Hanwha Aerospace has secured an estimated $1.9 billion project to supply long-range rockets to Norway, with the official contract expected to be signed this Friday in Oslo. South Korea's presidential chief of staff, Kang Hoon-sik, is set to attend the ceremony, as Norway aims to enhance its long-range precision strike capabilities amid rising European security concerns.
Hanwha Aerospace Co. has secured an estimated $1.9 billion project to supply its K239 Chunmoo multiple rocket launcher systems to Norway, informed industry sources said on Wednesday. The official contract is widely expected to be signed this Friday in Oslo by Hanwha Aerospace and the Norwegian Defence Materiel Agency (NDMA), with sources speaking on condition of anonymity.
Kang Hoon-sik, South Korea's presidential chief of staff, is expected to attend the signing ceremony. Kang is currently in Canada on a trip aimed at supporting South Korea's defense exports and stated before departing Seoul on Monday that he would also visit Norway to discuss expanding defense cooperation between the two countries.
The deal centers on Norway's efforts to bolster its long-range precision strike capability amid heightened security concerns in Europe. It includes an offset requirement under Norway's defense procurement rules, mandating foreign suppliers to provide industrial cooperation equal to 100 percent of the contract value for projects exceeding 50 million Norwegian kroner ($5.2 million), typically through technology transfers and local partnerships.
This agreement marks Hanwha Aerospace's latest major success in the Nordic defense market, following its September contracts to supply K9 Vidar self-propelled howitzers to Norway. Industry observers note that the deal underscores Hanwha's growing footprint in Europe and its ability to meet stringent operational and industrial requirements set by European defense customers.
