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Iran has tightened its control over shipping in the Strait of Hormuz, stating it will not fully reopen the critical waterway while a US blockade remains in effect. This stance comes amidst ongoing US-Iran tensions, with experts warning of challenging months ahead as both sides test each other.
Kim Dong-won, president and son of Hanwha Group's chairman, is solidifying his position within the conglomerate's succession story by focusing on the finance sector. His role is becoming distinct from his brothers, who are involved in the group's industrial core.
Hanwha Group announced that its technology and lifestyle divisions are integrating joint technologies to enhance competitiveness under a newly formed holding company, following a board decision.
Hanwha Group is expanding business ties with Alberta, Canada, across energy, defense, and shipbuilding sectors, as it pursues Canada's next-generation submarine contract.
Hanwha Defense USA and Hanwha Philly Shipyard have secured their first US Navy project as a subcontractor to Vard Marine US, focusing on the Next Generation Logistics Ship Program to develop smaller, more agile vessels for refueling, rearming, and resupply, marking a significant entry into the American defense market.
Ever since Kim Dong-kwan formally debuted at Hanwha Group in 2010, his every move has been under watchful eyes. Industry analysts have long questioned whether the young heir is merely another silver-spoon scion or a leader capable of steering the 70-year-old defense-to-energy giant into its next chapter. Kim, the eldest son of Hanwha Group Chair Kim Seung-youn, spent the past 16 years beating back industry-wide cynicism through performance. Since stepping into a managerial role at Hanwha at age
South Korea's Hanwha Group has signed a Memorandum of Understanding with Canada's Alberta province. The agreement aims to expand cooperation in the energy and defense sectors.
Hanwha Group has acquired a 4.99 percent stake in Korea Aerospace Industries, Korea’s sole aircraft original equipment manufacturer, strengthening cooperation with the aerospace firm despite ongoing competition. According to a filing with the Financial Supervisory Service on Monday, Hanwha Aerospace and its subsidiaries acquired a combined 4.41 percent stake, while Hanwha Systems purchased an additional 0.58 percent, totaling 4.86 million shares. This is Hanwha’s first investment in KAI since Ha