EU Interest in K9 Thunder and Chunmoo to Protect Greenland Boosts Outlook for Hanwha Aerospace

According to The Financial News, expectations are growing that European adoption of Korean defense systems will accelerate after U.S. President Donald John Trump stressed the need to secure Greenland. In particular, more countries are considering the introduction of Hanwha Aerospace's K9 Thunder and K239 Chunmoo multiple rocket launcher system, which is expected to support the company’s earnings growth.
As of the 27th, industry sources said Hanwha Aerospace aims to finalize a third execution contract this year with Poland, its largest market in Europe, for the K9 Thunder self-propelled howitzer. Once the deal is signed, Poland will receive 308 additional K9 Thunder units, following 212 units in the first contract and 152 in the second. The value of the third contract is estimated at up to about 8 trillion won.
Beyond Poland, Norway is seen as a strong candidate to adopt the K239 Chunmoo multiple rocket launcher system. The Norwegian parliament is scheduled to hold a plenary session on the 27th (local time) to vote on a bill approving a multiple rocket launcher procurement project worth 1.9 billion dollars, or about 2.7 trillion won. Hanwha Aerospace has made the shortlist for the project alongside KNDS, a joint venture between Germany and France.
There is also talk that Finland and the Republic of Estonia may place additional orders for K9 Thunder howitzers. Observers say Spain could sign a K9 Thunder deal worth around 7 trillion won, while Romania may conclude a contract of roughly 4 trillion won for the REDBACK infantry fighting vehicle.
The wave of interest in Hanwha Aerospace across Europe has been fueled in part by U.S. President Donald Trump’s ambitions regarding Greenland. Recently, Trump has emphasized the need to secure Greenland, a territory of Denmark, prompting louder calls within Europe to reduce security dependence on the United States. It is estimated that the European Union (EU) will need about 1 trillion dollars, or roughly 1,400 trillion won, to rebuild its defense capabilities and lower its reliance on the U.S.
Hanwha Aerospace is also expanding local partnerships to break through the prevailing "buy European" mindset. The company has already set up a joint venture with Poland’s WB Group to produce guided missiles for the K239 Chunmoo multiple rocket launcher system. In Romania, it is building production facilities for the K9 Thunder self-propelled howitzer and the K10 ammunition resupply vehicle. Hanwha Aerospace plans to start operating the Romanian plant in 2027.
If Hanwha Aerospace secures these orders, its operating profit this year is likely to surpass 4 trillion won. According to financial data provider FnGuide, the company’s operating profit for the year is projected at around 4.4384 trillion won, about 30% higher than last year.
hoya0222@fnnews.com Kim Dong-ho Reporter