The successful debut of Hanwha Asset’s Korean defense ETF in the US is expected to enhance the Korean defense stocks’ market value and brand awareness, market analysts said.“Global investment banks have recently upped their investment in Korean defense companies,” said an official from the financial industry.“The US listing of the (Hanwha Asset’s Korean defense) ETF is expected to attract more foreign capital and make Korean defense and aerospace companies’ roadshows more appealing to foreign investors.” TRACKING PLUS K-DEFENSE ETF IN KOREAHanwha Asset has teamed up with US investment company Exchange Traded Concepts (ETC) to list the Plus Korea Defense Industry ETF on the US market under the stock ticker of KDEF.
Hanwha Ocean also bagged 20 trillion won worth of a maintenance, repair, and overhaul (MRO) service contract with the US Navy in August, marking the first time a Korean shipbuilder will provide MRO services for the U.S.Navy.“Considering that the weapons ordered by the US become the global standard, not just for the West, a Korean defense company’ inroad into the US implies more than export increases,” said an official from the defense industry.“Hanwha Asset’s attempt to list the Korean defense industry ETF is seen as its efforts to improve the awareness of Korean defense companies in the global capital market to attract more investment.”Market analysts also expect a favorable environment would be created for Korean defense companies after the US presidential election regardless of the winner two weeks later.
Market analysts expect Hanwha Asset’s new Korean defense ETF would attract great interest from overseas investors once it is listed in the US, citing the strong global demand for Korean defense systems, including various weapons, fighter jets and armored vehicles, amid escalating geopolitical tensions and conflicts in Europe and the Middle East.
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