Hanwha
South Korean defence and industrial conglomerate; world's top K9 howitzer exporter and a major LAMD and Cheongung-III prime.
Last refreshed: 21 May 2026 · Appears in 1 active topic
Does losing the Cheongung-III ECS to LIG Nex1 matter when Hanwha is shipping K9 howitzers across three continents?
Timeline for Hanwha
Mentioned in: South Korea pulls Iron Dome forward to 2029
Drones: Industry & Defence- What defence products does Hanwha make and where are they used?
- Hanwha Aerospace makes the K9 Thunder howitzer (52% global market share), Cheongung SAM radar/launcher, and propulsion systems. Hanwha Systems makes radar and C4I. K9 is in service across Poland, Finland, Australia, India, Romania, and others.Source: Hanwha newsroom, Army Recognition
- How much money does Hanwha Aerospace make from defence exports?
- Hanwha Aerospace posted ₩26.61 trillion revenue in 2025; its ground weapons division alone earned ₩8.13 trillion. Cumulative K9 howitzer exports surpassed ₩14 trillion by April 2026.Source: Seoul Economic Daily, Hanwha newsroom
- Why did Hanwha lose the Cheongung-III contract to LIG Nex1?
- Hanwha scored 0.1 evaluation points below LIG Nex1 in the DAPA assessment for the engagement control system contract. Hanwha retains radar and launcher development roles, the same responsibilities it held on the current-generation Cheongung-II.Source: KED Global
Background
Hanwha is South Korea's largest defence-industrial conglomerate, operating through two primary defence subsidiaries: Hanwha Aerospace (ground weapons and propulsion) and Hanwha Systems (radar, electronics, and C4I). In the May 2026 Korean procurement round, Hanwha lost the Cheongung-III engagement control system contract to LIG Nex1 by 0.1 evaluation points, but retained the radar and launcher development roles it held on Cheongung-II. Hanwha Systems separately holds a ₩131.5 billion sub-contract on the LAMD Korean Iron Dome programme to develop the multifunction radar, with a completion deadline of November 2028.
Hanwha Aerospace posted record revenue of ₩26.61 trillion (~$18.2 billion) in 2025, driven in large part by K9 Thunder self-propelled howitzer exports. The K9 holds a 52% global market share among 155mm self-propelled howitzers, with more than 1,560 units operated across more than ten countries including Poland, Finland, Australia, India, and Romania. Cumulative K9 export value surpassed ₩14 trillion in April 2026. The ground weapons division alone generated ₩8.13 trillion revenue in 2025, with operating profit exceeding ₩2 trillion for the first time.
Hanwha is one of the key actors in any Korean defence-industrial, Korean Peninsula security, or global artillery-market topic. Its combination of missile systems, howitzers, and radar makes it a diversified prime unlike any other Korean company. The Cheongung-III loss to LIG Nex1 narrows but does not eliminate its SAM footprint, given the retained radar/launcher role and continued LAMD prime status.
