Hanwha Aerospace halts review of Poongsan's ammunition unit acquisition

Hanwha Aerospace Co., South Korea's leading defense systems manufacturer, said Thursday it has halted its review of acquiring the ammunition business of Poongsan Corp. In a regulatory filing, Hanwha Aerospace said it has been continuously exploring various business opportunities, including Poongsan's ammunition division, to strengthen its defense capabilities and enhance corporate value, but has decided to stop its review of acquiring Poongsan's business. The disclosure came after a local media

By The Korea Herald