Gwanglim and Hanwha Defense Selected as Australian Defense Industry Cooperation Partners

Increased Likelihood of Entering a 5 Trillion Won Scale Business

[Asia Economy Reporter Minji Lee] Kwanglim announced on the 14th that it has been selected as the preferred negotiation partner for the development of cranes to be mounted on two types of Hanwha Defense's variant vehicles.

Kwanglim has been recognized for its technological capabilities in the defense crane sector, including development, production, and quality assurance systems. It is currently developing and supplying cranes mounted on the recovery armored vehicle (K21ARV), which performs recovery missions for the infantry fighting vehicle (K21) operated by the Republic of Korea Army, with about 140 units currently in operation.

If Hanwha Defense is selected as the contractor early next year, it will supply these products for approximately seven years. Currently, Hanwha Defense's 'Redback' is highly likely to be supplied for the Land 400 Phase 3 project. Land 400 Phase 3 is being pursued by the Australian Army to introduce about 400 next-generation tracked infantry fighting vehicles and 10 types of variant vehicles. The total project cost is between 8 to 12 trillion KRW, with 5 trillion KRW allocated solely for armored vehicles, making it the largest ground equipment acquisition project.

Previously, in September 2019, the Australian Army selected Hanwha Defense's Redback and Germany's Rheinmetall Defense's 'Lynx' as the final two candidates, with plans to select the final contractor in 2022. The Redback is a future infantry fighting vehicle that enhances protection and mobility by adding the 'Powerpack Solution,' an engine and transmission from the K9 self-propelled howitzer, to the K21 development technology.

Sung Seok-kyung, CEO of Kwanglim, said, "By supplying Kwanglim's crane products to Hanwha Defense, the possibility of entering the Australian defense industry market has increased," adding, "This recognizes our high quality, technological capabilities, and stable supply as a special-purpose vehicle manufacturer in the defense sector."

Meanwhile, Kwanglim is a company that manufactures and sells cranes, electric construction vehicles, and environmental special-purpose vehicles. Since being designated as a defense industry company in January 1988, it has been supplying special-purpose vehicles in the defense sector such as ammunition cranes and heavy weapon mounting equipment.

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