Hanwha Defense, 1.2 Trillion KRW in Orders in the First Half of the Year

[Asia Economy Yang Nak-gyu Reporter] Hanwha Defense secured domestic contracts worth 1.2 trillion won in the first half of the year despite the impact of the novel coronavirus disease (COVID-19). This figure is more than five times higher than that of the first half of last year.

On the 30th, Hanwha Defense announced that it signed an additional mass production contract for the K56 ammunition carrier armored vehicle worth 380.3 billion won. Earlier, on the 19th and 22nd, it signed contracts with the Defense Acquisition Program Administration for outsourced maintenance of the K9A1 self-propelled howitzer performance upgrade at 194.3 billion won and for outsourced maintenance of the surface-to-air missile system 'Cheonma' at 238.3 billion won, respectively. Then, on the 24th, it signed the first mass production contract for the 30mm wheeled anti-aircraft gun, which replaces the old Vulcan gun, worth 251.7 billion won, and on the 29th, it signed an additional mass production contract for the K56 ammunition carrier armored vehicle worth 380.3 billion won.

The amount of orders received in the first half of the year is close to 1.2 trillion won, which is 370 billion won more than expected. The expected order amount for the second half is estimated to reach up to 1 trillion won, suggesting that the total order amount for this year will nearly double compared to last year.

Additional mass production contracts for the K105A1 self-propelled howitzer and outsourced maintenance contracts for the Marine Corps amphibious assault armored vehicle are scheduled, and development of explosive detection and removal robot systems and mass production contracts for the 120mm self-propelled mortar are also expected to follow. Additionally, Hanwha Defense is participating in the self-propelled crossing equipment project, for which a preferred negotiation partner will be selected by the end of this year, and is currently preparing for testing and evaluation.

The company explained that these order achievements were the result of close cooperation and mutual growth efforts with partner companies, which is significant in terms of contributing to revitalizing the national economy and creating jobs for partner companies.

Lee Sung-soo, CEO of Hanwha Defense, stated, "We will continue to expand Hanwha Defense’s market base by better meeting the requirements of our customer, the military, as well as continuously expanding efforts for mutual growth with our partner companies."

This content was produced with the assistance of AI translation services.