Hanwha Aerospace terminated UAM component deals worth US$318 million with UK's Vertical Aerospace due to changed market conditions and project direction, despite fulfilling obligations. The companies signed an MOU to continue partnership.
Hanwha Aerospace will acquire an additional 3.38 million shares in Korea Aerospace Industries (KAI) for 500 billion won ($331.3 million), increasing its stake to 10%. The deal aims to strengthen business cooperation and build an integrated aerospace and defense ecosystem.
Hanwha Aerospace has established an independent committee of 11 external safety experts and two labor union representatives to oversee its safety system following a fatal factory fire that killed five people. The company also announced significant investment increases for workplace safety improvements.
Hanwha Aerospace will suspend operations at all nine of its production facilities nationwide for two days starting Thursday, following a deadly explosion at its Daejeon plant that killed five people. The company is conducting special safety inspections, prioritizing a safe working environment over temporary production disruptions.
Hanwha Aerospace will suspend operations at all nine of its production facilities nationwide for two days following a deadly explosion at its Daejeon plant that killed five people. The company is conducting special safety inspections, prioritizing a safe working environment over temporary production disruptions.
Hanwha Aerospace has partially suspended production at its Daejeon facility following a deadly explosion that killed five and injured two. Labor authorities ordered the halt due to a serious workplace accident, with investigations focusing on the ignition source and flammable materials.
Hanwha Aerospace partners with Milrem Robotics to enter Romania's unmanned ground vehicle market, planning local production and supply chain expansion in Europe.
Hanwha Aerospace reported a 20.6% YoY rise in Q1 operating profit to 638.9 billion won, beating analyst expectations of 395.2 billion won. Net income surged 187.5% to 525.9 billion won on 4.9% revenue growth to 5.75 trillion won. The aerospace division saw sixfold profit growth, while Hanwha Ocean's operating profit rose 71%. Order backlog hit a record 39.7 trillion won, driven by Norway's Chunmoo rocket launcher deal.
