Latest news with #HanwhaSystems
IOL News
2 days ago
- Business
- IOL News
SA defence company Milkor signs MoU with South Korea's Hanwha Systems to integrate radar tech into drone
The Milkor 380 is the latest solution for Unmanned Aerial Systems, and the largest UAV ever to be developed, tested, and manufactured in Africa. Image: Armand Hough / Independent Newspapers South African defence company Milkor, a prominent manufacturer of unmanned aerial vehicles (UAVs), has signed a Memorandum of Understanding (MoU) with a leading South Korean defence technology company, Hanwha Systems, to deliver a fully integrated, export-ready surveillance and reconnaissance capability to both regional and international markets. The MOU, signed at the 2025 Paris Air Show, will see Hanwha Systems integrate their Active Electronically Scanned Array (AESA) Synthetic Aperture Radar (SAR) system onboard the Milkor 380. The MoU was signed by Julian Coetzee, CEO of Milkor UAE, and Hyuck Park, Senior Vice President of Hanwha Systems' Defence Electronics Business Division. CEO of Milkor UAE, Julian Coetzee, said: 'This partnership brings together two highly capable organisations that complement one another.' 'We are looking forward to our continued collaborative efforts with Hanwha. By combining our resources and expertise, we believe we can create great opportunities, not just in the Middle East but across international markets.' The Milkor 380 is a multi-role UAV designed for Intelligence, Surveillance, Reconnaissance (ISR), and precision strike missions. It boasts over 35 hours of endurance, a payload capacity exceeding 220kg, and a range greater than 4,000 km. The platform features multiple hardpoints, SATCOM capabilities, and a modular open systems architecture, making it highly adaptable for a wide range of mission profiles. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Milkor's communications director, Daniel du Plessis, said: 'As a proudly South African defence company, Milkor is constantly seeking ways to ensure that our capabilities remain market relevant and offer a complete solution to our clients. 'This includes collaboration with world-leading companies, like Hanwha Systems, which offer advanced systems in radar surveillance capabilities. 'In the South African context, the Milkor 380 UAV offers substantial benefits to the economy, job creation and retention of critical skills within the defence industry,' Du Plessis said. 'Collaboration with reputable companies globally not only speaks volumes of the capabilities still within the South African defence industry but creates additional opportunities to market these capabilities on a global stage.' Head of Business Development: Africa, Daniel du Plessis, explained that they are moving away from a development phase, and transitioning into scaling their industrialisation efforts. Image: Armand Hough / Independent Newspapers
Korea Herald
23-06-2025
- Business
- Korea Herald
Hanwha teams up with Northrop Grumman for next-gen air defense
Hanwha Systems has partnered with Northrop Grumman, a US-headquartered aerospace and defense technology powerhouse, to join forces in developing next-generation integrated air and missile defense, or IAMD, systems, the Korean company said Monday. According to a memorandum of understanding, the two sides will discuss core technologies related to integrated air defense command and control and explore new business opportunities in Korea and overseas. 'Hanwha is undergoing a bold transformation to become a leading global defense company,' said Park Sung-kyun, vice president and business director of the defense electronics division at Hanwha Systems. 'Our partnership (with Northrop Grumman) reflects our ambition to lead the development of next-generation weapons systems and strengthen our position in the global market.' Northrop Grumman is the developer of the integrated battle command system, or IBCS, a cutting-edge command and control system designed to integrate various sensors and interceptors across the air, land and sea. The IBCS, which is currently used by the US Army, has been undergoing evaluation for expansion into Europe and other areas as it enables seamless data sharing and optimized threat engagement across diverse weapon systems. Hanwha Systems and Northrop Grumman plan to bring together their respective strengths in radar and battle management technologies for more advanced and resilient air defense solutions. 'This MOU with Hanwha demonstrates our strong desire to collaborate with Korean industry in exploring opportunities to provide innovative and cost-effective air and missile defense solutions that enhance Korean homeland defense,' said Kenn Todorov, vice president and general manager of command and control and weapons integration at Northrop Grumman.
