The domestically developed KF-21 fighter jet flies during its first test flight over the Air Force's 3rd Flying Training Wing base in Sacheon, South Gyeongsang Province, July 19. Courtesy of Defense Acquisition Program Administration
By Park Jae-hyuk
Korea Aerospace Industries (KAI) has been mentioned as the next acquisition target of Hanwha Group for the conglomerate to become a global defense industry powerhouse going after Lockheed Martin, according to industry officials, Tuesday.
Earlier this week, Hanwha announced its decision to take over a 49.3 percent stake in Daewoo Shipbuilding & Marine Engineering (DSME) for 2 trillion won ($1.4 billion) from the shipbuilder's largest shareholder, Korea Development Bank.
Once the business group completes the acquisition deal, it will be able to enhance its competitiveness in naval defense systems through DSME's warship manufacturing division.
