As of April 2026, Hanwha Group’s defense affiliates are executing an unprecedented global expansion, targeting both Northern European and North American markets. The strategic alliance of Hanwha Aerospace, Hanwha Ocean, and Hanwha Systems has moved beyond mere hardware exports, adopting a “Total Solution” strategy that includes local job creation and technology transfer, solidifying Hanwha’s status as a top-tier global defense powerhouse.
1. Hanwha Aerospace: Finalizing a 941.3B KRW K9 Deal with Finland
On April 10, Hanwha Aerospace announced an export implementation agreement with the Finnish Ministry of Defence worth approximately 941.3 billion KRW (546 million EUR). This marks the third follow-on order since Finland’s initial procurement in 2017, making Finland the third NATO member—after Türkiye and Poland—to operate a fleet of over 200 K9 Self-Propelled Howitzers.
The core of this contract involves the delivery of 112 additional units and spare parts starting in 2028. The proven reliability of the K9 in extreme Northern European climates was decisive, providing a strong reference for potential exports to neighboring Sweden and Denmark. With Hanwha Aerospace recently breaking ground on its first European manufacturing facility in Romania, the company is securing maintenance, repair, and overhaul (MRO) competitiveness to become a strategic long-term partner in the region.
2. Hanwha Ocean: A Pivotal Moment in the 120T KRW Canadian Patrol Submarine Project (CPSP)
Hanwha Ocean is currently at the final crossroads of the Canadian Patrol Submarine Project (CPSP), the largest export opportunity in South Korean history, valued at up to 120 trillion KRW including life-cycle costs. A 3,000-ton KSS-III submarine, which departed Korea in late March, is currently en route to Victoria, Canada, serving as a powerful demonstration of South Korea’s combat-ready submarine capabilities ahead of its late May arrival.
Hanwha Ocean has accelerated its “localization strategy” by signing strategic partnerships with local giants such as PCL Construction and Algoma Steel. According to a KPMG analysis, Hanwha’s industrial cooperation for the CPSP could support approximately 200,000 job-years through 2040. If Hanwha Ocean secures the preferred bidder status over Germany’s TKMS following the April 29 proposal deadline, the group’s market valuation is expected to reach historic highs.
3. Hanwha Systems: Integrating Space Tech and Low-Earth Orbit (LEO) Networks
Hanwha Systems, acting as the “brain” of the defense group, continues to deliver tangible results in April. On April 10, it signed a 2.9 billion KRW contract with Nara Space Technology for the development of hyper-compact greenhouse gas monitoring satellites, showcasing the expansion of defense sensor tech into the civilian space market.
Currently, Hanwha Systems leads the 1.4 trillion KRW competition for hyper-compact SAR (Synthetic Aperture Radar) satellites. LEO satellite networks are the backbone of modern “Network-Centric Warfare,” integrating Hanwha Aerospace’s terrestrial platforms and Hanwha Ocean’s maritime assets into a unified command-and-control system. The momentum from expected large-scale space defense orders in Q2 is projected to boost Hanwha Systems’ profitability by more than 30% compared to last year.