Korean defense firms report strong Q3 earnings on large export deals

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Korea’s leading defense firms saw strong revenue and profit growth in the third quarter, driven by significant arms export deals. Combined operating profits for Hanwha Aerospace, Korea Aerospace Industries (KAI), Hyundai Rotem, and LIG Nex1 totaled approximately 753.8 billion won ($546 million) from July to September. Hanwha Aerospace’s profits were boosted by exports of K9 howitzers and Chunmoo rocket launchers to Poland. LIG Nex1 anticipates continued earnings growth after securing a 3.7 trillion-won contract with Iraq for its Cheongung-II missile defense system. These successes underscore Korea’s growing influence in the global defense market.

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