Korea Joongang Daily
Korea JoongAng Daily

Hanwha Aerospace pulls out of Poongsan ammunition acquisition bid

Hanwha Aerospace has decided not to proceed with its bid to acquire the ammunition production division of defense manufacturer Poongsan, a regulatory filing Thursday showed.

2026-04-09

With U.S. entry, Hanwha mulls purchase of Poongsan's ammunition division for K9 rounds

Hanwha Aerospace, Korea’s largest defense firm that is pushing for U.S. market entry with its K9 howitzer, is considering acquiring the ammunition production division at Poongsan.

2026-04-06

Kospi opens sharply higher on tech boost

Shares kicked off nearly 3 percent higher Wednesday, driven by sharp gains in blue chip tech shares, despite continuing uncertainties in the Middle East. The Kospi jumped 162.04 points, or 2.87 percent, to 5,802.52 in the first 15 minutes of trading.

2026-03-18

Hanwha Group increases stake in KAI to expand cooperation in future aerospace projects

Hanwha Group is increasing its stake in Korea Aerospace Industries (KAI) as it looks to strengthen its position in Korea’s aerospace and defense industry. Hanwha Aerospace acquired 2.67 million common shares in KAI in October last year.

2026-03-17

Game publisher Krafton to partner with Hanwha Aerospace to develop AI tech

Korean game publisher Krafton announced that it will partner with defense giant Hanwha Aerospace to jointly develop physical AI technologies and establish a joint venture to combine Krafton’s AI capabilities with Hanwha Aerospace’s infrastructure.

2026-03-13

DAPA permits manufacturer ownership of K9A1 howitzer, sets precedent

The state arms procurement agency on Tuesday gave the green light to Hanwha Aerospace's request to maintain ownership of a K9A1 self-propelled howitzer that it developed, setting a manufacturer-ownership permit precedent.

2026-02-24

Hanwha Aerospace, HD HHI log record revenue on banner year for K-defense

Korea’s defense and shipbuilding heavyweights posted record revenue and profit last year, with Hanwha Aerospace and HD Hyundai Heavy Industries riding strong overseas demand for weapons systems and high-value ships.

2026-02-10

Hanwha Aerospace, KAI announce collaboration in defense, aerospace sectors

Hanwha Aerospace and Korea Aerospace Industries (KAI) have agreed to cooperate in developing and exporting key products in the defense industry as well as the space and aviation sectors.

2026-02-06

Norway orders $2B artillery system from Hanwha Aerospace

The Norwegian government said on Thursday it has signed a $2 billion contract to buy long-range artillery systems from Korean defense group Hanwha Aerospace as the NATO country seeks to boost its deterrence against Russia.

2026-01-29

Hanwha Aerospace wins Norway rocket deal, contract signing expected Friday

Hanwha Aerospace has secured an estimated $1.9 billion project to supply its K239 Chunmoo multiple rocket launcher systems to Norway, with the official contract expected to be signed this week.

2026-01-28