All data are based on the daily closing price as of July 5, 2024

Hanwha Aerospace Secures Additional Contract to Supply Chunmoo MRLS to Poland

Hanwha Aerospace will provide 72 Chunmoo Multiple Rocket Launcher Systems and related technologies to Poland, valued at approximately $1.6 billion
South Korea
h 012450.KO Mid and Small Cap 2000
Share this on

Hanwha Aerospace has signed a new executive contract with the Polish Armaments Agency to supply an additional 72 Chunmoo Multiple Rocket Launcher Systems (MRLS), underpinning the growing defense ties between South Korea and Poland. The agreement, valued at around 2.27 trillion KRW ($1.6 billion), also includes the supply of CTM-290 long-range guided missiles and a technology transfer pertaining to the MRLS’s launch modules.

This contract follows previous agreements made in 2022 and was officially signed at Hanwha Aerospace’s plant in Changwon on April 25, witnessed by defense officials from both countries. The Polish delegation included Deputy Minister of Defense Pawel Bejda and other senior officials, while the Korean side was represented by various high-level defense administrators.

Jaeil Son, President and CEO of Hanwha Aerospace, emphasized the strategic importance of this partnership, noting its role in enhancing security measures in Poland and the surrounding region. He highlighted Hanwha Aerospace’s commitment to providing advanced deterrence solutions where they are most needed.

As part of the pre-signing evaluations, the Polish delegation witnessed a successful test firing of the CTM-290 missile from the Chunmoo launcher, known locally as HOMAR-K, at a military test site in Anheung. This missile demonstrated precision-guided capabilities with a maximum range of 290 km.

The HOMAR-K program, an integral part of this defense collaboration, involves significant participation from the Polish defense industry, integrating Polish components and subsystems into the MRLS, which will be mounted on a Jelcz 8×8 chassis.

In addition to the MRLS deal, Hanwha Aerospace operates a dedicated production line for the K9 Self Propelled Howitzer at the same Changwon facility, highlighting the extensive military cooperation between South Korea and Poland. This facility is poised to produce nearly 200 units annually, with plans to further integrate Polish subsystems into the K9 to create a variant specifically tailored for the Polish Armed Forces.

This contract not only strengthens the bilateral defense relationship but also underscores Hanwha Aerospace’s growing influence in the global defense industry, aligning with Poland’s strategic military modernization efforts amidst evolving security dynamics in Europe.

Share this on
Jakota Newsletter

Stay ahead in the JAKOTA stock markets with our roundup of vital insights

Icon scroll to top