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Defense firm Hanwha Systems wins 550 bln-won order

Industry 15:14 August 12, 2019

SEOUL, Aug. 12 (Yonhap) -- Hanwha Systems Co., a South Korean solution provider for defense electronics, said Monday it has inked a deal worth 550.8 billion (US$453 million) with the country's arms procurement agency to upgrade identification friend-or-foe (IFF) systems on military aircrafts.

Under the deal with the Defense Acquisition Program Administration (DAPA), Hanwha Systems will supply enhanced aircraft IFF systems by 2023.

The latest deal follows Hanwha Systems' 189 billion won-order from DAPA in April, in which it agreed to upgrade IFF systems for military vessels.

Hanwha Systems is a subsidiary of Hanwha Aerospace Co., an aerospace industrial company under South Korean conglomerate Hanwha Group.

kdon@yna.co.kr
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