Hanwha Co., Ltd. Spins Off Dispersed Munitions Business in Defense Sector

[Asia Economy Reporter Hwang Yoon-joo] Hanwha Co., Ltd. announced on the 30th that it will spin off its submunition business in the defense sector to secure sustainable growth and future growth engines. The newly established company through the spin-off, Korea Defense Industry Co., Ltd., will operate as an independent corporation with specialized development and production capabilities tailored to the spun-off business and a responsible management system.

Through this business restructuring, Hanwha Co., Ltd. expects to resolve uncertainties regarding global safety and environmental standards related to the submunition business. This will enable the company to secure greater growth opportunities in the mid to long term, such as enhancing brand value, thereby realizing sustainable management and increasing shareholder value.

In fact, recent domestic and international investors and institutions consider information that assesses corporate value from a long-term perspective, such as *ESG, as an important factor in investment decisions, beyond traditional financial performance. Hanwha Co., Ltd. will continue efforts to meet the new standards required by the international community as it expands its global business.

Additionally, Hanwha Co., Ltd. plans to strengthen research and development and investment in advanced laser and precision-guided weapon fields to secure future growth engines. Based on this, the company aims to contribute to autonomous national defense and the development of the national defense industry.

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