Hyundai Rotem seals record $6.5 bn K2 tank deal with Poland

Hyundai Rotem Co., a South Korean defense system developer, will export its battle tanks to Poland in what would be the largest single export deal f...

S.Korea to have 1st civilian defense minister in decades, career technocrats

South Korean President Lee Jae-myung on Monday announced a sweeping Cabinet reshuffle, naming a mix of career technocrats, senior lawmakers and &mda...

Lockheed Martin, KAI to expand partnership to future defense, aerospace tech

Global defense giant Lockheed Martin Corp. and Korea Aerospace Industries Ltd. (KAI) on Tuesday agreed to expand their collaboration into futur...

Hyundai Rotem set to finalize $6 bn K2 tank order from Poland

Hyundai Rotem Co., a South Korean defense company, is set to finalize a tank supply contract with Poland, with the deal's value nearly doubling &nda...

Hanjin KAL, LS expand defense business alliance to counter Hoban Group

South Korea’s Hanjin Group and LS Group are tightening their alliance further against Hoban Group, which is raising its stake in Hanjin.Korean...

Hanwha Aerospace to build defense plant in Germany as European base

Hanwha Aerospace Co. plans to build a precision missile manufacturing plant in Germany as part of its global strategy to expand its presence across ...

Seoul, Washington agree on July tariff deal framework in '2+2' trade talks

WASHINGTON, D.C. – South Korea and the US have agreed to work together to craft a comprehensive tariff-liberalization package by July 8, marki...

South Korean defense industry thriving on strong overseas demand

The South Korean defense industry's current heyday is expected to continue for a while as global demand for Korean-made weapons and combat systems h...

NPS pours $3.9 bn to buttress Korean stock market

South Korea’s National Pension Service, the country’s largest institutional investor, has come to the rescue of the domestic stock marke...

Hanwha Aerospace signs $254 million deal to supply K9 howitzers to India

Hanwha Aerospace Co., a leading South Korean defense company, said on Thursday it has signed a 370 billion won ($254 million) deal to supply K9 self...

Hanwha Aerospace plans record $2.5 bn rights offering for plant expansion

Hanwha Aerospace Co., a leading South Korean defense company, said on Thursday it is raising 3.6 trillion won ($2.5 billion) in new capital through ...

S.Korea’s Hanwha acquires 9.9% in Australia’s Austal

South Korean chemicals-to-defense conglomerate Hanwha Group has taken a 9.9% stake in Austal Ltd., an Australian shipbuilder, for 183.3 million Aust...

HD Hyundai, Palantir chiefs discuss AI shipyard, defense technology

Chung Kisun, executive vice chairman of the world’s largest shipbuilder HD Hyundai Co., has met with Alex Karp, CEO of Palantir Technologies I...

Asia’s defense stocks climb on hopes of more European arms spending

Defense stocks in key Asian markets jumped on Tuesday, buoyed by expectations that European nations will boost security spending amid fears that the...

US Defense Secretary Pete Hegseth eyes March visit to Seoul

US Defense Secretary Pete Hegseth is arranging a visit to South Korea next month to inspect shipyards and discuss cooperation on naval vessel constr...

S.Korea’s Hanwha eyes L-SAM exports with UAE’s EDGE  

Hanwha Group’s Vice Chairman and heir apparent Kim Dong-kwan is on the front line to export South Korea's latest homegrown air defense system ...

S.Korea’s defense order backlog reaches record $73.1 billion at end-2024

South Korea’s seven major defense companies saw their combined order backlog reach a record 105.6 trillion won ($73.1 billion) at the end of 2...

Hanwha agrees to buy 60% stake in Ourhome for $599 mn

South Korea’s Hanwha Group, which is seeking to re-enter the catering market five years after leaving the sector, has agreed to buy a nearly 6...

Hanwha Systems posts record earnings in 2024 on brisk defense sales

Hanwha Systems Co., a leading South Korean defense company, reported its best-ever earnings last year thanks to brisk sales of its defense systems i...

HD Hyundai starts to construct Peruvian Navy warships

South Korea's HD Hyundai Heavy Industries Co. officially launched the Peruvian navy's four warship project on January 10. The Peru Warship Pr...

India to acquire 100 units of Hanwha Aerospace’s K9 howitzers via L&T

India will acquire 100 units of the K9 self-propelled howitzers developed by South Korea’s Hanwha Aerospace Co. from Larsen & Toubro (L&am...

HD Hyundai Infracore to invest $79.6 mn in engine, battery pack

South Korea's HD Hyundai Infracore Co. said on Monday it signed a memorandum of understanding (MOU) with North Jeolla Special Self-Governing Provinc...

Leonardo's Coulter named Hanwha Aerospace’s 1st foreign global chief

Hanwha Aerospace Co., a leading South Korean defense company, said on Monday it has hired Michael Coulter, a former senior executive at US-based Ita...

LIG Nex1, Electroninks to team up for component materials

South Korea's LIG Nex1 Co. said Tuesday it signed a memorandum of understanding (MOU) with the US-based Electroninks Inc. to research and develop ne...

Latvian President Rinkēvičs seeks closer ties with S.Korea in bio, defense

Latvian President Edgars Rinkēvičs, who is on a four-day working trip to South Korea, said on Friday he hopes for deeper cooperation between the two...

Hanwha Ocean, Babcock to team up for submarine exports

South Korea's Hanwha Ocean Co. said on Friday it signed a strategic partnership with the UK-based global defense industry giant Babcock Internationa...

La Defense might have a say over Hanmi Pharm's family feud

La Defense Partners is expected to exercise a casting vote over the ongoing management dispute at Hanmi Science Co. after the Seoul-based private eq...

LIG Nex1, UK’s Babcock sign MOU to develop global MRO market

LIG Nex1 Co., a leading defense systems developer in South Korea, announced on Wednesday that it had signed a comprehensive memorandum of understand...

Volpara to supply breast cancer SW to US Defense Health Agency

Lunit, a South Korean cancer diagnostics AI company, said on Monday its US subsidiary Volpara Health secured a 10 billion won ($7.5 million) contr...

South Korea to deploy ‘Iron-Dome’ style defense system early

South Korea will deploy a new air defense system, similar to Israel’s Iron Dome, against North Korean artillery attacks earlier than previousl...