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The Saudi government has announced cooperation with Hanwha, the leading South Korean defense industry, in a strategic alliance aimed at strengthening the Kingdom's ability to maintain national security.

Korea Economic Daily LogoKorea Economic Daily1w ago

 The Saudi government has announced cooperation with Hanwha, the leading South Korean defense industry, in a strategic alliance aimed at strengthening the Kingdom's ability to maintain national security. - Korea Economic Daily

Quick Summary:

Hanwha Aerospace Co.and Hanwha Systems Co.announced on Tuesday that they signed a three-party memorandum of understanding (MOU) for defense cooperation with the Saudi Arabian Ministry of the National Guard at World Defense Show 2024, a comprehensive defense exhibition held in Riyadh.

Under the MOU, Hanwha will participate in the ministry's medium to long-term plans, ranging from ground weapons systems, including armored vehicles, to surveillance systems utilizing robots and satellites.

The cooperation with Saudi Arabia, which aims to locally produce 50% of military supplies by 2030, will expand as part of the defense industry fostering plan.


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 The Saudi government has announced cooperation with Hanwha, the leading South Korean defense industry, in a strategic alliance aimed at strengthening the Kingdom's ability to maintain national security. - Korea Economic Daily (Picture 1)

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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-02-13 @ 15:14:26 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 121 words

Reading Time: 1 minutes read

Sentences: 9 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 20054769

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Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 16 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 7 hours ago

Coverage Areas: South Korea

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Publication Timezone: GMT +8:00

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Publisher ID: #91

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