Market Chatter: Hanwha Systems to Develop Multifunction Radar Prototype for South Korea's L-SAM Defense; Shares Rise 3%

MT Newswires Live

2025/05/28

Hanwha Systems (KRX:272210) secured a 54.7 billion won contract to develop a multifunction radar (MFR) prototype for South Korea's upgraded long-range surface-to-air missile (L-SAM) system, Yonhap News reported Tuesday.

Selected by the state-run Agency for Defense Development, the radar will boost real-time detection and tracking of ballistic missile threats with extended range and precision, the report said.

Shares of the aerospace and defense company rose nearly 3% in recent trade on Wednesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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