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☆ South Korea wants to become one of the world's biggest arms dealers
▼ + stars: | 2023-11-27 | by ( Victor Loh | Nessa Anwar | ) www.cnbc.com time to read: +1 min

From 2018 to 2022, South Korea was the ninth largest weapons supplier globally, ahead of Israel, the Netherlands and Turkey. In recent years, South Korea has edged out stiff competition from Western defense manufacturers and cheaper Chinese developers with government support, attractive pricing and faster delivery times. "The government will nurture the defense industry into a state-of-the-art strategic industry that leads economic growth," South Korean President Yoon Suk Yeol has stated. Today, the biggest South Korean defense companies include Hanwha, Korea Aerospace Industries, LIG Nex11 and Hyundai Rotem. But are these factors enough for South Korea to become one of the world's biggest arms dealers?

Persons: Yoon Suk Yeol, Kim Dae, Jumong Kim, Oskar Pietrewicz, Pietrewicz Organizations: Korea Aerospace Industries, LIG, Hyundai Rotem, Hanwha Aerospace, CNBC, South Korean Locations: South Korea, Israel, Netherlands, Turkey, Seoul, United States, Russia, France, Korean, Hanwha, Korea, China, Poland

Two officials from a Korean defence company confirmed the syndicated loan plan. Two officials at South Korean banks said there would be loans, but did not specify the type. That deal was worth $13.7 billion, South Korea's largest to date. The South Korean government didn't immediately provide a comment when asked for one. The South Korean government official did not elaborate on the size of the potential syndicated loan.

Persons: Kacper, didn't, 1,320.4500, Cynthia Kim, Seunggyu Lim, Jihoon Lee, Josh Smith, Gerry Doyle Organizations: REUTERS, Rights, Reuters, South Korean, South, Korea's, Hyundai Rotem Co, Hanwha Aerospace, Hyundai Rotem, U.S, Thomson Locations: South Korea, Wierzbiny, Orzysz, Poland, Rights SEOUL, South Korean, South, Seoul, Ukraine, Russia, Europe

☆ Australia awards South Korea's Hanwha $4.7 bln defence contract
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, July 27 (Reuters) - South Korea's biggest defence company Hanwha Aerospace (012450.KS) on Thursday beat Germany's Rheinmetall (RHMG.DE) to win an Australian contract worth up to A$7 billion ($4.74 billion) for building 129 infantry fighting vehicles. The deal, which Defence Industry Minister Pat Conroy described as one of the largest projects in the history of the Australian army, will have a value of A$5 billion to A$7 billion. Australia has been upgrading its defence capabilities, citing the changing strategic environment in the Pacific region, where China is looking to increase its influence. Hanwha said the deal would further boost ties between Australia and South Korea and had "significant implications" for defence and economic cooperation. ($1 = 1.4780 Australian dollars)Reporting by Renju Jose in Sydney; Editing by Alasdair Pal and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Germany's, Pat Conroy, Conroy, Hanwha, Hanwha's, Anthony Albanese, Renju Jose, Alasdair Pal, Jamie Freed Organizations: SYDNEY, Hanwha Aerospace, Germany's Rheinmetall, Defence Industry, Rheinmetall, Thomson Locations: Australia, Victoria, Pacific, China, South Korea, Germany, Sydney

South Korean companies do not disclose the unit prices for their weapons, which are often sold with support vehicles and spare parts. That will include building South Korean arms on license in Poland, officials in Seoul and Warsaw said. "It may work for some countries at very, very low volume," he added of Polish-brokered South Korean weapons sales, discussing challenges the joint operation might face. The 2022 arms deal began with South Korean companies signing a framework agreement with the Polish government. Seoul has since approved at least some South Korean weapons components for use in Ukraine.

☆ There's an increase in demand for our products from many countries, says aerospace company
▼ + stars: | 2023-05-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's an increase in demand for our products from many countries, says aerospace companySon Jae-il, CEO of Hanwha Aerospace, says South Korea has increased its defense capabilities because of geopolitical issues, giving the company a competitive advantage.

☆ Wall Street pros reveal their top defense stocks — and the same names keep coming up
▼ + stars: | 2023-02-08 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

The iShares U.S. Aerospace & Defense ETF (ITA), which tracks the performance of U.S.-listed aerospace and defense stocks, rose 8.8% in 2022 and is up more than 2% this year. He said defense stocks are "one way to protect the other parts of the portfolio that are under pressure." "I'm bullish on aerospace and defense stocks, and I think those are names that should be in a longer-term portfolio. The investment bank described Moog as a "transition story" that will benefit from an "extended defense spending lift." Other South Korean stocks with exposure to the defense sector include Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering.

☆ South Korean and Japanese defense stocks are rallying after North Korea fired a missile over Japan
▼ + stars: | 2022-10-04 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Shares of South Korean and Japanese defense companies rose sharply in Asia's session after authorities confirmed North Korea launched a ballistic missile that flew over Japanese territory for the first time in five years. And South Korean President Yoon Suk-yeol said his office is considering stronger sanctions on Pyongyang in light of such continued provocations. In South Korea, shares of Hanwha Aerospace, an aircraft engine manufacturer, rose more than 3% in the morning session, while Korea Aerospace, which also develops fighter jets, jumped more than 4%. In Japan, Mitsubishi Heavy Industries, which also makes military machinery through its aircraft, defense and space department, gained more than 3% in Asia's session. Hosoya Pyro-Engineering, which makes flare bombs and smoke candles for the Japanese self-defense forces, also rose more than 5% in Asia's early session.

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