Latest news with #HanwhaSystems
Korea Herald
2 days ago
- Business
- Korea Herald
Hanwha Systems wins W54.7b contract to develop radar for next-gen missile defense system
Hanwha Systems Co. said Tuesday it has been selected as the developer of a multifunction radar prototype for South Korea's next-generation long-range surface-to-air missile defense system. The company said it has won a 54.7 billion-won ($40 million) contract from the state-run Agency for Defense Development to develop a MFR prototype as part of the second phase of the L-SAM system upgrade. A MFR is responsible for real-time detection, tracking of multiple incoming targets and missile guidance. The prototype will be equipped with high-precision functionalities to extend the detection and tracking range for ballistic missile threats, surpassing those of the current L-SAM system. Hanwha Systems previously developed and supplied MFRs for the Cheongung and Cheongung-II systems. It is also the radar systems provider for the next-generation Korean destroyer KDDX and the homegrown KF-21 fighter jet. "We are committed to developing world-class, high-performance radar solutions to help the Korean military respond effectively to evolving aerial threats," said Park Hyuk, head of Hanwha Systems' defense electronics division. (Yonhap)
Korea Herald
02-05-2025
- Business
- Korea Herald
Hanwha Group expands defense footprint into Latin America
Hanwha Group's three major defense affiliates -- Hanwha Aerospace, Hanwha Systems and Hanwha Ocean -- are stepping up efforts to expand into the Latin American defense market, using Chile as a strategic gateway. On Monday, the three companies participated in 'Korea Defense Day 2025' held in Santiago, Chile, where they showcased key defense solutions tailored for the region. Jointly organized by KOTRA and the Embassy of the Republic of Korea in Chile, the exhibition aimed to support Korean defense firms in exploring global markets. High-level representatives from the Chilean Ministry of Defense, Army, Navy, Air Force and police attended the event. Aiming to participate in the Chilean Army's Cromo Project to modernize its armored vehicle fleet, Hanwha Aerospace presented its self-developed 'Tigon' wheeled armored vehicle. With wheeled armored vehicles available in various configurations -- including the 8x8, 6x6 and 4x4 -- the firm expects to meet both the military and public security needs of Chile. Chilean officials also showed interest in the K9 Self-Propelled Howitzers, K10 Ammunition Resupply Vehicles and Chunmoo, a multiple launch rocket system. Hanwha Systems showcased small Synthetic Aperture Radar, or SAR, satellites and analysis tools, seeking opportunities to collaborate on Chile's national space program, SNSAT. Hanwha Ocean introduced export models of its KSS-III class submarines and advanced next-generation frigates, signaling its intent to participate in Chile's naval modernization programs. 'By establishing a strategic presence in Chile, we aim to become a total defense solution provider for Latin America," said a Hanwha Group official.
Korea Herald
30-04-2025
- Business
- Korea Herald
Hanwha Ocean bids for Poland's Orka submarine program
South Korean shipbuilding giant Hanwha Ocean announced Wednesday that it is making a strong push to win Poland's Orka submarine project, a key naval modernization program worth approximately 8 trillion won ($5.6 billion). Hanwha Ocean will participate in the Defense24 Days conference in Warsaw, Poland from May 6 to 7, alongside affiliates Hanwha Aerospace in Europe and Hanwha Systems, to showcase its competitive edge. At the center of Hanwha Ocean's proposal is the delivery of three next-generation 3,600-ton KSS-III Batch-II submarines, designed for over 30 years of operational use. The company emphasized its technical superiority and reliable track record in submarine production while proposing comprehensive technology transfer and localization plans aimed at supporting the growth of Poland's shipbuilding and defense industries. Hanwha Ocean has pledged up to $100 million in additional investment to establish a local maintenance, repair, and overhaul support center, enabling long-term operational independence for the Polish Navy. The company has also partnered with local shipyards, including Remontowa and Nauta, to detail its localization strategy. Through its 'Team Korea' initiative, Hanwha Ocean aims to collaborate with over 200 South Korean small and medium-sized partners to bring highly localized and export-ready submarine technology to global markets. The KSS-III submarine, already 80 percent localized, is positioned as a leading contender in the Orka program. The Casimir Pulaski Foundation, a prominent Polish think tank, recently praised Hanwha's proposal as the most advanced among competitors, citing low technical risk and strong delivery capability. "By putting forward the KSS-III Batch-II submarine, known for its world-class capabilities, we aim to achieve exports to Poland and set a benchmark in pioneering the global market for K-defense naval systems," said a Hanwha Ocean official.
