Latest news with #MichaelCoulter
Korea Herald
25-06-2025
- Business
- Korea Herald
Hanwha Aerospace expands K9 footprint amid rising global demand
Hanwha Aerospace, South Korea's largest defense contractor, is ramping up efforts to penetrate new global markets, placing its flagship K9 self-propelled howitzer at the center of its expansion strategy, the company said Wednesday. The company is actively seeking to expand its presence in Canada and Latin America by deepening engagement with local defense industries. In May, Hanwha Aerospace and its subsidiary Hanwha Ocean showcased their land and maritime defense systems to Canadian defense officials at CANSEC 2025, Canada's largest defense trade show, where Hanwha was the sole Korean participant. 'Hanwha is deeply committed to Canada's defense, offering our unique proposition of globally leading technology, value and sovereign capacity with local production and support,' said Michael Coulter, CEO of Hanwha Global Defence, during the event. A month earlier, the company participated in the Korea Defense Day exhibition in Santiago, Chile, drawing interest from local defense officials with its advanced ground weapon systems. Leading its portfolio is the K9 self-propelled howitzer, a key pillar in Hanwha's global expansion. More than 1,800 units are currently in service across a wide range of environments — from arid deserts to arctic terrain. The K9 is operated by 10 countries, including six NATO members — Estonia, Finland, Norway, Poland, Romania and Turkey — as well as Australia, Egypt, India and South Korea. With geopolitical dynamics shifting rapidly, Hanwha said demand from both existing and potential customers continues to grow. The company credits the K9's proven performance across diverse conditions and seamless integration with existing defense systems as key drivers of interest in new markets. Its reputation for timely delivery and competitive pricing also enhances its appeal. According to Hanwha, the core strength of the K9 lies in its agility — both in firepower and mobility. It can fire up to eight rounds per minute with consistent accuracy at ranges of up to 40 kilometers and quickly relocate after firing to reduce the risk of counterattack. The wheeled variant offers even greater mobility than the tracked version, enabling rapid movement across vast and varied terrain, features well-suited for countries like Canada and Chile. This model boasts a top speed of 100 km per hour, an operational range of up to 700 km on a single fuel charge, and a maximum firing range exceeding 54 km, all while maintaining a firing rate of up to eight rounds per minute. Tailored to meet the strategic requirements and defense frameworks of individual countries, the K9 system's adoption by NATO members underscores its compatibility with NATO-standard ammunition and operational doctrines, allowing for seamless integration with allied forces. Hanwha said these capabilities support its bid for Canada's anticipated 6 billion Canadian dollar ($4.37 billion) artillery modernization project, where the country's vast geography, rugged terrain and NATO obligations make the K9 a suitable choice. Hanwha is also building global trust through its track record of fast, high-quality delivery and strong commitment to technology transfer and local production. The company delivered 24 K9 howitzers to Poland in October 2022, just two months after signing a contract to supply 212 units by 2026. Of the 70 scheduled for delivery in 2025, 20 were completed in the first quarter, according to securities firms. 'Hanwha Aerospace surprised the Polish military with exceptionally fast delivery times — a crucial factor for nations facing urgent security needs,' a company official said. In an industry often beset by delays and technology transfer concerns, Hanwha stands out with its ability to deliver quickly while offering local production and shared technology. K9 manufacturing is already underway in Australia, with preparations progressing in Romania, reinforcing Hanwha's appeal in markets prioritizing both capability and sovereignty. 'Today's global environment demands not only delivering the best technology at the right speed and price, but also ensuring sovereign capabilities within each defense market,' CEO Coulter said.
