[Featured Stock] Hanwha Systems Sees Buying Influx... Up 11%

[Asia Economy Reporter Lee Seon-ae] Hanwha Systems is showing strong performance.

As of 10:43 AM on the 31st, Hanwha Systems is trading at 22,450 KRW, up 11.49% compared to the previous day. The stock price rose to as high as 23,400 KRW in early trading.

Despite the announcement of a large-scale rights offering, expectations for business potential appear to be emerging. In particular, recent inflows of purchases by private equity funds have been strong.

On the 29th, Hanwha Systems held a board meeting and resolved to conduct a rights offering worth 1.2 trillion KRW (78,689,000 shares).

The raised funds will be invested over the next three years starting this year, with 500 billion KRW allocated to low Earth orbit (LEO) satellite communications and 450 billion KRW to air mobility. Additionally, 250 billion KRW will be invested in blockchain-based digital platform businesses.

Including the newly invested businesses, the company aims to achieve sales of 23 trillion KRW by 2030. Notably, Hanwha Systems plans to apply the technology it has secured through 20 years of participation in military satellite communication system development to civilian satellite communications. The company also revealed plans to launch its own communication satellite by 2023 to begin pilot services for low Earth orbit satellite communications and to officially launch the service in 2025.

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