South Korea's defense firms saw Q3 profits soar to $546 million, fueled by arms exports to Poland.

South Korea's major defense companies, including Hanwha Aerospace, KAI, Hyundai Rotem, and LIG Nex1, reported significant growth in Q3, with combined operating profits reaching 753.8 billion won ($546 million), a substantial increase from last year. Revenues rose by 30.9% to 5.4 trillion won, driven by arms exports, notably K9 howitzers and Chunmoo rocket launchers to Poland. Continued strong performance is anticipated due to upcoming contracts, including a major deal with Romania.

November 03, 2024
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