Hanwha Aerospace drops plan to acquire Poongsan's defence unit
09/04/2026 08:51
SEOUL, April 9 (Reuters) - South Korea's Hanwha Aerospace 012450.KS said in a regulatory filing on Thursday it has discontinued a review of whether to acquire Poongsan's 103140.KS defence business unit. Hanwha, which has emerged as South Korea's leading defence firm, was reported to have been considering the acquisition of Poongsan's ammunition manufacturing division. Poongsan, which specializes in copper products, said in a separate filing on Thursday it was not pursuing the sale of its ammunition manufacturing business, denying a media report on a 1.5 trillion won ($1 billion) sale plan. ($1 = 1,481.3500 won) (Reporting by Jack Kim Editing by Ed Davies) ((jack.kim@thomsonreuters.com; +822 6936 1455;))
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