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K9 self-propelled howitzers. (photo = Hanwha Aerospace) |
[Alpha Biz= Reporter Kim Jisun] Hanwha Aerospace announced on the 25th that it has signed a 'second execution contract' worth 2.2526 trillion won (1.644 billion dollars) with the Polish Military Agency. The contract will take effect only when a separate financial contract is signed by the end of November this year with government support.
At the signing ceremony held at Hanwha Aerospace's third plant in Changwon, South Gyeongsang Province, Hanwha Aerospace CEO Son Jae-il and Polish military chief Arthur Cooptel signed it. Earlier in the day, a 290-kilometer-long guided missile was successfully fired from the Polish-style Cheonmu launch pad at the Anheung Test Site of the Agency for Defense Development (ADD).
Hanwha Aerospace secured 152 K9 self-propelled howitzers and 72 Cheonmu guns as the second contract in addition to the first execution contract (212 K9 self-propelled howitzers and 218 Cheonmu guns). However, the second execution contract will take effect when a separate financial contract is signed between the authorities by June and November of this year, respectively. Earlier in February, the National Assembly passed a revision bill to the Export-Import Bank of Korea Act that would increase the limit on export financing support.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
