United States President Donald Trump said the U.S. Navy’s new frigates will be built in cooperation with South Korean company Hanwha.

Speaking at a press conference at his Mar‑a‑Lago resort in Florida on Monday, Trump said the U.S. Navy had announced plans last week for a new class of frigates and noted that they would be developed in partnership with Hanwha.

His remarks have drawn attention to whether the Seoul government’s shipbuilding cooperation initiative with Washington, known as the “Make American Shipbuilding Great Again” project, will gain momentum next year.

Calling Hanwha a "very good company," Trump said it had agreed to invest five billion U.S. dollars in the Philadelphia Naval Shipyard.

He added that the shipyard had once been a great facility that closed long ago but has since reopened and is now working with the U.S. Navy and private companies.

The Philadelphia shipyard Trump referenced is believed to be Philly Shipyard, which Hanwha acquired.