SEOUL, Dec. 6 (Korea Bizwire) — South Korea’s Hanwha Group said Friday it seeks to resume a major city development project in Iraq, which has been suspended for two years due to unpaid construction fees. Hanwha Corporation E&C Division, the group’s construction arm, said it recently signed an amended contract with Iraq’s National Investment Commission [...]
SEOUL, Oct. 10 (Korea Bizwire) — Major South Korean shipbuilder Hanwha Ocean Co. said Thursday it has won a 1.69 trillion-won (US$1.25 billion) order to build six liquefied natural gas (LNG) dual-fuel container vessels from a European shipper. Hanwha Ocean will construct six 15,000 twenty-foot equivalent units (TEU) LNG dual-fuel container ships at its dockyard [...]
SEOUL, Sept. 12 (Korea Bizwire) — Hanwha Group, a South Korean defense-to-insurance conglomerate, said Thursday it plans to pay 600 billion won (US$447.8 million) for a controlling stake in the Singaporean offshore plant firm Dyna-Mac Holdings. The group’s two defense and shipbuilding affiliates, Hanwha Aerospace Co. and Hanwha Ocean Co., will make a cash tender [...]
SEOUL, May 21 (Korea Bizwire) — Hanwha Group Chairman Kim Seung-youn has called for turning the conglomerate’s defense affiliates into a global export powerhouse, as it seeks growth by selling beyond its main export destinations in Europe. Kim made the remarks as he visited a plant of the group’s key defense unit, Hanwha Aerospace Co., [...]
SEOUL, Feb. 4 (Korea Bizwire) — Hanwha Group, a South Korean energy-to-defense conglomerate, said Sunday its affiliates were set to showcase key weapons technologies at a global defense fair in Saudi Arabia this week. Hanwha, which has defense industry affiliates, including Hanwha Aerospace and Hanwha Ocean, under its wing, said its arms technologies will be [...]
SEOUL, Dec. 8 (Korea Bizwire) — The Australian subsidiary of Hanwha Aerospace signed a 3.1 trillion won (US$2.4 billion) deal Friday to sell 129 Redback infantry fighting vehicles to Australia, South Korea’s arms procurement agency said. Hanwha Defense Australia struck the contract with Australia’s Capability Acquisition and Sustainment Group in Melbourne, the Defense Acquisition Program [...]
KIELCE, Sept. 7 (Korea Bizwire) — South Korea’s Hanwha Group hopes to strengthen its presence in the Polish defense market by competing in the Eastern European country’s submarine acquisition project, a senior executive at the group’s defense unit has said. Lee Boo-hwan, head of Hanwha Aerospace Co.’s European unit, made the remarks Wednesday in a [...]
SEOUL, Aug. 4 (Korea Bizwire) — Hanwha Aerospace Co., an aerospace business unit of South Korean conglomerate Hanwha Group, said Thursday it has completed the development of an energy storage system (ESS) designed for large ships in collaboration with Hanwha Ocean Co., a shipbuilding unit of the group. The newly developed ESS is based on [...]
SEOUL, July 28 (Korea Bizwire) — South Korea’s Hanwha Group has finalized the agreement with the Centre Pompidou in France to establish the museum’s offshoot branch in Seoul, with the opening set for late 2025, the energy-to-defense conglomerate said Friday. The formal contract was signed Thursday, under which Hanwha is given the licensing rights to [...]
SEOUL, July 27 (Korea Bizwire) – Hanwha Defense Australia on Thursday beat Germany’s Rheinmetall to be named as the preferred bidder for Australia’s acquisition project for a next-generation infantry fighting vehicle (IFV), Seoul’s arms procurement agency said. The Australia-based subsidiary of Hanwha Aerospace, a major South Korean defense firm, was chosen as the preferred candidate [...]