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Hanwha Aerospace halts review of Poongsan's ammunition unit acquisition

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By Yonhap
  • Published KST
Hanwha’s exhibition booth is shown during the Egypt Defense Expo (EDEX) 2025 in Cairo from Dec. 1 to 4, 2025. Courtesy of Hanwha Aerospace

Hanwha’s exhibition booth is shown during the Egypt Defense Expo (EDEX) 2025 in Cairo from Dec. 1 to 4, 2025. Courtesy of Hanwha Aerospace

Hanwha Aerospace, Korea's leading defense systems manufacturer, said Thursday it has halted its review of acquiring the ammunition business of Poongsan.

In a regulatory filing, Hanwha Aerospace said it has been continuously exploring various business opportunities, including Poongsan's ammunition division, to strengthen its defense capabilities and enhance corporate value, but has decided to stop its review of acquiring Poongsan's business.

The disclosure came after a local media last week suggested Hanwha was likely to acquire Poongsan's ammunition business as part of efforts to integrate its weapons and munitions operations. Poongsan is Korea's leading producer of copper alloy and ammunition.