New York Times
29-04-2025
- Business
- New York Times
U.S. Gas Industry Pushes Back on Trump Shipbuilding Rules
Another rift has opened between the U.S. oil and gas industry and President Trump, this time over new rules designed to encourage domestic shipbuilding and undermine China's maritime power. This month, the Trump administration issued rules that require at least 1 percent of the natural gas shipped overseas to be carried on U.S.-built tankers in 2029. The United States is the top global exporter of liquefied natural gas — gas that has been chilled until it becomes a liquid so that it can be transported in large quantities. But it does not build any of the specialized ships that are used to send that fuel abroad. In a letter to the administration last week, the American Petroleum Institute, the U.S. oil and gas industry's main trade association, said the industry could not comply with that rule and urged officials to reconsider it. The requirement 'risks counteracting the significant progress the Trump administration has made toward reducing uncertainty and unleashing U.S. L.N.G.,' the trade group said in the letter, which was addressed to Chris Wright, the energy secretary, and Doug Burgum, the interior secretary. The maritime rules are the latest source of tension between oil and gas executives — many of whom contributed to Mr. Trump's campaign — and the administration. The industry is aligned with Mr. Trump on an array of key priorities, including exporting more L.N.G. But when it comes to trade, oil and gas companies generally favor more open arrangements, in contrast to Mr. Trump's protectionist agenda. His policies have also weakened economic confidence, causing oil prices to fall. Many companies that produce natural gas are also in the oil business. Oil now sells for about $62 a barrel in the United States, compared with $78 just before Mr. Trump took office. Natural gas prices have also fallen, but remain well above what they were a year ago. Sean Duffy, the transportation secretary, suggested on Monday that there was room to further negotiate the shipping rules. 'We should hear what oil and gas has as their concerns, listen to them, but find a pathway forward where we can build ships in America to send great American energy around the world,' Mr. Duffy said during a visit to the Hanwha Philly Shipyard in Philadelphia when asked about the industry's concerns. Hanwha Systems, a South Korean defense technology company, and Hanwha Ocean, a South Korean shipbuilder, bought the Philadelphia shipyard last year and plan to modernize it. Hanwha Ocean has delivered 200 L.N.G. carriers from its shipyards in South Korea. Such vessels are primarily built in that country, Japan and China. J. Elizabeth Peace, an Interior Department spokeswoman, declined to comment on the trade group's letter, which was reported earlier by The Financial Times. The American Petroleum Institute praised other actions by the Trump administration, including those aimed at enabling more L.N.G. to be exported. 'On balance, we have made significant progress toward ensuring that we have long-term American energy dominance going forward,' Amanda Eversole, the group's chief advocacy officer, said on Monday. In addition to requiring the use of U.S.-built L.N.G. ships, the new rules impose fees on Chinese-owned and Chinese-built vessels. The rules originated from a petition requesting a federal investigation into Chinese shipbuilding filed during the Biden administration by labor unions. Shortly before Mr. Trump took office, the Biden administration said its investigation had found that China had used unfair trade practices like subsidies to become dominant in shipbuilding. The Office of the United States Trade Representative, the agency behind the new rules, softened an earlier proposal after pushback from many industries and trade groups, including the American Petroleum Institute. But the energy group said the latest version of the rules — which require that 1 percent of L.N.G. exports be carried on U.S.-built vessels in 2029, rising to 15 percent in 2047 — was still too demanding. The industry association estimated that five U.S.-built L.N.G. tankers would be needed in 2029 and said building them was 'not feasible,' citing a lack of shipyard capacity and skilled workers, among other concerns. But the rules appear to include a way for companies to delay the use of U.S.-built L.N.G. transporters for three years if they have ordered and taken delivery of a U.S.-built vessel in that time.
