Hanwha Group is set to further solidify its leading position as South Korea’s defence powerhouse by acquiring the remaining 50% stake in its military equipment joint venture with France’s Thales Group.
Paris-headquartered Thales said in a statement Wednesday that it will exercise a put option to sell its 50% interest in Hanwha Thales to Hanwha Group for W288 billion $256 million, marking the end of its 16 year-presence in Korea.
Thales entered the Korean market in 2000 through a 5050 joint venture with Samsung, which was then known as Samsung Thales. Samsung’s stake in the JV was subsequently acquired by Hanwha as part of...
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