[Special Stock] Hanwha Aerospace Hits 52-Week High... Reflecting Expectations for Defense Business Integration

[Asia Economy Reporter Lee Myunghwan] Hanwha Aerospace set a new 52-week high in the morning session on the 2nd. This appears to reflect investors' expectations following the business restructuring announcement made on the 29th of last month.

As of 10:27 a.m. on the 2nd, Hanwha Aerospace was trading at 65,900 KRW, up 2.17% (1,400 KRW) from the previous trading day. During the morning session, Hanwha Aerospace briefly rose to 68,600 KRW, setting a new 52-week high. At the same time, Hanwha, the holding company, was trading at 28,850 KRW, up 3.78% (1,050 KRW).

On the 29th of last month, Hanwha Group announced a business restructuring plan to integrate its defense businesses into Hanwha Aerospace. Accordingly, Hanwha Group's defense operations, which had been spread across three companies, will be consolidated under Hanwha Aerospace. Under this restructuring, Hanwha Aerospace will acquire the defense division spun off from Hanwha and absorb and merge its wholly owned subsidiary Hanwha Defense.

Hanwha Aerospace stated, "Our plan is to grow the company size and diversify products in line with global trends to create a 'Korean-style Lockheed Martin.'"