Korea Herald
19-02-2025
- Business
- Korea Herald
'Egypt gateway for Korean defense exports, trade to Middle East, Africa'
Egyptian ambassador stresses deeper mutual benefits of defense, infrastructure and industrial cooperation between Seoul, Cairo Egypt's strategic location and growing defense industry position it as a key partner for South Korea to expand its military exports into the Middle East and Africa, according to Egyptian Ambassador to Korea Khaled Abdel Rahman. In an interview with The Korea Herald ahead of the 30th anniversary of Egypt-Korea diplomatic ties, Rahman emphasized the mutual benefits of deeper defense cooperation. Egypt and South Korea established diplomatic ties on April 13, 1995, with embassies in Cairo and Seoul. Egypt views South Korea's rapid post-war development — fueled by International Monetary Fund and World Bank support and leveraging low-cost labor for exports — as an economic model for its own growth, often referred to as the "Miracle on the Han River." In 2022, South Korea designated Egypt as an official development assistance priority partner to strengthen the African country's industry and secure major manufacturing contracts. Egypt is rapidly expanding its military capabilities and tightening control over strategic sectors. According to the Stockholm International Peace Research Institute, between 2015 and 2019, the country was the third-largest global importer of weapons, sourcing from Germany, Russia, France and China. The Global Defense Market Yearbook 2022 also ranked Egypt third in global arms imports from 2017 to 2021, with a 5.7 percent market share. 'Egypt's decision to procure K9A1 howitzers and K11 vehicles reflects the high level of trust we place in South Korea's defense capabilities,' according to Rahman, referring to a 2022 contract with South Korean company Hanwha Systems. Hanwha Systems exported two core systems — the fire command system for the K11 Fire Command Armored Vehicle and the fire control system for the K9A1 self-propelled howitzer — to Egypt. The deal was reportedly worth 2 trillion won ($1.39 billion). The move shows Cairo's confidence in South Korea's defense capabilities and opens avenues for deeper military cooperation, he said. 'With growing security challenges in the Middle East and Africa, demand for cost-effective and technologically advanced defense systems is increasing,' according to Rahman. South Korean expertise meets Egypt's evolving military needs, he stressed. Two memorandums of understanding were signed for defense industry cooperation and logistics support, alongside agreements on joint research and development and military expertise exchange, according to Rahman. He said that although Egypt is set to expand defense manufacturing through local production and technology transfer, fostering self-reliance, Egypt-Korea bilateral trade hit approximately $3 billion in recent years, with infrastructure, renewable energy, electronics, manufacturing and automobiles as key sectors. Korea is supporting Egypt's El-Dabaa nuclear power plant, with Korea Hydro & Nuclear Power building turbines in partnership with Egypt's Petrojet, while a Korean shipbuilding company is constructing a shipyard near the Suez Canal to boost maritime infrastructure. In 2022, KHNP signed an agreement with Rosatom's Atomstroyexport (ASE) to build 82 facilities, including turbine buildings, water treatment and air conditioning systems, for Egypt's first nuclear power plant in El Dabaa. The $30 billion project, commissioned by Egypt's Nuclear Power Plants Authority, will include four reactors with a combined capacity of 1,200 megawatts, constructed by ASE. Construction is expected to be completed by 2030 and the first reactor is set to begin commercial operations in 2028. 'South Korea's cumulative investments in Egypt stand at nearly $800 million, reflecting growing economic ties,' he said. South Korean tech giant Samsung Electronics has invested $700 million in Egypt to establish a manufacturing facility, marking its first production plant in the Middle East and Africa. Located in the Beni Suef industrial complex, the new factory is set to position Egypt as a regional export hub, supplying products to 55 countries across the Middle East, Europe and Africa. Rahman noted that 85 percent of the factory's TV screens are exported to over 55 countries. Since 2015, Samsung has led engineering exports. The factory is expected to create 5,000 jobs in Upper Egypt, Rahman told The Korea Herald citing Egyptian media reports. Upper Egypt refers to the southern Nile region, characterized by a desert climate with red, sandy soil. The ancient Egyptians called the region as Deshret, meaning Red Land, due to its proximity to the Sahara Desert. Beyond these ongoing projects, Rahman sees immense untapped potential in Egypt as a strategic trade gateway to Africa and the Middle East. Experts suggest Egypt can serve as a gateway to Middle Eastern and North African markets, with Korean companies leveraging the African Continental Free Trade Agreement, or AfCFTA. The agreement covers the largest free trade area in the world, encompassing 54 of the African Union's 55 countries, representing 1.3 billion people and a combined gross domestic product of $3.4 trillion. 'We encourage even greater involvement, particularly in technology, logistics and industrial automation,' he said, adding that Egypt's Vision 2030, an ambitious national development blueprint, aligns with South Korea's expertise in smart infrastructure, digital governance and industrial innovation. The envoy also pointed out that collaboration with South Korea in renewable energy, artificial intelligence and vocational training is critical for Egypt's future workforce. 'South Korea's rapid technological and industrial advancement serves as an excellent model for Egypt's economic transformation and Korea's expertise positions Egypt as a regional hub for innovation and advanced industries.
