Company
Hanwha Aerospace (012450.KS) is a South Korean defense and aerospace manufacturer making armored vehicles, artillery, engines, and missile systems.
KOSPI rose 2.05% to 5,668.05 on Friday, ending a seven-day losing streak. Samsung Electronics and SK hynix, which fell 9.48% and 11.06% the session before, are still about 7% and 10% below their earlier closes.
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Kospi opened up 1.8% on Friday after a 7.57% plunge to 5,554.22 that Yonhap tied to AI-trade worries and US inflation. The chip names trailed the index while banks and defense led, so the early rebound does not show the AI worry has eased.
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Hanwha Aerospace delivered the first wheeled K9 howitzer prototype to the US Army, which named it XM1776 after a contract signed in August. The Army drops the X and calls it the M1776 once it clears testing.
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Hanwha's Philly Shipyard has no orders beyond its owner's except three Matson container ships, the WSJ reported, despite a $5 billion investment pledge. The centerpiece of Korea's $150 billion MASGA pledge has posted operating losses for six straight quarters.
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SeAH Besteel's U.S. unit will start commercial production at its $110 million Texas superalloy plant in the first half of next year. It is betting that engine makers stuck in year-long queues at incumbent suppliers will qualify a newcomer, though no SpaceX order for the plant has been confirmed.
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Hanwha Defense USA will build the Army's next wheeled howitzer on Czech group CSG's Tatra chassis under a $262 million, 18-prototype contract. Its owned U.S. capital is going to shipyards, and the howitzer footprint stays small until the Army decides on full-rate production.
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South Korea's KOSPI fell 2.62% to 6,625.93 on Oct. 8, its third straight loss. Samsung Electronics posted 107 trillion won of third-quarter operating profit, Seoul Economic Daily reported, yet about 96.6 trillion won of foreign net selling since June has left the index trailing Taiwan's.
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Korea's Nuri rocket placed 15 satellites at about 575 km on its fifth flight, five of them the first home-launched NEONSAT Earth-observation microsatellites. The other half of the 10-satellite constellation, and the coverage it was designed for, waits on a sixth flight next year.
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South Korea named Changwon a national aircraft-engine hub backed by a 773.1 billion won plan to lift core-part localization from 22% to 90% by 2035. Orders for local parts makers still depend on a national engine program whose main phase is due to launch in 2028.
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Korea's arms procurement agency says Hanwha, now KAI's second-largest shareholder, faces a full merger review if it puts directors on the board. That puts the deal's regulatory cost on the step from shareholder to controller.
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At its Changwon plant Hanwha Aerospace signed cooperation memorandums with 43 domestic suppliers and set a target of more than 70% Korean content on the Mojave STOL it is developing with GA-ASI. No one has ordered the aircraft yet.
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Seoul plans to pick one of two bidders in October for a domestically built long-range air-to-air missile that will not reach the KF-21 until the late 2030s. The winner takes the seeker and ramjet work with it.
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Hanwha and Lockheed Martin UK swapped the Redback's 30mm cannon for a CTA International 40mm and put an air defence command system inside the turret, and the two firms say they are pursuing NATO and allied customers.
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Capital is arriving ahead of orders. The equity going into Hanwha Defense USA is roughly 1.5 times the prototype howitzer contract it follows, and about 1.3 times everything invested there before.
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The KOSPI closed up 0.88% on the 21st while the KOSDAQ fell 4.63%. That gap is not risk appetite. It is two chip names promising to hand cash back.
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