Korea Herald
10-06-2025
- Business
- Korea Herald
Hanwha wins US approval to acquire full stake in Austal
Hanwha Group said Tuesday it has received approval from the US government to acquire up to 100 percent of shares in Austal Limited, a global maritime defense company headquartered in Australia. The clearance was granted on Friday by the Committee on Foreign Investment in the United States, the US agency responsible for reviewing the national security implications of foreign investments. Although Hanwha initially sought to increase its stake in Austal from 9.9 percent to 19.9 percent, the US government authorized the group to acquire up to full ownership. CFIUS stated there were "no unresolved national security concerns" regarding the proposed investment. Hanwha's acquisition aligns with its broader plan to integrate its advanced shipbuilding technologies and defense capabilities with Austal's global operations. 'This approval marks an important milestone that reflects the trust and support we've earned from the US government,' said Michael Coulter, CEO of Hanwha Global Defense. 'It recognizes our technological capabilities and performance in collaboration with the US and its allies. By combining Korean shipbuilding expertise with the US defense industry, we aim to strengthen the competitiveness of American shipbuilding.' The company is also awaiting regulatory approval from Australia's Foreign Investment Review Board to increase its stake in Austal. If successful, Hanwha aims to expand joint projects in both the US and Australian defense markets while contributing to the long-term competitiveness of the global shipbuilding industry.
Korea Herald
30-05-2025
- Business
- Korea Herald
Hanwha teams up with Canadian industry to advance submarine project bid
Korean shipbuilder Hanwha Ocean said Friday it has partnered with leading Canadian security and defense firms to strengthen its bid for a Canadian submarine project with an estimated value of up to 60 billion Canadian dollars ($43.4 billion). Alongside its parent company, Hanwha Aerospace, Hanwha Ocean signed agreements with cybersecurity provider BlackBerry and marine defense systems developer L3Harris MAPPS during Canada's Global Defence & Security Trade Show, known as CANSEC 2025. The two-day event, Canada's largest defense industry gathering, began Wednesday and featured Hanwha as the only participating Korean defense company. The agreements were signed in the presence of Michael Coulter, CEO of Hanwha Global Defense, who oversees global operations for Hanwha Aerospace and Hanwha Ocean, along with Phil Kurtz, chief legal officer of BlackBerry, and Rich Foster, vice president of L3Harris Technologies Canada. 'We see significant opportunities for synergies between Hanwha Ocean and these Canadian partners -- BlackBerry and L3Harris,' said CEO Coulter. 'With the signing of these MOUs, Hanwha can begin developing strategic relationships with these partners, which will also enhance and strengthen the relationship between Canada and South Korea.' Hanwha expects the partnerships will tighten its alignment with Canadian industry and provide an opportunity to leverage its partners' long-standing experience with the Canadian Navy, in particular giving new momentum to its bid for Canada's submarine procurement plan, which includes up to 12 vessels. Hanwha Ocean, with extensive submarine manufacturing experience, is collaborating with another Korean shipbuilding giant, HD Hyundai Heavy Industries, to propose advanced KSS-III-class submarines, designed and built using domestic Korean technology.
Yahoo
28-05-2025
- Business
- Yahoo
Canadian Army looks to spend more than $6 billion on new howitzers and rockets
The Canadian Army is looking at spending more than $6 billion for new self-propelled howitzers and ground-based long-range rockets, according to briefings provided to defence industry representatives. The Indirect Fires Modernization program, expected to cost more than $5 billion, will see the acquisition of self-propelled 155-mm artillery, ammunition as well as new mortar systems, according to a Canadian Army briefing for industry presented April 8 in Ottawa. Information about such equipment was requested from industry, which had until April 2 to provide details about their systems, according to a request-for-information document issued by the Canadian government. The program would include fire control software and investments in new infrastructure at military bases, including Garrison Petawawa, the request noted. A project funding proposal is currently being prepared for the Liberal government, according to the April 8 army briefing. The second program is for a new land-based long-range missile system. The initial cost estimate for that is more than $1 billion but the price tag could be higher depending on how many rockets are ordered. The Ottawa Citizen reported in March that Canada's military leadership was pushing for a sole source deal for the U.S.