[Featured Stock] Hanwha Systems Soars 9%... Wonweb Joins Board with 345 Billion Won Investment

[Asia Economy Reporter Lee Seon-ae] Hanwha Systems' stock price is on the rise.

As of 10:46 AM on the 12th, Hanwha Systems is trading at 18,300 KRW, up 9.23% from the previous trading day. It surged up to 18,450 KRW.

It is interpreted that the stock price soared as Hanwha Systems announced an investment of 300 million USD (approximately 345 billion KRW) in the global "space internet" company OneWeb. Hanwha Systems stated, "We have signed an investment agreement with OneWeb and will join the board of directors alongside the UK government, Bharti Global, one of the world's top three mobile carriers, Eutelsat, one of the world's top three satellite communication companies, and Japan's SoftBank."

OneWeb's main business is "space internet," which provides ultra-high-speed internet worldwide by deploying numerous satellites in low Earth orbit. OneWeb successfully launched the world's first satellites for "space internet" in 2019 and currently operates 254 low Earth orbit satellites orbiting the Earth through eight launches. According to Hanwha Systems, OneWeb will launch an additional 34 satellites on the 19th and plans to complete its space internet network with 648 satellites next year, officially starting global space internet services.

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