Hanwha Aerospace said in an audit report on the 16th that it bought 4,864,000 KAI common shares, equal to 4.99%. The company purchased 3,236,635 shares last year and added 1,627,365 shares in the first quarter this year.
Hanwha Systems previously said in a business report filed on the 13th that it bought 566,635 KAI common shares — 0.58% of the company’s total shares — for 59.9 billion won in November last year.
Hanwha framed the additional purchase as aimed at potential synergy between the companies. Hanwha and KAI work together on programs including South Korea’s KF-21 fighter project: KAI builds the aircraft and Hanwha Aerospace produces the engines used in the jets. The companies also compete in bidding for a space project involving a small-satellite system.
A Hanwha Aerospace official said the company expects to expand “mutual synergy” tied to defense exports and said it also expects the move to contribute to cooperation with partner firms and job creation in South Gyeongsang Province, where both companies have bases.
* This article has been translated by AI.
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