Home > Business > Industry

Hanwha Aerospace signs $1.67M rocket systems deal with Poland

Published: 25 Apr. 2024, 17:16

SARAH CHEA
[email protected]

Hanwha Aerospace CEO Son Jae-il, left, and Artur Kuptel, chief of the Polish Armament Agency, shake hands after the contract signing on April 25 at the defense production plant in Changwon, South Gyeongsang. [HANWHA AEROSPACE]

Hanwha Aerospace said Thursday it has signed a 2.3 trillion won ($1.67 billion) deal to supply 72 Chunmoo multiple launch rocket systems (MLRS) to Poland by 2029.

The latest deal is a follow-up to the Polish government's plan to buy 290 units of MLRS. The Eastern European country purchased 5 trillion won in MLRS units, totaling 218, in late 2022, with the delivery scheduled by 2026.

This is the first weapons sales deal signed with the new Polish government, which came into office in December 2023.

But financial contracts involving state-run lenders in both countries still need to be signed by November in order to finalize the deal, the company said in a statement.

"This contract signifies our dedication to supporting the enhancement of security in Poland and the region, irrespective of political and societal changes. Hanwha Aerospace is proud of our ongoing dedication to delivering deterrence solutions to regions with urgent demands,” said Son Jae-il, president and CEO of Hanwha Aerospace, in a release Thursday.

The MLRS is one of the Korean weapons systems Poland bought to bolster its defenses in the wake of the Russia-Ukraine war.

In 2022, Poland signed procurement deals worth 17 trillion won to buy K2 tanks, K9 self-propelled howitzers, FA-50 light attack aircraft and Chunmoo MLRS, marking Korea's largest-ever arms sales abroad.

BY JIN EUN-SOO, YONHAP [[email protected]]