What Happened
South Korean Defense Giant Expands Global Footprint
Hanwha Aerospace, a leading South Korean space, aviation, and defense systems company, has invested $2.2 billion in a new munitions manufacturing campus in Arkansas. The campus will produce 155 mm propellant charges and base bleed units, and will create hundreds of jobs over seven years. Hanwha Defense USA, a subsidiary of Hanwha Aerospace, has also signed a contract to supply the US Army with K9 wheeled self-propelled howitzer prototypes. The deal is valued at approximately $103 million, with options that could potentially bring the total to $263 million. This development was reported by Unknown Source.