Hanwha's Kim Dong-kwan Discusses Defense Industry Cooperation with Saudi Minister of National Defense

Saudi Arabia's 'Vision 2030' Defense Industry Growth
Hanwha Proposes Localization, Joint Development, or MRO

Kim Dong-kwan, Vice Chairman of Hanwha Group, met with Abdullah bin Bandar Al Saud, Minister of National Defense of Saudi Arabia, and agreed to contribute to Saudi security and economy, as well as to jointly respond to security demands in the Middle East region.

Hanwha Group announced on the 6th that Vice Chairman Kim and Minister Abdullah met at Lotte Hotel in Jung-gu, Seoul on the 4th and agreed to cooperate in the defense industry sector of Saudi Arabia's national development strategy, 'Vision 2030.'

Kim Dong-kwan, Vice Chairman of Hanwha Group (right), discussed cooperation plans in the security and economic sectors of Saudi Arabia's national development strategy 'Vision 2030' with Abdullah bin Bandar Al Saud, Minister of National Defense of Saudi Arabia, on the 4th. (Provided by Hanwha Group)

Vice Chairman Kim developed a practical cooperative relationship based on mutual trust after first meeting Minister Abdullah as part of the Korean government economic delegation in October last year.

On this day, Hanwha revealed plans to contribute to security and economic sectors through localization, joint development, and MRO (Maintenance, Repair, and Overhaul) based on advanced solutions to the National Defense Ministry. Saudi Arabia aims to localize more than 50% of its defense industry, which had been dependent on imports, as part of 'Vision 2030.'

Minister Abdullah said, "Saudi Arabia and South Korea's Hanwha hope to maintain a long-term strategic relationship," adding, "Through mutual cooperation, we hope to serve as a defense industry hub not only in Saudi Arabia but also in the Middle East and Africa regions."

Vice Chairman Kim stated, "The cooperation between Saudi Arabia's National Defense Ministry and Hanwha is an opportunity to further solidify the future-oriented partnership for economic and security cooperation jointly adopted by Saudi Arabia and Korea in 2024," and added, "We will do our best to contribute to Saudi national strategy and peace in the Middle East region."

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