SEOUL, Oct. 10 (Korea Bizwire) – Hanwha Aerospace Co., a leading South Korean defense firm, has awarded a US$71 million contract to Electro Optic Systems (EOS) Ltd. of Australia to supply remote weapons system (RWS) units for Canberra’s next generation infantry fighting vehicle (IFV) program. Under the agreement with Hanwha Defence Australia, a subsidiary of [...]
SEOUL, Feb. 1 (Korea Bizwire) — It is expected that a merger between Hyundai Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. will create massive synergy not only in the South Korean shipbuilding industry, but also in maritime defense. Both companies are listed as major manufacturers of naval vessels and submarines, in charge [...]
SEOUL, Sept. 26 (Korea Bizwire) – The South Korean defense industry has been found to contribute little to creating job opportunities despite accounting for 10 percent of government spending, a new report has claimed. According to the new report by the Korea Institute for Industrial Economics & Trade released on Sunday, despite receiving 10 percent of [...]
SEOUL, May 24 (Korea Bizwire) — The chief of the presidential policy planning advisory panel said Tuesday that it would explore ways to stamp out deep-seated corruption in the defense industry, long blamed for eroding the country’s military capabilities. During a regular press briefing, Kim Jin-pyo also said the panel would seek a “comprehensive” approach [...]
GOYANG, South Korea, Sept. 8 (Korea Bizwire) – South Korea is hosting its largest defense expo for ground forces at Goyang’s KINTEX (Korea International Exhibition & Convention Center). Dubbed Defense Expo Korea 2016, this is the second exhibit of its kind after the inaugural event in 2014, and will be attended by some 400 defense [...]
CHANGWON, South Korea, June 1 (Korea Bizwire) – The 2016 Korea Defense Equipment & Component Industry Fair is taking place from June 1 to June 4 at the Changwon Exhibition Convention Center. The exhibition is aimed at encouraging the domestic production of defense supplies, as well as promoting the cooperation of all businesses, big and [...]
SEOUL, July 31 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering announced that it has signed a contract to provide complete diagnosis and consulting service for enhancing efficiency in shipyard operations, with BAE Systems Surface Ships Ltd. of Britain. The main purpose of this agreement is to conduct diagnosis on BAE’s shipbuilding business and dockyard operation system [...]