South Korea's Hanwha Aerospace trims capital increase plan to $1.6 billion

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South Korea's Hanwha Aerospace trims capital increase plan to $1.6 billion

, Reuters - 7:23 PM ET 4/7/2025 default

SEOUL (Reuters) - Hanwha Aerospace, South Korea's largest defence firm, said in a regulatory filing on Tuesday it is revising a planned capital increase to reduce it by around a third to 2.3 trillion won ($1.6 billion).

It had previously announced in March an equity capital increase worth 3.6 trillion won to build up overseas and domestic production to meet growing international demand.

However, South Korea's financial watchdog Financial Supervisory Service ordered Hanwha Aerospace to revise the plan, saying the company needed to better explain how the equity raising fits with a broader plan to restructure the company.

Hanwha Aerospace forecast earlier on Tuesday 2025 revenue of 30 trillion won and operating profit of 3 trillion won, versus 2024 revenue of 11.24 trillion won and operating profit of 1.73 trillion won, according to company filings.

Hanwha Aerospace said it will hold a press conference later on Tuesday to explain its mid- to long-term investment plans.

($1 = 1,469.9500 won)

(Reporting by Joyce Lee; Editing by Tom Hogue, Ed Davies)

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