Hanwha firms up Korea defence ambitions

The Korean conglomerate is set to pay $256 million for the remaining 50% stake in Hanwha Thales, a military equipment joint venture established with France's Thales.
Hanwha Thales supplies communication and surveillance systems to the South Korean Air Force
Hanwha Thales supplies communication and surveillance systems to the South Korean Air Force

Hanwha Group is set to further solidify its leading position as South Korea’s defence powerhouse by acquiring the remaining 50% stake in its military equipment joint venture with France’s Thales Group.

Paris-headquartered Thales said in a statement Wednesday that it will exercise a put option to sell its 50% interest in Hanwha Thales to Hanwha Group for W288 billion $256 million, marking the end of its 16 year-presence in Korea.

Thales entered the Korean market in 2000 through a 5050 joint venture with Samsung, which was then known as Samsung Thales. Samsung’s stake in the JV was subsequently acquired by Hanwha as part of...

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