Latest news with #K10
Korea Herald
20-06-2025
- Business
- Korea Herald
K-defense surge: 5 stocks to know in 2 minutes
Korean defense companies have enjoyed a surge over the past year, scoring a series of mega-deals with foreign countries to export their defense systems. Below, we've covered the basics of the five major players — Hanwha Aerospace, Hyundai Rotem, LIG Nex1, Korea Aerospace Industries and Poongsan — by order of market capitalization as of June 20, 2025. Hanwha Aerospace Specializes in the development, manufacturing and maintenance of aerospace engines and land defense solutions featuring artillery systems, armored vehicles and air defense systems The K9 Thunder 155 mm self-propelled howitzer, which is currently used in 10 countries (Korea, Turkey, Poland, India, Finland, Norway, Estonia, Australia, Egypt and Romania) headlines Hanwha Aerospace's defense products along with the K10 ammunition resupply vehicle and Chunmoo Multiple Rocket Launcher System. Stock price increased from 248,000 won ($181) per share on June 20, 2024, to 939,000 won on June 20, 2025, to reach a market capitalization of 44.5 trillion won as the No. 5 stock on Kospi Hyundai Rotem Manufacturer of railway systems, plant equipment and defense solutions As Korea's sole tank manufacturer, Hyundai Rotem produces the K2 Black Panther tank used by Korea and Poland, as well as armored vehicles and uncrewed ground vehicles. Stock price increased from 40,150 won per share on June 20, 2024, to 212,000 won on June 20, 2025, to reach a market capitalization of 23.2 trillion won as the No. 22 stock on Kospi LIG Nex1 Major defense contractor of Korean military boasting a comprehensive product range that covers land, sea and air defense with a focus on precision-guided munitions Led by the Cheongung II, a medium-range surface-to-air missile that has been exported to the United Arab Emirates, Saudi Arabia and Iraq, LIG Nex1 has exported its missile systems to 11 countries and aims to expand the list to 30 by 2030. Stock price increased from 213,000 won per share on June 20, 2024, to 608,000 won on June 20, 2025, to reach a market capitalization of 13.5 trillion won as the No. 41 stock on Kospi Korea Aerospace Industries Only integrated aerospace manufacturer in Korea capable of developing and producing fixed-wing aircraft, helicopters and uncrewed aerial vehicles while supplying parts to other global aerospace firms such as Boeing and Airbus With over 1,300 aircraft produced, KAI has exported 224 of them, and the FA-50 light combat fighter jet has been delivered to Indonesia, the Philippines, Iraq and Poland. Stock price increased from 52,800 won per share on June 20, 2024, to 95,000 won on June 20, 2025, to reach a market capitalization of 9.4 trillion won as the No. 56 stock on Kospi Poongsan
Yahoo
04-04-2025
- Business
- Yahoo
Norway to nearly double its K9 howitzer fleet for around $534 million
PARIS — Norway plans to nearly double its fleet of self-propelled artillery, proposing to buy an additional 24 K9 Thunder howitzers from Hanwha Aerospace for a budget of 5.65 billion Norwegian kroner, or $534 million. The 155 mm howitzers will equip a new artillery battalion within the planned Finnmark brigade being set up to bolster Norway's defenses in the high north, according to a government proposal published on Friday. The purchase plan is part of 17 billion kroner in proposed spending that also includes more sea mine-clearing capability, new military trucks and spending on facilities. Norway already has 28 tracked K9 howitzers as well as 14 K10 ammunition resupply vehicles, and will exercise an option in its contract with Hanwha for the additional purchase, the government said. The spending plan still needs to be approved by the Norwegian parliament, the Storting. 'We are in a serious security policy situation,' Minister of Defence Tore Sandvik said. 'Therefore, we will now ask the Storting to approve significant investments in various parts of the Armed Forces to strengthen Norway's defense capability, in line with the ambitions of the long-term plan presented last year.' The Norwegian government in October last year proposed to raise the country's 2025 defense budget by 19.2 billion kroner to 110.1 billion kroner. The budget for the additional howitzers includes the guns as well as spare parts, according to the spending proposal. The acquisition of additional artillery pieces 'will contribute to significantly strengthening the Army's firepower,' the government said. The extra howitzers increase the total budget for the Norwegian 155 mm artillery project to 11.1 billion kroner, according to the government proposal. Other K9 operators in the Baltic region are Poland, Finland and Estonia. The government also plans to spend an additional 3.9 billion kroner on maritime mine countermeasures, increasing the total budget for that project to 8.74 billion kroner. The plan for the Norwegian Navy's future mine-clearing capability, first approved in 2023, will include unmanned and autonomous systems. The previously approved mine countermeasures capability was assessed as too small in relation to the operational needs of a new security situation, according to the government. Expanding the scope of the project will ensure sufficient resources to safeguard 'freedom of movement in Norwegian waters even in a crisis or war,' the government said. 'This will help to ensure that our own vessels and allies can sail safely and freely in Norwegian waters,' Sandvik said. 'In addition, it can help to secure critical underwater infrastructure.'
