Hana's Smart squad takes off
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Korea Herald
5 days ago
- Korea Herald
Hanwha Aerospace posts record Q2 earning on defense, shipbuilding boom
Korea's leading defense contractor Hanwha Aerospace on Thursday reported a record-high second-quarter revenue of 6.27 trillion won ($4.5 billion), marking a 169 percent increase compared to the same period last year. Operating profit also surged 156 percent on-year to 864.4 billion won. 'The second quarter saw strong growth, driven by robust performance in the land defense sector and stable results from Hanwha Ocean,' a company official said. 'In the second half, we plan to expand our order book, with a focus on the Middle East and Europe while also advancing future growth engines following the successful fourth launch of the Nuri rocket.' The land defense division posted 1.77 trillion won in revenue and 554.3 billion won in operating profit, up 43 percent and 113 percent on-year, respectively. The company attributed the sharp profit increase to a combination of customer-requested delays in recognizing certain development and sales costs until the second half, and faster-than-expected production and delivery of Chunmoo, the self-propelled multiple rocket launch system, to Poland. With 51 units delivered in the first half alone, Hanwha Aerospace raised its full-year delivery guidance from 50 to 80 units. Its shipbuilding subsidiary Hanwha Ocean also contributed significantly, reporting 3.29 trillion won in revenue and 371.7 billion won in profit, led by strong demand for high-value liquefied natural gas carriers. Separately, the company is exploring an initial entry into the US ammunition market, potentially using part of the 4.2 trillion won it secured through a recent rights offering. However, it remains unclear whether this would be included in the Korean government's $350 billion investment pledge to the US, announced as part of a tariff agreement on the same day, the company said. Hanwha Aerospace added that it expects to be less impacted by the US tariff policy than other sectors like automobiles or steel, as much of the defense value chain is linked to countries such as the United Kingdom rather than directly to the US. forestjs@
![[팟캐스트] (710) 한국 체류 외국인, 역대 최고치 273만 명 기록](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F07%2F28%2Fnews-p.v1.20250728.bfb6a831120e444aaf01cf60b681f8c3_T1.jpg&w=3840&q=100)
Korea Herald
5 days ago
- Korea Herald
[팟캐스트] (710) 한국 체류 외국인, 역대 최고치 273만 명 기록
진행자: 간형우, Devin Whiting S. Korea's foreign population reaches all-time high of 2.73 million 기사 요약: 국내 체류 외국인 수가 역대 최대치를 기록한 가운데, 그중 3명 중 1명은 중국인인 것으로 나타났다. [1] South Korea's foreign population has reached an all-time high of more than 2.73 million, data showed Sunday. reach: 도달하다 all-time high: 역대 최고 [2] Of the total, some 1.55 million were long-term foreign residents staying 90 days or more, who registered personal information such as name, date of birth and purpose of stay with local immigration offices. long-term: 장기적인 resident: 거주자 [3] Another 552,000 of the total foreign resident population were overseas Koreans holding F-4 visas, who established a place of residence and reported it to their local immigration office, entitling them to rights similar to those of Korean citizens, such as opening bank accounts and enrolling in the national health insurance program. overseas: 해외의 entitle: 자격을 주다 enroll: 명부에 올리다, 등록하다 [4] The largest share of foreign residents was held by Chinese nationals with 972,176, accounting for 35.6 percent of the total. They were followed by Vietnamese (341,153), Americans (196,664), Thais (173,710) and Uzbeks (98,457). share: 지분 hwkan@
Korea Herald
6 days ago
- Korea Herald
Peru marks Independence Day, highlights defense and APEC ties with Korea
Peruvian Ambassador Paul Duclos highlighted Peru's ties with South Korea in the field of defense and underscored the roles the two countries could play as members of the Asia-Pacific Economic Cooperation forum as officials in Seoul marked the Latin American country's 204th Independence Day on Tuesday. Peru's Independence Day, which falls on July 28, commemorates the country's declaration of independence from Spain in 1821, after nearly 300 years of colonial rule that began in 1532. Speaking at the event, Duclos said that Peru-Korea ties are particularly strengthened by expanding defense and security cooperation, highlighting 'agreements for the modernization of a shipyard at the port of Callao, the co-production of naval vessels and armored vehicles, and Peru's integration into the value chain for the manufacturing of military aircraft — sectors with high development potential in the years to come.' Duclos cited the signing of the Korea-Peru Free Trade Agreement in 2011 and the establishment of a comprehensive strategic partnership in 2012 as the solid foundation upon which the bilateral relationship continues to deepen. Korea is currently Peru's fifth-largest export market, he noted. Duclos also mentioned Peru's recent term as chair of APEC, noting the smooth transfer of the APEC chairmanship from Peru to Korea during the 2024 APEC Leaders' Summit in Lima. He highlighted Peru's key achievement in restoring consensus among APEC's 21 member economies, resulting in over 20 agreements, including a notable roadmap to support micro-, small and medium-sized enterprises in transitioning to a formal and integrated economy. The envoy reaffirmed Peru's strong support for Korea's 2025 APEC chairmanship, expressing commitment to Korea's priorities and saying he looked forward to President Dina Boluarte attending the summit in Gyeongju this October. Meanwhile, Kim Hee-sang, vice minister for economic affairs at South Korea's Foreign Ministry, reaffirmed Korea's commitment to Peru, emphasizing the over-80-percent growth in bilateral trade since 2010 and noting Peru's three-time designation as a priority official development assistance partner. Kim also underlined close collaboration through APEC, expressing hope for deeper cooperation during Korea's APEC chairmanship in Gyeongju this October, under the theme 'Connectivity, Innovation, and Prosperity.' sanjaykumar@
