Hanwha Group said on the 10th that it plans to file a business combination review with the Korea Fair Trade Commission as its Korea Aerospace Industries (KAI)(047810) equity holding has surpassed 15%.
As of the day, Hanwha Group's equity in Korea Aerospace Industries (KAI) is 15.89%. It has been one month since the July 8 disclosure of a 12.44% equity holding and the announcement by Hanwha Systems of plans to make additional purchases within a 500 billion won limit within the year.
By affiliate, KAI equity holdings are Hanwha Aerospace 9.90%, Hanwha Systems 4.98%, and Hanwha Aerospace USA 1.01%. Of these, Hanwha Systems bought 3.45% of KAI equity on the open market over the past month.
Hanwha, as the second-largest shareholder with 15.98% of KAI equity, plans to consider taking part in KAI's decision-making on boosting synergy through business cooperation and supporting expanded global exports. KAI's largest shareholder is The Export-Import Bank of Korea (26.41%).
Hanwha plans to combine the group's technology and manufacturing capabilities in aircraft engines, guided weapons, radar, satellites, and land and naval defense with KAI's system integration capabilities in fighter jets, helicopters, and unmanned aircraft.
Through this, the company aims to build an integrated space-aviation-defense system spanning land, sea, air, and space, and to enhance KAI's export competitiveness by leveraging Hanwha's overseas networking and integrated packages.