Hanwha Aerospace to buy additional KAI shares for 500 billion won
Hanwha Aerospace announced plans to acquire 3.38 million shares in Korea Aerospace Industries by year-end. The purchase will raise its stake to 10 percent and is valued at 500 billion won.
YonhapSouth Korean defense firm Hanwha Aerospace Co. said Tuesday it will acquire additional shares in Korea Aerospace Industries Ltd. in a transaction valued at 500 billion won. The purchase covers 3.38 million shares and will increase Hanwha Aerospace's ownership in KAI to 10 percent by the end of this year.
Deal purpose Hanwha Aerospace stated the acquisition aims to strengthen business cooperation with KAI, the manufacturer of KF-21 advanced fighter jets. KAI also produces FA-50 light attack jets and trainer variants, along with Surion and Miron helicopters.
The two companies already work together on the KF-21 program, with KAI as prime contractor and Hanwha supplying propulsion and defense technologies.
Aerospace has been increasing its stake in KAI to build an integrated aerospace and defense ecosystem covering aircraft, satellites, launch vehicles, and defense systems.
