Hanwha and LIG Nex1 Owners All Gathered in UAE

Kim Dongkwan of Hanwha and Koo Bonsang of LIG Lead Marketing Targeting the Middle Eastern Market
Where Reliance on Weapon Imports Is High

Defense industry owners have all gathered in the United Arab Emirates (UAE). This move aims to increase 'K-defense exports' targeting the Middle Eastern market, which heavily relies on weapon imports due to its weak manufacturing base.

Kim Dong-kwan, Vice Chairman of Hanwha Group (right), held a business meeting with Faisal Al Bannai, CEO of EDGE Group (left), at the defense industry exhibition IDEX 2025 held in the United Arab Emirates (UAE) on the 17th. (Photo by Hanwha Aerospace)

According to industry sources on the 18th, defense industry owners such as Kim Dong-kwan, Vice Chairman of Hanwha Group, and Koo Bon-sang, Chairman of LIG, attended the 'IDEX 2025 (International Defence Exhibition & Conference)' held in Abu Dhabi, UAE, from the 17th to the 21st (local time).

On the afternoon of the 17th, Vice Chairman Kim met with Faisal Al Bannai, CEO of EDGE Group, to discuss various defense export plans and cooperation on unmanned system development. EDGE emerged as a leader in the unmanned weapon system field after acquiring Estonia's Milrem in 2023.

Hanwha also proposed cooperation with EDGE in the aerospace and satellite industries. They emphasized the high potential for collaboration between Hanwha Ocean and EDGE Shipyard in the shipbuilding and marine sectors. EDGE Group operates shipbuilding and naval vessel construction through its subsidiary ADSB (Abu Dhabi Ship Building). ADSB manufactures warships and patrol vessels, supplying ships not only to the UAE Navy but also to overseas customers. Hanwha and EDGE agreed to develop specific cooperation plans through ongoing discussions and to expand strategic cooperation in the defense and related industrial sectors.

LIG Nex1 plans to pursue customized order marketing optimized for the local environment. Chairman Koo, who is rare among defense industry owners for his special interest in Middle Eastern exhibitions, attends annually. He also accompanied the 2023 economic delegation's visit to the UAE. At this exhibition, Chairman Koo plans to showcase the accumulated capabilities of his system integration company, which has led the domestic development of the medium-range, medium-altitude interception system Cheongung II, the long-range, high-altitude interception capability L-SAM, as well as LAMD and the close-in weapon system (CIWS-II).

The Middle East has significant defense demand and defense spending. It accounts for 30% of the global weapon import share by region (based on 2019?2023 data), ranking second after Asia-Oceania (37%).