Defense Industry Reshapes Corporate Landscape.. Hanwha Enters Top Five Groups for the First Time

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[The Financial News] Hanwha Group has entered the country's top five business groups for the first time, driven by record defense orders and rising asset values at its energy affiliates.
According to the Korea Fair Trade Commission (KFTC), which announced the results of its 2026 designation of business groups subject to disclosure on the 29th, Hanwha's total fair asset value reached 149.605 trillion won, placing it fifth among major conglomerates. That was about 19% higher than last year's 125.741 trillion won.
This has also shaken up the long-standing top-five group structure of Samsung Group, SK Group, Hyundai Motor Company, LG, and Lotte Group. Lotte, which had ranked fifth, fell to sixth place with total assets of 142.42 trillion won, while POSCO dropped one spot to seventh with 140.584 trillion won.
Hanwha's rapid rise reflects surging global demand for K-defense products. Orders from Poland opened the door, and contracts from the Middle East are now being reflected in its assets in earnest.
In fact, defense companies including Korea Aerospace Industries, Ltd. (KAI) and LIG also climbed in the rankings. KAI rose from 62nd to 53rd, while LIG moved up from 69th to 63rd.
The KFTC said, "The increase in defense industry demand caused by deepening geopolitical conflicts, including the Russia-Ukraine war, had a direct impact on asset growth."
Some observers expect that, along with expanded exports to the Middle East amid the war there, global order backlogs will grow further if the shipbuilding cooperation project with the United States, known as MASGA, gains momentum. Hanwha is also accelerating its push into the world's largest defense market by establishing HDUSA Ordnance Solutions in Delaware and moving ahead with ammunition production.
hoya0222@fnnews.com Kim Dong-ho Reporter