Korea Herald
23-06-2025
- Business
- Korea Herald
Hanwha Systems signs MOU with Northrop Grumman for collaboration on air defense systems
Hanwha Systems Co., a defense solutions unit under South Korea's Hanwha Group, said Monday it has signed a memorandum of understanding with US defense giant Northrop Grumman Corp. to jointly advance integrated air defense systems. The agreement focuses on enhancing technological collaboration in air defense command and control systems and exploring new business opportunities in Korea, according to Hanwha Systems. Northrop Grumman is the developer of the Integrated Air and Missile Defense Battle Command System, regarded as one of the most advanced air defense command and control platforms in the world. IBCS integrates radar and interceptor systems across land, sea and air to build a dense and flexible air defense network, enabling coordinated responses to a range of threats. It is currently being deployed by the US Army and evaluated for expansion in Europe and other regions. Hanwha Systems emphasized that the partnership will combine Northrop Grumman's expertise in air defense technologies with its own advanced command and control capabilities, such as the Korea Air and Missile Defense Operations Center, for more advanced air defense solutions. The partnership will also play a pivotal role in helping Hanwha Systems develop next-generation air defense solutions, further bolstering its capabilities in the global defense market, the company added. "Hanwha is undergoing a bold transformation to become a leading global defense company," said Park Sung-kyun, vice president and business director of the defense electronics division at Hanwha Systems. "Our partnership reflects our ambition to lead the development of next-generation weapon systems and strengthen our position in the global market."(Yonhap)
Korea Herald
16-06-2025
- Business
- Korea Herald
Korean defense stocks jump on Israel-Iran conflict
Shares of South Korean arms makers rose sharply after Israel's attack on Iran, buoyed by the outlook that their exports could increase, even propelling the benchmark stock index Kospi to reach its over three-year high. Hanwha Systems, a major defense affiliate of Hanwha Group, closed daytime trading at 64,200 won ($47), up 18 percent from the previous session. Earlier in the day, the stock surged as high as 65,000 won, hitting the highest level since its listing on the Kospi in November 2019. Other major defense stocks also showed strong performances, with LIG Nex1 rising 5.32 percent, Hyundai Rotem gaining 6.32 percent and Hanwha Aerospace climbing 2.65 percent. Shares of each of the companies posted a fresh high. Amid escalating geopolitical tensions in the Middle East, expectations are rising for increased exports by Korean defense companies, partly due to their rivalry with Israeli firms in the arms sector. Israel may impose restrictions on defense exports to maintain its military capabilities, potentially allowing Korean firms to emerge as alternative suppliers. "In the past, Israel suspended a shipment of Merkava tanks to Morocco during a conflict with Hamas militants. With Israel likely to prioritize securing its domestic stock of air defense systems and strategic assets, a similar scenario could unfold. This could present short-term export opportunities for Korean defense companies," said Jung Dong-ik, an analyst at KB Securities. The buoyant defense shares even lifted the Kospi, outweighing concerns that Middle East tensions could pressure the Korean stock market with geopolitical risks. After opening at 2,903.50, the Kospi dropped as low as 2,886.13 in the early hours, but soon turned to a gain and recovered by closing at 2,946.66, up 52.04 points, or 1.8 percent from the previous session. It was the first time the Kospi surpassed the 2,940-point threshold as of daytime closing since January 2022. Retail investors and institutions were the net buyers, scooping up shares worth 45.5 billion won and 252.4 billion won, respectively, while foreign investors dumped 322.4 billion won on the market. The government held a joint emergency meeting, agreeing to maintain a 24-hour monitoring system on the financial markets. "If market volatility becomes excessive and diverges from the fundamentals of the Korean economy, the government will take swift and bold action under its contingency plans,' a statement released by the Finance Ministry said.
Korea Herald
16-06-2025
- Business
- Korea Herald
Defense stocks soar on Israel-Iran tension
Shares of South Korean arms makers rose sharply after Israel's attack on Iran, buoyed by the outlook that their exports could increase. Hanwha Systems, a major defense affiliate of Hanwha Group, traded at 63,800 won ($47) as of 2 p.m., up 17.46 percent from the previous session. Earlier in the day, the stock surged as high as 65,000 won, hitting the highest level since its listing on the Kospi in November 2019. Other major defense stocks also showed strong performances, with LIG Nex1 rising 4.75 percent, Hyundai Rotem gaining 5.3 percent, and Hanwha Aerospace climbing 2.33 percent as of 2 p.m. Shares of each of the companies posted a fresh high during intraday trading. Amid escalating geopolitical tensions in the Middle East, expectations are rising for increased exports by Korean defense companies partly due to their rivalry with Israeli firms in the arms sector. Israel may impose restrictions on defense exports to maintain its military capabilities, potentially allowing Korean firms to emerge as alternative suppliers. "In the past, Israel suspended a shipment of Merkava tanks to Morocco during a conflict with Hamas militants. With Israel likely to prioritize securing its domestic stock of air defense systems and strategic assets, a similar scenario could unfold. This could present short-term export opportunities for Korean defense companies," said Jung Dong-ik, an analyst at KB Securities. Despite concerns that Middle East tensions could pressure on the Korean stock market due to geopolitical risks to the country's export-dependent economy, the benchmark Kospi had remained largely flat on Monday as of press time. After opening at 2,903.50, it dropped as low as 2,886.13 in the early hours, but recovered to an intraday high of 2,926.89, up 1.11 percent on-session as of 2 p.m. Retail investors were the only net buyers, scooping up shares worth 224.6 billion won, while foreign investors and institutions dumped 224 billion won and 7.3 billion won, respectively. In the morning, the government held a joint emergency meeting, agreeing to maintain a 24-hour monitoring system on the financial markets. "If market volatility becomes excessive and diverges from the fundamentals of the Korean economy, the government will take swift and bold action under its contingency plans,' a statement released by the Finance Ministry said.
