Latest news with #HanwhaAerospace
Korea Herald
2 days ago
- Business
- Korea Herald
Bank stocks rally as stronger won boosts capital ratios
Shares of South Korea's largest financial service providers — Hana, Woori, KB, and Shinhan — surged Tuesday, driven by expectations of stronger shareholder returns supported by improved capital adequacy. Hana Financial Group shares rose as high as 70,700 won ($57.57) during intraday trading, marking the highest price since its transition to a holding company in December 2005. The stock later trimmed some gains and closed at 70,100 won. Woori Financial Group also saw its shares hit a record high of 18,310 won during trading, the highest since becoming a holding company in January 2019, before closing daytime trading at 18,290 won. Other major financial service providers posted strong gains in stock prices as well. On Monday, KB Financial Group shares climbed to 102,000 won, approaching its all-time high of 103,900 won recorded on Oct. 25. With this rally, the firm's market capitalization reached 40.13 trillion won, making it the fifth-largest company on the local stock market, outrunning market giants such as Hyundai Motors and Hanwha Aerospace. It was the first time in nearly 15 years for KB to take the No. 5 spot since March 2010. However, as of Tuesday afternoon, KB shares edged down slightly and wrapped up trading at 101,900 won, dropping the company to sixth place in market cap, overtaken by Hanwha Aerospace, which stood at 41.95 trillion won. Shinhan Financial Group shares also posted a strong gain, closing at 56,500 won — a steep climb from 42,500 won on April 9. The stock's previous high stands at 64,600 won logged on Aug. 30. The recent rally in bank stocks is largely attributed to the strengthening of the Korean won. The currency appreciated into the 1,360 won per dollar range this week, recovering more than 100 won from its April low of nearly 1,490 won. On Tuesday, the value of the won was quoted at 1,369.5 per dollar when the daytime trading closed. A stronger won boosts the Common Equity Tier 1 (CET1) ratio, a key indicator of banks' capital adequacy, thereby allowing financial firms greater flexibility in enhancing shareholder returns. The improved capital position comes alongside solid earnings. The four major financial groups recorded a combined net profit of 4.92 trillion won in the first quarter of 2024, the highest Q1 performance on record, surpassing the 4.91 trillion won posted in Q1 2023. According to market tracker FnGuide, the firms are projected to post a combined net profit of 17.64 trillion won this year, up 6.8 percent year-on-year. "Considering the banks' profitability, even with increased treasury share buybacks, the CET1 ratio is still expected to improve," said Choi Jeong-wook, an analyst at Hana Securities. "Share prices of global banks tend to track the scale of their treasury share repurchases."
India.com
6 days ago
- Business
- India.com
BIG trouble for Pakistan, China as Indian Army to get 100 more units of these lethal weapons in 2025, they are capable of...
K9 Vajra-T Howitzer (File) Amid the recent flare up in India-Pakistan tensions, the Indian Army is set to induct an additional 100 units of K9 Vajra-T Self-Propelled Howitzers (SPHs), which will significantly enhance the army's artillery capabilities along the borders with China and Pakistan. According to reports, private defence manufacturer Larsen & Toubro (L&T) is preparing to deliver the new batch of these deadly artillery guns by the end of 2025. Indian Army to get 100 more units of K9 Vajra-T howitzers Between 2018 and 2021, the Indian Army inducted an initial 100 K9 Vajra-T Howitzers, that have proven quite effective across varied terrains, especially in the rugged, high-altitude region of Ladakh. On December 24, 2024, a new order worth $890 million (around Rs 7,628 crore), for 100 more units was confirmed via an agreement with Hanwha Aerospace, L&T's South Korean partner, marking another major milestone in the continued push for self-reliance in defense manufacturing under Prime Minister Narendra Modi's Aatmanirbhar Bharat initiative. How powerful is the K9 Vajra-T howitzer? Adapted from the K9 Thunder, which was originally designed and developed by the Agency for Defense Development and private corporations including Dongmyeong Heavy Industries, Kia Heavy Industry, Poongsan Corporation, and Samsung Aerospace Industries for the South Korean armed forces, the K9 Vajra-T is a 155mm/52-caliber tracked self-propelled howitzer capable of engaging targets up to 40 km away. The K9 Vajra-T cannon has been specifically adapted from the K9 Thunder– now built by Hanwha Aerospace– to meet the operational requirements of the Indian Army across diverse Indian terrains, including deserts and high-altitude mountainous regions. The K9 Vajra-T howitzer fires g K307 Base Bleed High Explosive (HE) rounds, and is capable of delivering a rapid burst of three rounds within 15 seconds, making it highly lethal in a battlefield. The advanced mobile artillery platform is designed to provide crucial fire support to infantry and armoured formations during combat. K9 Vajra-T batch to have more indigenous components According to the Ministry of Defense (MoD), the new batch of K9 Vajra-T cannons will have around 60 percent of indigenously developed components, including Indian-built subsystems such as advanced fire control systems, communication equipment, and ammunition handling mechanisms. More than 50 percent of components in the first batch were indigenous, the MoD said. New K9 Vajra-T guns to have major upgrades According to repots, the new batch of K9 Vajra-T howitzer guns are likely to be augmented with some key upgrades, including the upgraded subsystems for enhanced performance. The contract also includes a Life Cycle Support Contract (LCSC), for which a Request for Proposal was issued in November last year, to ensure the long-term operational readiness and maintenance of these systems. The delivery is expected to begin towards the end of this year, and extend to through early 2028, until the Indian Army inducts a full 100 additional units of the K9 Vajra-T howitzers, which is part of its larger artillery modernization strategy to standardize its diverse gun systems to the 155mm/52-caliber specification by the year 2042.
