S.Korean defense stocks boosted by $7.6 bn deal with Poland

Korea Aerospace Industries, Hanwha, Hyundai Rotem and LIG Nex1 shares rose on Monday

Korea Aerospace Industries' FA-50 light combat fighter jets (Courtesy of KAI)
Korea Aerospace Industries' FA-50 light combat fighter jets (Courtesy of KAI)
Tae-Hoon Lee 1
2022-07-25 18:05:40 beje@hankyung.com
Korean stock market

South Korean defense stocks got a boost from a 10 trillion-won ($7.6 billion) export deal with Poland announced last week. 

Korea Aerospace Industries Ltd. (KAI) shares closed at 53,800 won, climbing 5.91% on Monday; Hanwha Aerospace Co. closed at 51,700 won, up 3.61%; and Hanwha Systems closed at 14,050 won, up 14.07%.

LIG Nex1 Co. jumped 3.99% to 80,800 won, and Hyundai Rotem Co. rose 2.66% to 25,050 won on the same day.

On July 22, Polish Defense Minister Mariusz Blaszczak said Poland will buy 48 FA-50 light combat fighter jets, 180 K2 Black Panther tanks and an unspecified number of K9 howitzers from Korea, in an interview with Polish media. He also mentioned the purchase of howitzers on his Twitter account.
 
KAI and Hyundai Rotem manufacture the FA-50 and K2 Black Panther tanks, respectively. Hanwha Aerospace supplies fighter jet parts to KAI.

Write to Tae-Hoon Lee at beje@hankyung.com
Jihyun Kim edited this article.
#defense stock Korea #aerospace stock Korea #Kospi Korea #Korea Aerospace Industries #Hanwha Aerospace Korea #Hanwha Systems Korea #Hyundai Rotem Korea #Poland defense

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