Hanwha Aerospace wins $3.9B Chunmoo missile deal with Poland

Dec. 30 (Asia Today) -- Hanwha Aerospace said Tuesday it has signed a third implementation contract worth 5.6 trillion won ($3.9 billion) to supply guided missiles for South Korea's Chunmoo multiple launch rocket system to Poland.

The company said it signed the deal Monday in Warsaw with Poland's Armaments Agency at the Warsaw Military Museum. The contract covers the CGR-080 guided missile, which Hanwha said has an 80-kilometer range.

Hanwha said the deal will be carried out through a consortium involving the company and Hanwha-WB Advanced Systems, a joint venture formed in October with Polish defense company WB Electronics. The missiles are to be produced at a dedicated facility to be built in Poland and delivered to the Polish armed forces, Hanwha said.

Presidential Chief of Staff Kang Hoon-sik attended the signing ceremony and said the project represents a model of defense cooperation in which the two countries establish a joint venture, build a factory in Poland and produce together.

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Hanwha previously signed a framework agreement with Poland in 2022 for Chunmoo launchers and guided missiles. It later signed a first implementation contract worth about 5 trillion won ($3.5 billion) in 2022 and a second implementation contract worth about 2 trillion won ($1.4 billion) in 2024, the company said.

The company said the latest contract comes as European nations push to prioritize purchases of European-made weapons through new funding programs, adding that local production and government-level outreach helped support the deal.

Hanwha Aerospace Chief Executive Officer Son Jae-il said the company appreciates what he described as full-scale national support and said it will work to ensure South Korea's defense exports contribute to strengthening the country's security.

Hanwha said it also recently won its first Chunmoo export deal in Estonia, valued at 440 billion won ($305 million).

-- Reported by Asia Today; translated by UPI

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