentioned incidents are related, deserves high attention.