Hanwha Aero signs second contract with Chunmu, Poland… 72 units, worth 2.2526 trillion won

Hanwha Aerospace (012450)announced on the 25th that it had signed a second execution contract with the Polish Armed Forces Agency for the export of 72 Cheonmu multiple rocket launchers. The contract amount is 2.2526 trillion won.

Hanwha Aerospace will supply 72 launchers and 80 km range guided missiles (CGR-80) and 290 km range guided missiles (CTM-290) by October 30, 2029. This contract will not take effect until a separate financial agreement is reached by the end of November this year with government support.

At the signing ceremony held at Hanwha Aerospace’s 3rd business site in Changwon-si, Gyeongsangnam-do on this day, Jae-il Son, CEO of Hanwha Aerospace, and Artur Kuptel, head of the Polish Armed Forces Agency, signed. On the Korean side, Changwon Mayor Hong Nam-pyo, Ministry of National Defense’s Power Resources Management Office Director Seong Il, Poland’s Deputy Minister of National Defense Paweu Weida, and Deputy Minister of State Property Marcin Kulasek also attended. Prior to this, the previous day, a guided missile shooting with a range of 290 km was successfully conducted from the Polish-type Cheonmu launcher at the Anheung Test Site of the Agency for Defense Development (ADD).

Through this contract, Hanwha Aerospace secured 152 K9 self-propelled howitzers and 72 Cheonmu units as the second contract in addition to the first execution contract (212 K9 self-propelled guns, 218 Cheonmu units). However, the second execution contract will take effect when a separate financial contract is concluded between the authorities by June and November of this year, respectively. Previously, the National Assembly passed an amendment to the Export-Import Bank Act in February to increase the limit on export financing support.

Son Jae-il, CEO of Hanwha Aerospace, said, “This second contract was concluded on the premise of financial support based on solid trust between our government and the new Polish government.” He added, “We will do our best to contribute to Poland’s security and ensure that the defense industry becomes a future source of growth for both countries.” “I will do my best,” he said.