South Korean confectionery maker Lotte Wellfood announced that its first-quarter operating profit more than doubled from a year earlier, lifted by brisk sales in India and Kazakhstan that helped offset sluggish domestic demand. According to regulatory filings released Friday, operating profit jumped 118.4 percent to 35.8 billion won ($24.3 million) on a consolidated basis. Revenue rose 5.4 percent to 1.03 trillion won, while net profit slipped 26.6 percent to 1

Defense-heavy Hanwha Group has climbed to No. 5 in South Korea’s latest conglomerate rankings by the Fair Trade Commission, and it appears to be aiming to go literally higher by bringing aircraft and rocket manufacturing business back into the family. The group has recently secured more than a 5 percent stake in Korea Aerospace Industries, the country's aircraft-making monopoly, for the stated purpose of “management participation,” signa

South Korea’s homegrown KF-21 fighter jet has received final combat suitability approval, clearing the last major hurdle in its development 10 years and five months after the project began. The Defense Acquisition Program Administration (DAPA) said Thursday that the KF-21 was declared suitable for combat use, meaning the aircraft has met the Air Force’s required operational capability and secured the technical reliability needed to carry out mission

Hanwha Aerospace reported solid first-quarter earnings on the back of improved performance in its aerospace division and key subsidiaries, while its order backlog reached a record high amid steady growth in overseas contracts. The company said Thursday that its consolidated revenue rose 5 percent year-on-year to 5.751 trillion won ($3.9 billion) in the January–March period, while operating profit climbed 21 percent to 638.9 billion won. By segment, t

Hanwha Aerospace has launched the development of a homegrown air-to-air missile comparable to the Meteor, as part of efforts to localize advanced aerial weapon systems. The company unveiled its localization roadmap at the “Hanwha Tech Academy 2026” event in central Seoul on Wednesday. The Meteor, developed by European defense firm MBDA, is known for its top speed of Mach 4 and an interception range exceeding 200 kilometers, making it one of the

The historic industrial rivalry between South Korea and Japan—once defined by a relentless "car war"—is migrating toward a high-stakes defense-industrial faceoff. As Tokyo pivots away from decades of postwar pacifist constraints to permit the export of lethal platforms, it enters a market where Seoul currently enjoys a global "golden age." While both nations operate as critical linchpins of the U.S. security architecture in

South Korea’s domestically developed naval missile “Haegung” has been exported for the first time, with a supply contract signed with Malaysia worth about $94 million. LIG D&A said Wednesday it had signed the deal with Malaysia’s defense ministry on the sidelines of the DSA 2026 defense exhibition in Kuala Lumpur, as Malaysia’s navy moves forward with modernization efforts, opening new opportunities in the Southeast Asian mar

Unmanned systems are rapidly reshaping modern warfare, from the battlefields of Ukraine to the Gulf, and South Korea is accelerating its push toward autonomous combat capabilities under its “Army Tiger 4.0” modernization drive. The initiative reflects a broader shift across the military, as the Army, Navy and Air Force each move to build their own unmanned fleets. But a central question remains unresolved: who commands this expanding ecosystem of

A test video of Hanwha Aerospace’s new wheeled self-propelled howitzer, the K9MH, has spread widely on social media, drawing attention to its performance. The U.S. Army is pursuing a major program to replace its current 155mm M777 towed howitzers with wheeled self-propelled systems. Hanwha’s U.S. unit, Hanwha Defense USA, said last month it had proposed the K9MH for the program. The company is also reviewing plans to produce the system in Alab