[Alpha Biz= Kim Jisun] South Korea’s Hanwha Systems has purchased shares of Korea Aerospace Industries (KAI) for the first time in about seven years.

According to a business report filed with the Financial Supervisory Service on March 13, Hanwha Systems disclosed that it bought 566,635 shares of KAI common stock in November last year for 59.87 billion won.

The stake represents 0.58% of KAI’s total shares, which is below the 5% disclosure threshold, meaning the purchase was not publicly reported at the time of acquisition.

It marks the Hanwha Group’s first investment in KAI since 2018, when Hanwha Aerospace sold its entire 5.99% stake in the aerospace company.

Hanwha and KAI cooperate on projects such as the KF-21 Boramae fighter jet program, but they also compete in certain areas, including bids related to small satellite systems in the space industry.

 

 

 

 

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