Latest news with #SonJae-il
Korea Herald
03-04-2025
- Business
- Korea Herald
Hanwha to supply more K9 howitzers to India in W370b deal
Deal looks to increase India's local production of Korean-designed artillery weapons system to 60% Hanwha Aerospace Co. has secured a 370 billion won ($253 million) contract to deliver 100 additional units of the K9 self-propelled howitzer to India, the Korean defense firm said Thursday. According to Hanwha, the company will supply components for the K9 howitzer to Larsen & Toubro, an Indian multinational industrial and manufacturing conglomerate, to produce the locally modified version of the land weapons system named the K9 Vajra-T self-propelled howitzer. The arms deal followed the successful delivery of an initial 100 units ordered in 2017, with delivery completed in 2020. Under a licensing agreement then, Larsen & Toubro assembled the final products in India with about 50 percent of the production materials sourced locally. The new contract aims to increase the figure to 60 percent, according to Hanwha Aerospace. Hanwha Aerospace noted that the K9 Vajra-T has proven its exceptional capabilities across India's challenging terrain with its advanced 155-millimeter, 52-caliber gun system, adding that the artillery weapon can fire accurately at long ranges while maintaining a high rate of fire in both burst and sustained modes. "This follow-up order reflects the deepening defense partnership between Korea and India," said Son Jae-il, CEO of Hanwha Aerospace. "We will continue to be a trusted, reliable partner for India's defense capabilities in the years ahead, supporting India's vision for defense manufacturing self-reliance."
Korea Herald
20-03-2025
- Business
- Korea Herald
Hanwha Aerospace to raise W3.6tr for global expansion
Korean defense giant seeks more overseas footholds in defense, shipbuilding Hanwha Aerospace said Thursday that its board of directors decided to raise 3.6 trillion won ($2.46 billion) through a rights offering as it aims to secure more overseas footholds in land and maritime defense and shipbuilding sectors. According to Hanwha Aerospace, 1.6 trillion won from the paid-in capital increase will be used to establish overseas plants and invest in stakes for defense cooperation. As European and Middle Eastern countries prefer investment for local production from simply purchasing weapons systems, Hanwha Aerospace said it will look to actively respond to such needs by building sites globally. The company plans to invest 900 billion won in important defense facilities in Korea as well to bolster the country's role as its global research and development hub and mother factory. Centered on the US, Hanwha Aerospace said it will invest 800 billion won to acquire global maritime defense and shipbuilding footholds. The company already has been conducting a multi-yard strategy based on its Okpo Shipyard in Geoje, the US Philly Shipyard and the Singaporean Dyna-Mac Shipyard. Hanwha Aerospace added that it will invest 300 billion won in developing engines for uncrewed aircraft while expanding cooperation with global partners and strengthening the sovereignty of aerospace engine technologies. The Korean defense-to-shipbuilding company underscored that as a big cycle is expected for defense demands in the mid-to-long-term, it will set up production sites in Europe, the Middle East, Australia and the United States to achieve annual revenue of 70 trillion won and operating profit of 10 trillion won in 2035. According to Hanwha Aerospace, the allocation of new shares will take place on April 24. The subscription period for the existing shareholders will be held for two days from June 3 while the public offering of unsubscribed shares will occur from June 9 to 10. 'As our relentless efforts for growth have led to sustainable profits and an increase in the corporate value, we will achieve another quantum leap in the corporate value by making strategic large-scale investments and advancing to the next level as a top-tier player in the global defense, shipbuilding, maritime and aerospace industries, 'said Son Jae-il, CEO of Hanwha Aerospace.
Korea Herald
09-03-2025
- Business
- Korea Herald
Uncrewed defense: Hanwha's vision for future battlefields
Korean defense conglomerate to complete full lineup of uncrewed ground vehicles by 2028 Hanwha Group, South Korea's seventh largest conglomerate, has unveiled its roadmap to advance defense solutions based on artificial intelligence and autonomous technologies to lead the future battlefields. According to Hanwha on Sunday, the conglomerate's three defense affiliates ― Hanwha Aerospace, Hanwha Ocean and Hanwha Systems ― presented the current status and future roadmap of their unmanned weapons systems during a meeting with the Defense Acquisition Program Administration at Hanwha Aerospace's R&D Campus in Daejeon on Friday. Hanwha Aerospace showcased its uncrewed ground vehicles, including the Arion-SMET, which underwent the US Defense Department's foreign comparative testing, the Ground Uncrewed Transport, or GRUNT, a newly developed next-generation model, and an explosive ordnance disposal robot set to be integrated into the military for the first time this year. Based on its 20-year-long experience of developing military robots, Hanwha Aerospace laid out plans to secure a full lineup of unmanned ground vehicles covering all sizes by 2028 and lead the global UGV market. To accelerate the drive, Hanwha Aerospace signed a partnership with Milrem Robotics, a United Arab Emirates–Estonian robotic vehicle manufacturer, last month to work together on developing robotic combat vehicles and expanding the relevant markets worldwide. The three Hanwha firms also presented a blueprint for the crewed-uncrewed teaming, or MUM-T, solutions that operate the unmanned systems of the land, sea and air defense assets. Hanwha Systems offer an unmanned surface vessel and multilayered communications system based on low-orbit satellites while Hanwha Ocean boasts an uncrewed command and control ship. According to Hanwha, the combined network of such reconnaissance and surveillance systems will allow various operations as they share the situation of each battlefield with on-site weapons systems. 'Developing manned-unmanned complex systems successfully and operating them effectively are essential to strengthen the competitiveness of (our) defense industry in future battlefields,' said Seok Jong-gun, minister of DAPA. 'We will amend related laws and systems to support the requests such as improving the accessibility to the national defense data, which was raised as an issue through this meeting.' Hanwha Aerospace CEO Son Jae-il said the meeting with the DAPA was a meaningful occasion that discussed the direction of uncrewed and AI technologies as well as Korea's sovereign defense capabilities for the future, noting that the country's defense industry will be stronger when the government and defense firms think together and cooperate.
