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Hanwha Aerospace Wins $1.9B Norway Rocket Deal, Expanding European Footprint

Hanwha Aerospace is set to sign an official contract worth an estimated $1.9 billion to supply its K239 Chunmoo multiple rocket launcher systems to Norway. The signing ceremony in Oslo is expected to be attended by South Korea's presidential chief of staff, Kang Hoon-sik, who is visiting to support defense exports. The deal includes a standard Norwegian offset requirement mandating industrial cooperation equal to the contract's full value through technology transfer and local partnerships. This agreement builds on Hanwha's previous success in supplying K9 howitzers to Norway and underscores its growing presence in the European defense market.

Key Points: Hanwha Wins $1.9B Norway Rocket Launcher Contract

  • $1.9 billion defense contract
  • K239 Chunmoo rocket launcher systems
  • Deal includes 100% offset requirement
  • Strengthens Norway's long-range strike capability
  • Follows earlier K9 howitzer deal
2 min read

Hanwha Aerospace wins $1.9 billion Norway rocket deal

South Korea's Hanwha Aerospace secures a $1.9 billion deal to supply Chunmoo rocket systems to Norway, marking a major defense export success in Europe.

"discuss ways to expand defence cooperation between the two countries - Kang Hoon-sik"

Seoul, Jan 28

Hanwha Aerospace has secured an estimated $1.9 billion project to supply its K239 Chunmoo multiple rocket launcher systems to Norway, with the official contract expected to be signed this week, informed industry sources said on Wednesday.

The contract is widely expected to be signed Friday in Oslo by Hanwha Aerospace and the Norwegian Defence Materiel Agency (NDMA), the sources with direct knowledge of the matter told Yonhap News Agency while speaking on condition of anonymity.

Kang Hoon-sik, South Korea's presidential chief of staff, is expected to attend the signing ceremony, according to the sources.

Kang is currently visiting Canada as part of a trip widely believed to be aimed at supporting the country's defence exports.

Just before his departure from Seoul on Monday, Kang said he would also travel to Norway to discuss ways to expand defence cooperation between the two countries.

The deal comes as Norway seeks to bolster its long-range precision strike capability amid heightened security concerns in Europe.

According to the sources, the deal includes an offset requirement, a standard requirement under Norway's defence procurement rules, the sources said.

For all defence projects exceeding 50 million Norwegian kroner (US$5.2 million), foreign suppliers are required to provide industrial cooperation equal to 100 percent of the contract value, typically through a technology transfer and partnerships with local companies.

The agreement marks Hanwha Aerospace's latest major success in the Nordic defence market, following its previous contracts to supply K9 Vidar self-propelled howitzers to Norway in September.

Industry observers say the deal further underscores Hanwha's growing footprint in Europe and its ability to meet stringent operational and industrial requirements set by European defence customers.

- IANS

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Reader Comments

S
Sarah B
Interesting to see the offset requirement. Norway is smart—they're not just buying weapons, they're ensuring technology transfer and local partnerships. More countries should have such clauses to build their own industrial base. A good model to study.
P
Priya S
Europe is re-arming fast due to the security situation. Norway choosing a South Korean system over European or American ones is a significant vote of confidence. The K9 howitzer deal paved the way. Consistency in quality delivery matters!
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Vikram M
While it's great for Hanwha, it's a bit worrying to see such large arms deals becoming normal. The world feels like it's preparing for more conflict, not less. Hope diplomacy gets equal focus. 🙏
R
Rohit P
The presidential chief of staff himself attending the signing shows how seriously South Korea takes defence exports. It's a coordinated national effort. We need to learn from this and support our DRDO and private players more proactively. Jai Hind!
K
Karthik V
$1.9 billion is no small amount. The Chunmoo system must be highly capable to win in a competitive European market. Good on them. Hope some of this tech and business success rubs off on our defence partnerships too.

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