CNA
21-05-2025
- Business
- CNA
South Korea's Hanwha Aerospace revises capital increase plan
SEOUL :South Korea's largest defence firm Hanwha Aerospace said in a regulatory filing on Wednesday it is revising a previously announced capital increase plan. The new plan is worth 2.9 trillion won ($2.09 billion), up from its previous plan of 2.3 trillion won, according to the filing. A Hanwha Aerospace spokesperson said the change reflected a rise in the share price. Hanwha Aerospace shares traded up 3.7 per cent at 845,000 won in after-hours trading on Wednesday, after closing the session up 4.3 per cent. In April, the company said it would cut the size of a planned fundraising by a third to 2.3 trillion won to ensure the success of the financing, and after investor and regulatory pushback. ($1 = 1,386.5100 won)
Reuters
21-05-2025
- Business
- Reuters
South Korea's Hanwha Aerospace revises capital increase plan
SEOUL, May 21 (Reuters) - South Korea's largest defence firm Hanwha Aerospace ( opens new tab said in a regulatory filing on Wednesday it is revising a previously announced capital increase plan. The new plan is worth 2.9 trillion won ($2.09 billion), up from its previous plan of 2.3 trillion won, according to the filing. A Hanwha Aerospace spokesperson said the change reflected a rise in the share price. Hanwha Aerospace shares traded up 3.7% at 845,000 won in after-hours trading on Wednesday, after closing the session up 4.3%. In April, the company said it would cut the size of a planned fundraising by a third to 2.3 trillion won to ensure the success of the financing, and after investor and regulatory pushback. ($1 = 1,386.5100 won)
Korea Herald
21-05-2025
- Automotive
- Korea Herald
Seoul shares gain nearly 1% on bio, heavy industry gains
South Korean stocks finished nearly 1 percent higher Wednesday to snap a two-day fall, as investors bolstered bio, heavy industry and other blue chips despite overnight losses on Wall Street. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index gained 23.78 points, or 0.91 percent, to close at 2,625.58. Trade volume was moderate at 367 million shares worth 7.34 trillion won ($5.29 billion), with gainers outnumbering decliners 537 to 334. Foreign investors and institutions led the market gains, buying a net 298.6 billion won, while individuals sold a net 330.2 billion won. Overnight, all major US stock indexes fell, taking a pause following recent Wall Street gains amid a lack of market-moving catalysts. The Dow Jones Industrial Average fell 0.27 percent, and the S&P 500 dropped 0.39 percent. The tech-heavy Nasdaq composite shed 0.38 percent. In Seoul, bio and heavy industry shares led the overall gains. Leading bio firm Samsung Biologics surged 7.11 percent to 1,100,000 won, and top defense equipment manufacturer Hanwha Aerospace jumped 4.29 percent to 850,000 won. Financial and internet-related shares also advanced. KB Financial rose 1.77 percent to 98,000 won, and top mobile messenger operator Kakao added 2.46 percent to end at 37,450 won. In contrast, semiconductor and battery shares ended in negative terrain. Market heavyweight Samsung Electronics fell 0.36 percent to 55,700 won, and top battery company LG Energy Solution slipped 0.72 percent to 277,500 won. Auto shares also lost ground, with industry leader Hyundai Motor down 0.79 percent to 188,000 won, and its auto parts affiliate Hyundai Mobis also falling 0.2 percent to 247,500 won. The local currency was trading at 1,387.2 won against the greenback at 3:30 p.m., up 5.2 won from the previous session. (Yonhap)
