Penguin was laid down as Chetco (AT-99) by the Charleston Shipbuilding and Dry Dock Co., Charleston, South Carolina, 9 February 1943; launched 20 July 1943; sponsored by Mrs. H. S. Dickinson; renamed and reclassified USS Penguin (ASR–12), 23 September 1943; and commissioned 29 May 1944, Lt. Comdr. G. W. Albin, Jr., in command.