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 [...]
SEOUL, June 13 (Korea Bizwire) — A package known as the “half-day” option is attracting individuals seeking affordable accommodations before the summer holidays. Hanwha Resort, run by Hanwha Hotels & Resorts Co., said Monday it will introduce a 12-hour “half-day, half-price” package for customers planning an early vacation. The offer is valid until June 30. [...]
SEOUL, May 23 (Korea Bizwire) — Major South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) was rebranded as Hanwha Ocean Co. on Tuesday, opening a new era as a unit of Hanwha Group, the seventh-largest conglomerate in the country. The embattled shipyard also appointed Kwon Hyuk-woong, president of Hanwha’s support division, as its [...]
SEOUL, April 27 (Korea Bizwire) — The South Korean antitrust regulator’s conditional approval of the plan to take over Daewoo Shipbuilding & Marine Engineering Co. (DSME) removes the last hurdle for Hanwha Group’s push to become a global leader in the defense and energy sector. But it also leaves Hanwha, the seventh-largest conglomerate in the [...]
SEOUL, April 3 (Korea Bizwire) — Hanwha Group has received approval from the European Union for its plan to acquire Daewoo Shipbuilding & Marine Engineering Co. (DSME), company officials said Monday. The EU’s decision came earlier than expected, as it was widely expected to deliver the result of its review in mid-April. Hanwha has obtained [...]
SEOUL, March 24 (Korea Bizwire) — Hanwha Advanced Materials Inc., a unit under South Korea’s energy-to-defense Hanwha Group, will spend US$147 million to build a facility in the U.S. state of Georgia to supply a key material to Hanwha’s solar panel arm, the Georgia governor’s office has said. The factory will be located in Cartersville, [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s leading electric vehicle (EV) battery maker, LG Energy Solution Ltd. (LGES), and defense-focused Hanwha Group said Monday they have joined hands to establish battery production facilities for the energy storage system (ESS) in the United States and develop batteries for air mobility and other future growth engines. [...]