April 25, 2024

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[THE INVESTOR] Hanwha Systems, a Korean solution provider for defense electronics, said on Dec. 29 that it has inked a deal worth 461.6 billion (US$432 million) with the country’s arms procurement agency to set up a tactical information communication network.

The company said the next generation communication system offers advanced mobility and multimedia capabilities to guarantee integrated command and control in the network-centric environment.

The contract is equivalent to 13.12 percent of the company’s revenue in 2016.

Hanwha Systems is a wholly owned subsidiary of Hanwha Techwin.

Korea’s Hanwha Group took over Samsung Techwin in 2014 and renamed it Hanwha Techwin.

By Alex Lee and newswires (alexlee@heraldcorp.com)