South Korea's Hanwha Aerospace says a capital raise of around $2.5 billion will fund expansion abroad, such as in Europe where defense spending has increased.
Hanwha Aerospace says its ready to support the South Korean government when it decides how to pursue an indigenous engine program for the KF-21 fighter.
South Korea has contracted Hanwha Aerospace to mass produce a high-powered directed-energy weapon, which the country hopes to operationalize by year's end.
Hanwha Systems says it is moving away from working on multi-function radars in favor of developing multi-mission radars that can respond to diversified aerial threats.
The Republic of Korea Air Force and South Korea's Defense Acquisition Program Administration have confirmed that the L-SAM is on track to enter service in 2028.
Hanwha Systems has broken ground on its new Jeju Hanwha Space Center, a purpose-built South Korea facility for the manufacturing and testing of satellites.
Saudi Arabia will acquire 10 batteries of the KM-SAM Block II medium-range air defense system in a deal worth $3.2 billion, the South Korean Defense Ministry told media.