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Hanwha Aerospace Strikes KRW641 Billion Chunmoo Deal with Croatia

Hanwha Aerospace (KRX:012450) secured a 641.09 billion-won order to supply Chunmoo multiple launch rocket systems (MLRS) to Croatia's Ministry of Defence.The Friday disclosure confirms earlier reports that Hanwha was nearing a deal with Croatia. The company had said on Sept. 7 that it was in discussions with the customer, but the export deal had yet to be finalized.Under the payment terms, 25% of the contract value will be paid within 30 calendar days of contract signing, 35% within 30 calendar days after 12 months from contract signing, and the remaining amount within 30 days of delivery.

Hanwha Aerospace Says Chunmoo Croatia Export Deal Not Finalized

Hanwha Aerospace (KRX:012450) said its potential export of Chunmoo multiple rocket launchers to Croatia has not been finalized, according to a bourse filing on Monday.The company is currently in discussions with the customer over the possible deal, responding to a Sept. 5 report by Maeil Business Newspaper, but no contract has been signed, the disclosure said.Hanwha added that it will make another disclosure when specific details are determined or within one month, by Oct. 6.

Market Chatter: Hanwha Aerospace Nears 435 Million-Euro Deal to Supply Chunmoo System to Croatia

Hanwha Aerospace (KRX:012450) is set to clinch a 435.2 million-euro deal to supply 18 Chunmoo launchers and guided missiles to Croatia, The Korea Times reported Friday, citing industry sources.The deal, if finalized, will make Croatia the fourth European country to acquire the Chunmoo system, after Poland, Estonia, and Norway.Hanwha Aerospace did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hanwha Aerospace Wins Derivative Contract for Spain K9 Self-propelled Howitzer

Hanwha Aerospace (KRX:012450) signed a derivative contract with Spain's Indra Sistemas for the supply of K9 self-propelled howitzers, according to a Monday filing with the Korea Exchange.The contract period and amount may change depending on the progress. The contract took effect Aug. 28, it said.The company said the details may be disclosed after the confidentiality period ends on Nov. 28. The payment terms include a 20% advance payment upon signing and an additional 5% payment by Dec. 31, the filing said.Shares of Hanwha Aerospace fell nearly 5% at market close.

Hanwha Aerospace Launches U.S. LNG Unit to Build Global Energy Value Chain

Hanwha Aerospace (KRX:012450) has established Hanwha Horizon USA to spearhead its global LNG business, overseeing procurement, trading, and logistics optimization, according to a statement on Tuesday.Hanwha plans to build an integrated LNG value chain spanning transportation, supply, and power generation, initially fueling its Yeosu LNG plant, which is due online in 2029, before expanding to other markets.Hanwha Aerospace has already secured supply agreements with U.S. producer Venture Global and a partnership with Korea Southern Power, while holding an S&P A- credit rating to support expansion.The new LNG unit, which will be led by CEO of Hanwha Shipping James Sagar, also aims to strengthen Korea-U.S. energy security cooperation and broaden integrated security partnerships spanning energy and defense.

Nomura Adjusts Hanwha Aerospace's Price Target to KRW1,450,000 From KRW1,400,000, Keeps at Buy

Hanwha Aerospace (KRX:012450) has an average rating of buy and mean price target of 1,644,090.90 won, according to analysts polled by FactSet.

Hanwha Lands First Major US Army Contract

Hanwha Aerospace (KRX:012450) said its U.S. subsidiary has secured a contract from the U.S. Army to deliver six prototype K9 Mobile Howitzers under the Mobile Tactical Cannon program, with an option for 12 additional systems.This is Hanwha Defense USA's first major Army contract and entails the accelerated delivery of the 155mm artillery systems, which are intended to support the Army's modernization and long-range precision-fire objectives, according to a Tuesday statement by the Hanwha (KRX:000880) unit.

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Hanwha Aerospace Says No Terms Finalized for Austal U.S. Business Deal

Hanwha Aerospace (KRX:012450) said its unit is considering acquiring Austal's US business, but no specific terms of the potential deal have been finalized, denying media reports on the specific deal terms, according to a Tuesday filing with the Korean Exchange.The company said that its unit Hanwha Defense USA plans to acquire Austal's business as part of efforts to expand its business base in the United States, but the transaction structure and timing have yet to be determined.The company also denied media reports that the said acquisition would be completed for up to 1.7 trillion won.Shares of the aerospace and defense company were down 6% in Tuesday trading.

Hanwha Aerospace Ends KRW455 Billion Supply Contract with UK's Vertical Aerospace

Hanwha Aerospace (KRX:012450) said it terminated a 454.8 billion won contract with U.K.-based Vertical Aerospace, according to a Tuesday filing with the Korea Exchange.The contract, signed in August 2022, involved the development and supply of electromechanical actuators, tilting systems and blade pitch systems for Vertical Aerospace's VX4 aircraft.The South Korean aerospace company said the decision was made by mutual agreement following changes in market conditions and business direction relative to the project's original objectives.Hanwha said the companies simultaneously signed a memorandum of understanding to maintain their cooperative relationship and lay the groundwork for future collaboration on similar projects.Shares of Hanwha Aerospace jumped over 10% in recent trade.

