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Hanwha Aerospace Co., Ltd., formerly Hanwha Techwin Co Ltd is a subsidiary of Hanwha Group, is an aerospace industrial company headquartered in Changwon, South Korea. It was established in 1977 as Samsung Precision. The company is Korea's only gas turbine engine manufacturer, and specializes in the development, production and maintenance of aircraft engines. In 1979, it started the aircraft engine business with gas turbine engine depot maintenance business, providing various gas turbine solutions to Korea and all over the world and by 2016 the company had produced more than 8,000 pieces of equipment.[3]

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Hanwha Aerospace Co., Ltd.

Native name	Korean: 한화에어로스페이스
Type	Public
Traded as	KRX: 012450
Industry	Aerospace
Founded	1977; 45 years ago (1977) (as Samsung Precision)
Headquarters	Seongsan, Changwon, Gyeongsangnam-do , South Korea
Key people	Hyun-Woo Shin (President)
Revenue	4,215 Billion KRW[1] (2017)
Total assets	5,748 Billion KRW[1] (2017)
Number of employees	2,559[2] (2017)
Parent	Hanwha Group
Website	hanwhaaerospace.com

History

The company was founded as Samsung Precision in 1977. The company established a precision instrument laboratory in 1978. In technical cooperation with General Electric, it started manufacturing jet engines for Korean aircraft in 1980.

It changed its name to Samsung Aerospace Industries in 1987 and started to make helicopters. The same year, it made the first KF-16 fighter jet in Korea.

It handed over the firm's aircraft business to Korea Aerospace Industries in 1999 and changed its name to Samsung Techwin in 2000.

In 2014, Samsung announced the sale of its holding stake in Samsung Techwin, to South Korean conglomerate Hanwha Group.[4] Hanwha completed the takeover and renamed it as Hanwha Techwin in 2015.[5]

In 2017, Hanwha Techwin has spun off its defense, energy equipment and industrial equipment business units into three subsidiaries, Hanwha Land Systems, Hanwha Power System and Hanwha Precision Machinery .[6]

In 2018, Hanwha Aerospace changed its name from Hanwha Techwin after its security division was spun off into an independent entity.[7]

Segments

The Company operates its business through six segments. The Defense segment manufactures and sells self-propelled artillery, ammunition carriers, and provides comprehensive ground weapon system support. The Aviation Engine segment produces and supplies gas turbine engines and engine parts, and provides engine maintenance services.The Power Systems segment produces and sells compressors and power generation systems. The Security segment manufactures and sells closed circuit televisions (CCTVs), digital video recorders (DVRs) and others.The Industrial Equipment segment produces and sells surface mount technology equipment such as chip mounters and screen printers.The Information Technology (IT) Service segment is engaged in businesses such as design and construction of computer systems, and commissioned operation of computer systems.[8]

Subsidiaries

This section does not cite any sources. (May 2022)

• Hanwha Land Systems
• Hanwha Power Systems
• Hanwha Precision Machinery
• Hanwha Techwin
• Hanwha Systems

See also

• Hanwha Group

References

External links

• Hanwha Aerospace Official Website

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