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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL, October 27, 2025 — Hanwha Systems Co., Ltd. and Hanwha Aerospace Co., Ltd. announced that they have signed supply contracts worth a combined ₩1.477 trillion (US$1.06 billion) to provide core components for Iraq’s procurement of the M-SAM-II (Cheongung-II) mid-range surface-to-air missile system, developed under South Korea’s indigenous defense program.
According to filings on October 27, the two Hanwha defense affiliates signed the deal with LIG Nex1 Co., Ltd., the prime contractor for the Cheongung-II program, to supply the system’s multi-function radar (MFR) and missile launchers.
Under the agreement:
Hanwha Systems will manufacture and supply multi-function radars valued at approximately ₩860 billion.
Hanwha Aerospace will deliver launchers and related subsystems totaling ₩617 billion, including ₩388 billion for launcher units and ₩229 billion for launch tubes and other components.
Hanwha Systems’ portion alone represents roughly 30% of its 2024 annual revenue.
The M-SAM-II units to be exported to Iraq will be adapted to local operational requirements, including climate, terrain, and combat environment conditions, based on previous export models successfully deployed in the United Arab Emirates (2022) and Saudi Arabia (2024).
Hanwha Systems’ export-version multi-function radar incorporates Active Electronically Scanned Array (AESA) technology, enabling a single radar to perform multiple missions with speed and precision. It can simultaneously detect and track hostile aircraft, ballistic missiles, and unmanned aerial vehicles (UAVs) from all directions. To address emerging battlefield threats, the export variant also integrates enhanced cruise missile detection and tracking capabilities.
Hanwha emphasized that this marks the company’s third trillion-won-class defense export to the Middle East, following contracts in the UAE and Saudi Arabia, underscoring the strength of Korea’s “K-Defense One Team” strategy in global defense collaboration.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