-built High Mobility Artillery Rocket System or HIMARS. The plan that had been proposed by the Canadian Forces senior leadership would see the purchase of a number of HIMARS built by Lockheed Martin. But that acquisition has been questioned by some in the defence industry, especially considering the economic and sovereignty threats made against Canada by U.S. President Donald Trump. Another problem is that orders of U.S. HIMARS are significantly backlogged and it is unclear whether Canada could get any quick delivery of such systems. A total of 26 launchers are needed, according to the April 8 Canadian Army briefing to industry. South Korean defence giant Hanwha is currently pitching Canada on both the high mobility artillery rocket systems and the self-propelled artillery program. The company has hot production lines which are currently building the equipment for a number of nations. It has delivered its K9 self-propelled howitzer to 10 countries so far, including six NATO members. In addition, Polish soldiers are currently undergoing training on the Chunmoo high mobility rocket systems which were purchased to counter Russian aggression. The focus for Hanwha is not only on partnering with Canadian firms but delivering high technology quickly, Michael Coulter, CEO of Hanwha Global Defence, said in an interview Tuesday. Technology transfer allows Canada to make sure it has sovereign control over its military equipment, a particular area of concern for a number of nations considering some of the issues that have emerged with U.S. equipment. 'We can delivery very quickly on time to make a difference for the military and the politicians for sovereign capabilities,' Coulter said. The K9 self-propelled howitzers and the accompanying K10 ammunition resupply vehicles can be delivered in 12 months once a contract is signed. Chunmoo systems would arrive within 24 months. In addition, the systems are interoperable with U.S. equipment. Coulter noted the U.S. military has expressed an interest in seeing the K9 tested for its forces. Coulter said Hanwha already has 10 agreements in place to work with Canadian companies and more such arrangements are expected to be announced at the CANSEC military trade show which takes place in Ottawa on May 28 and 29. The Liberal government has also stated it will purchase up to 12 new submarines for the Royal Canadian Navy. Hanwha is offering its KSS-III submarine for that program. If the contract was signed in 2026 the first submarine could be delivered by 2032, according to company officials. The South Korean submarines, three of which are already built, can operate underwater for more than three weeks, without having to surface. In addition, the boats have a range of more than 7,000 nautical miles. Both capabilities would make them valuable for Arctic operations, company officials say. Maintenance facilities would be established in Canada, and unlike with U.S. weapon systems, the South Koreans would provide Canada with total access to the onboard technology. South Korea developed its own robust defence industry after being hit by rising prices and unreasonable demands linked to U.S.-produced equipment. David Pugliese is an award-winning journalist covering Canadian Forces and military issues in Canada. To support his work, including exclusive content for subscribers only, sign up here: Canadian Forces pushing for sole source deal for U.S. weapons as Trump continues attacks on Canada South Korea wants to sell submarines to Canada as relations sour with U.S.
Korea Herald
23-05-2025
- Business
- Korea Herald
Hanwha to showcase submarine, artillery systems at CANSEC 2025 in Canada
South Korea's Hanwha Group said Friday it will participate in CANSEC 2025, Canada's largest defense trade show, to showcase a comprehensive suite of advanced defense solutions aimed at strengthening Canada's sovereign capabilities. At the two-day exhibition to open in Ottawa on Wednesday, Hanwha plans to showcase its cutting-edge land and maritime systems, including the KSS-III submarine and the K9 self-propelled howitzer, as part of efforts to support Canada's defense modernization initiatives. As part of its bid for the Canadian Patrol Submarine Project, Hanwha Ocean has proposed the KSS-III submarine, equipped with both lithium-ion batteries and an air-independent propulsion system. The KSS-III can remain submerged for over three weeks and has an estimated range exceeding 7,000 nautical miles. If the contract is awarded in 2026, Hanwha aims to deliver the first batch of submarines by 2032 and the remainder by 2035. The company also plans to establish a local In-Service Support center in Canada, providing long-term maintenance and upgrades. Hanwha Aerospace will also highlight its K9 155-millimeter self-propelled howitzer, currently in service in 10 countries. The system, which offers a 40-kilometer range and a maximum firing rate of eight rounds per minute, is being proposed for Canada's Indirect Fires Modernization program. "Hanwha is deeply committed to Canada's defense, offering global-leading technology with local production and support," said Michael Coulter, chief executive officer of Hanwha Global Defence. "Our 'Made with Canada, For Canada' approach is designed to generate jobs, enhance defense readiness and reinforce long-term strategic cooperation between the two countries." (Yonhap)
