South Korea's Hanwha expands weapons portfolio as Ukraine and Iran wars boost demand
Fast facts
- Category: Asia
- Language: EN
- Published: 2026-05-02 00:02 UTC
- Sources: Nikkei Asia
Hanwha Group is rapidly building an arms empire, capitalising on heightened defence spending prompted by the wars in Ukraine and Iran. The conglomerate has secured new contracts for missiles, drones and artillery systems, positioning itself as a key supplier to both domestic and allied forces. Analysts warn that such growth may deepen South Korea’s reliance on the global conflict‑driven defence market.