Hanwha Aerospace Terminates KRW 455 Billion Supply Contract with Vertical Aerospace

Hanwha Aerospace (KRX:012450) has agreed to terminate its supply contract with Vertical Aerospace, originally signed on Aug. 23, 2022, for the development and supply of EMA, tilting, and blade pitch systems for the VX4 aircraft.The contract, valued at approximately 454.8 billion won, representing 7.09% of Hanwha's 2021 sales, was ended early on July 31, by mutual agreement, according to a bourse filing on Monday.Both companies cited changes in market conditions and strategic direction since the contract's signing as the primary reasons for termination.Simultaneously, the parties have signed a memorandum of understanding to maintain future cooperation and establish a foundation for collaboration on similar development and mass-supply projects.

Hanwha Aerospace Secures Framework Supply Contract in South Korea

Hanwha Aerospace (KRX:012450) secured a framework contract with an unnamed entity to supply aerospace products, exceeding 2.5% of its most recent annual sales, according to a Monday filing with the Korea Exchange.The company said that the contract is subject to disclosure requirements, and the details of the agreement are withheld due to business confidentiality.

Hanwha Aerospace Files for Singapore Listing of $500 Million Bonds

Hanwha Aerospace (KRX:012450) filed for the listing of $500 million 5% senior unsecured bonds due 2029 on the Singapore bourse, according to a filing with the Singapore Exchange on Monday.The bonds will be listed and quoted on the Bonds Market on or about July 28, the aerospace company said.

South Korean Shares Close Sharply Lower on Escalated US-Iran Military Conflict, Oil Price Jump

South Korean shares broke a three-day winning streak to close sharply lower on Friday, amid escalating tensions in the Middle East.The U.S. carried out a 13th straight night of strikes on Iran on Thursday, targeting military sites and commercial establishments, while Yemen's Iran-backed Houthi rebels said they attacked two Saudi oil tankers in the Red Sea. In addition, these escalations led to oil prices climbing above $100 a barrel.The Korea Composite Stock Price Index, or Kospi, decreased by 406.27 points, or 5.7%, to end at 6,690.62. The Kosdaq also fell by 42.06 points, or 5.3%, to close at 748.22.In corporate news, Samsung Electronics' (KRX:005930) decision to award bonuses of over $400,000 to some of its employees has led to labor protests across major firms in South Korea, Bloomberg News reported Friday.Assembly-line workers at automaker Hyundai Motor (KRX:005380) plan to carry out a three-day partial strike next week to demand bonuses of up to 30% of consolidated profit, while unions at HD Hyundai Heavy Industries (KRX:329180) and LG Uplus (KRX:032640) are seeking payouts equal to at least 30% of operating profit, the report said.Employees at Hanwha Aerospace (KRX:012450) and HD Hyundai Electric (KRX:267260) seek bonus limitations removed, while workers at internet giant Kakao Corporation (KRX:035720) are demanding up to 15% of operating profit for bonuses, and technology firm Naver's (KRX:035420) union is establishing a coalition with affiliate unions to boost negotiations, Bloomberg News said.Kakao Corporation could not be reached, while Hyundai Motor, HD Hyundai Heavy Industries, LG Uplus, Hanwha Aerospace, HD Hyundai Electric, and Naver did not immediately respond to' request for comment.Shares of Samsung Electronics fell nearly 8%, those of Hyundai Motor and HD Hyundai Electric declined 7%, while shares of HD Hyundai Heavy Industries fell nearly 3% at market close. Shares of Hanwha Aerospace added over 2%, while shares of Kakao and Naver declined 3% and 6%, respectively.In other news, KB Financial Group (KRX:105560) posted a 3.2% year-over-year decline in profit attributable to owners of the parent to 1.124 trillion won from 1.161 trillion won for the second quarter, according to a Friday filing with the Korea Exchange.Net sales fell 17% to 11.8 trillion won from 14.2 trillion won for the three months ended June 30.Shares of KB Financial slipped 3% at market close.

