Hanwha Aerospace, South Korea¡¯s leading defense contractor, has been making ground weapons for almost 50 years and never stopped, even as overseas rivals moved on to sixth-generation fighter jets and unmanned drones. Until recently, military analysts saw Hanwha as a relic, its products insufficient for 21st century warfare.
The war in Ukraine, fought almost entirely on the ground, has proved them wrong.
In the two years since Russia¡¯s invasion, Hanwha¡¯s annual export revenue from weaponry grew elevenfold to $1.1 billion; it now makes up 26% of the company¡¯s total arms sales. Shares are up about 350%.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.