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THE INVESTOR
February 25, 2024

Market Now

Hanwha Aerospace seeks arms exports to Romania

  • PUBLISHED :February 08, 2023 - 09:06
  • UPDATED :February 08, 2023 - 09:06
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Son Jae-il, CEO of Hanwha Aerospace (front left), and Florentina Micu, director of ROMARM, shake hands after signing a memorandum of understanding in Bucharest, Romania, Monday. (Hanwha Aerospace)

South Korean aircraft engine producer Hanwha Aerospace announced Tuesday that it has recently signed a memorandum of understanding with ROMARM, Romania’s state-run defense company, to join the European country's military modernization and performance enhancement projects.

Hanwha said it aims to further expand its presence in Europe where it is securing a footing by exporting K9 self-propelled howitzers to nine countries in the region, including a deal worth 3.2 trillion won ($2.55 billion) with Poland.

Under the agreement signed Monday, the two companies will cooperate in supplying, utilizing, and maintaining Hanwha Aerospace weapons systems such as the K9 self-propelled howitzers and the Redback Infantry Fighting Vehicle.

Romania, a member of North Atlantic Treaty Organization and a country bordering Ukraine, has recently been pushing for military modernization projects while increasing its defense budget.

In particular, ROMARM said it is interested in introducing Korean-made weapons systems whose competitiveness has already been verified in replacing aging armored vehicles and towed guns.

Hanwha said senior Romanian defense officials have already visited Korea three times in recent months to seek possible cooperation between the two governments, including a tour to Hanwha Aerospace’s Changwon plant.

"If the MOU leads to future exports, the K9 self-propelled gun will be proven as a world-class weapons system adopted by 10 countries around the world,” said Son Jae-il, CEO of Hanwha Aerospace. "We will expand our business not only in Romania, but also in Europe overall based on our trust with Poland."

By Kim So-yeon (sera13@heraldcorp.com)

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