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Market Chatter: Samsung Electronics' $400,000 Bonus Leads to Labor Protests Across South Korea

Samsung Electronics' (KRX:005930) decision to award bonuses of over $400,000 to some of its employees has led to labor protests across major firms in South Korea, Bloomberg News reported Friday.Assembly-line workers at automaker Hyundai Motor (KRX:005380) plan to carry out a three-day partial strike next week to demand bonuses of up to 30% of consolidated profit, while unions at HD Hyundai Heavy Industries (KRX:329180) and LG Uplus (KRX:032640) are seeking payouts equal to at least 30% of operating profit, the report said.Employees at Hanwha Aerospace (KRX:012450) and HD Hyundai Electric (KRX:267260) seek bonus limitations removed, while workers at internet giant Kakao Corporation (KRX:035720) are demanding up to 15% of operating profit for bonuses, and technology firm Naver's (KRX:035420) union is establishing a coalition with affiliate unions to boost negotiations, Bloomberg News said.Kakao Corporation could not be reached while Hyundai Motor, HD Hyundai Heavy Industries, LG Uplus, Hanwha Aerospace, HD Hyundai Electric, and Naver did not immediately respond to' request for comment.Shares of Samsung Electronics fell over 8%, those of Hyundai Motor and HD Hyundai Electric declined over 9% and 7% respectively, while shares of HD Hyundai Heavy Industries fell more than 2% in recent trade. Shares of LG Uplus declined over 1% while those of Hanwha Aerospace added nearly 3%. Shares of Kakao and Naver declined nearly 4% and over 7%, respectively.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Hanwha Aerospace Confirms Binding MOU for Spain Howitzer Program

Hanwha Aerospace (KRX:012450) said it signed a binding memorandum of understanding with Indra Sistemas and UTE ATP CADENAS to participate in Spain's self-propelled howitzer modernization program, according to a Thursday regulatory filing.The MOU covers product supply, cooperation on localization and local production development, the company said.Hanwha Aerospace said it is discussing the specific terms of a contract and will provide an update when an agreement is signed or within six months, whichever comes first.The filing follows the company's clarification of a March media report that said Hanwha Aerospace signed an MOU with Spain's largest defense company for local production of its K9 self-propelled howitzer.

S&P Rates Hanwha Aerospace's Proposed US Dollar Notes A-

S&P Global Ratings on Wednesday placed an A- long-term issue rating on Hanwha Aerospace's (KRX:012450) proposed US dollar senior unsecured notes.The notes' rating is equivalent to the Korean company's issuer credit rating, as the parent's sizable earnings amply mitigate possible subordination risks from a high priority debt ratio, S&P said.The company's priority debt ratio hit 57% at the end of March, above S&P's 50% notching threshold.S&P believes the company will gain from the secular growth of global defense spending due to its strong position in land defense systems.However, the company faces risks from a cyclical shipbuilding industry, its heightened investment plans, and execution risks from growth abroad.Shares of the company rose more than 6% in recent trade.

Hanwha Plans 55 Trillion Won AI, Space Investments; Shares Rise 3%

Hanwha Corp. (KRX:000880) on Friday said it plans to invest 55 trillion won in integrated space infrastructure and artificial intelligence sectors by 2040.The company will build infrastructure that will comprise launch vehicles, ultra-low-orbit synthetic aperture radar (SAR) satellites, space-based AI data centers, and a low-Earth orbit (LEO) satellite communications network.Hanwha Aerospace (KRX:012450) will invest about 23 trillion won in launch vehicles, while Hanwha Systems (KRX:272210) will spend 20 trillion won on satellites and communications infrastructure.Shares of Hanwha Corp. rose more than 3% in Monday's trade, while those of Hanwha Aerospace fell nearly 4%. Shares of Hanwha Systems added nearly 4%.

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S&P Global Assigns A- Rating to Hanwha Aerospace With Stable Outlook

S&P Global Ratings assigned South Korean defense contractor and shipbuilder Hanwha Aerospace (KRX:012450) a long-term issuer credit rating of A- with a stable outlook, according to a Sunday release by the credit rating agency.The stable outlook reflects S&P Global's expectation that Hanwha Aerospace's strong order backlog will drive steady revenue and EBITDA growth over the next two years.In addition, the firm's strong ties with the South Korean government keep it in a strong position to likely receive extraordinary government support, the rating firm said.Hanwha Aerospace's combined domestic and export land systems order backlog increased to 37.2 trillion won last year from 19.9 trillion won in 2022. The order backlog last year can generate about 4.6 years of revenue, the release said.Shares of Hanwha Aerospace fell nearly 1% in Tuesday morning trade.

Research83d ago

CLSA Starts Hanwha Aerospace at Buy with KRW1,800,000 Price Target

Hanwha Aerospace (KRX:012450) has an average rating of buy and mean price target of 1,826,500 won, according to analysts polled by FactSet.

S&P Global Rates Hanwha Aerospace

S&P Global Ratings assigned South Korean defense contractor and shipbuilder Hanwha Aerospace (KRX:012450) a long-term issuer credit rating of A- with a stable outlook, according to a Monday release.The stable outlook reflects the rating agency's expectation that the company's strong order backlog will drive steady revenue and EBITDA growth over the next two years. In addition, the firm's strong ties with the South Korean government keep it in a strong position to likely receive extraordinary government support ahead.Hanwha Aerospace's combined domestic and export land systems order backlog increased to 37.2 trillion won in 2025 from 19.9 trillion won in 2022. The order backlog in 2025 is equivalent to about 4.6 years of revenue, according to the S&P Global release.

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