Hanwha Aerospace Plans $2.5 Billion Global Expansion

Hanwha Aerospace plans to raise 3.6 trillion won ($2.5 billion) in South Korea's largest share sale in over three years, driven by soaring demand for defense products. The company intends to issue nearly 6 million shares at a price below the current market value, with proceeds aimed at expanding both domestic and overseas production capabilities to meet increasing global defense needs. Approximately 1.6 trillion won will be allocated to establish overseas plants and secure partnerships, particularly in Europe and the Middle East, where local production is preferred. Additionally, Hanwha will invest significantly in domestic facilities and the development of unmanned aircraft engines, while aiming for an ambitious revenue target of 70 trillion won by 2035. This strategic move follows a strong performance in South Korea's defense sector, led by Hanwha's artillery products like the K9 howitzer. The company is also focusing on enhancing its shipbuilding presence in the U.S. and other regions to bolster its global market position.