Hanwha Group will inject about 400 billion won into its U.S. subsidiaries to crack the United States, the world's largest defense market. After concrete results emerged, such as being selected on the 19th as the manufacturer for the U.S. Army's next-generation self-propelled howitzer prototypes, the group appears to be moving to expand its local business by supplying fresh capital.
According to the industry on the 23rd, Hanwha recently decided to participate in paid-in capital increases for its U.S. defense subsidiary Hanwha Defense USA and its strategic asset investment company Hanwha Futureproof. The total contribution will be up to $299 million (about 415 billion won).
First, Hanwha Aerospace, which holds 100% equity in Hanwha Defense USA, will contribute $149 million (about 206.8 billion won). This far exceeds the cumulative funds injected so far (159.7 billion won).
Affiliates also plan to participate in a $150 million (about 208.2 billion won) paid-in capital increase for Hanwha Futureproof, which oversees U.S. strategic asset investments. Under the equity structure, Hanwha Aerospace will pay half, or $75 million, while Hanwha Ocean and Hanwha Systems (each 18.75%) and Hanwha Solutions (12.5%) will cover the remainder.
On the 18th (local time), Hanwha Defense USA signed a prototype development contract with the U.S. Army for the Mobile Tactical Cannon (MTC). The project involves delivering up to 18 units of the wheeled K9 self-propelled howitzer (K9MH) developed by Hanwha. The contract is expected to reach up to $262.9 million (about 370 billion won).
In the naval defense segment, Hanwha Philly Shipyard Inc. in the United States, acquired in 2024, has been signing orders in quick succession. After winning the National Security Multi-Mission Vessel (NSMV) program from the U.S. Maritime Administration, it secured additional non-combatant shipbuilding work last month, including the Marine Research Instrumentation Vessel (MRIV) project.