Hanwha Aerospace drops plan to acquire Poongsan's defence unit
Hanwha Aerospace logo is seen in this illustration taken July 26, 2025. REUTERS/Dado Ruvic/Illustration
SEOUL, April 9 : South Korea's Hanwha Aerospace said in a regulatory filing on Thursday it has discontinued a review of whether to acquire Poongsan's defence business unit.
Hanwha, which has emerged as South Korea's leading defence firm, was reported to have been considering the acquisition of Poongsan's ammunition manufacturing division.
Poongsan, which specializes in copper products, said in a separate filing on Thursday it was not pursuing the sale of its ammunition manufacturing business, denying a media report on a 1.5 trillion won ($1 billion) sale plan.
($1 = 1,481.3500 won)
Source: Reuters
