The agreement marks a significant step in Hanwha’s strategy to strengthen defence cooperation with NATO-aligned countries and support Poland’s defence modernisation and industrial development.
Under the terms of the agreement, Hanwha Aerospace will hold a 51% majority stake in the new entity, while WB Electronics, a subsidiary of WB Group, will own the remaining 49%. The venture will commence operations following approval from Poland’s Antimonopoly Committee.
The signing ceremony included key representatives from both countries, including Mr. Paweł Bejda, Secretary of State and Deputy Minister of Defence, and Mr. Hoonmin Lim, Ambassador of the Republic of Korea to Poland. Also in attendance were Brig. Gen. Artul Kuptel, Head of the Armaments Agency, and Mr. Peter Bae, CEO of Hanwha Aerospace Europe.
“With this term sheet agreement, we have just taken the most important step toward establishing our joint venture with WB Group,” said Billy Boo-hwan Lee, Head of Hanwha Aerospace PGM Business Group. “We believe the joint venture will contribute to the growth of Polish industrial capability, as well as to the modernisation of the Polish Armed Forces.”
Piotr Wojciechowski, Chairman of WB Group, highlighted the strategic importance of the agreement. “The term sheet shows a clear roadmap for building a missile production site in Poland,” he said. “The cooperation between WB Electronics and Hanwha Aerospace is a demonstration of how the Polish and Korean industries can work together and how each company complements the other.”
He added that the factory will enhance Poland’s independence in ammunition production and serve as a potential supply hub for other European nations. “The joint venture will employ Polish engineers and workers and create a supply chain in Poland and the broader European market,” Wojciechowski said.
The new venture will be responsible for manufacturing 80km-range CGR-80 guided missiles for the Homar-K system, a Polish variant of the K239 Chunmoo MRLS. It will also explore export opportunities across Europe.
Hanwha Aerospace has previously signed two executive contracts with Poland since 2022 to supply 290 Chunmoo artillery systems capable of firing both 80km- and 290km-range guided rockets. The Homar-K programme involves extensive participation from the Polish defence sector, including integration of the system on Polish-made Jelcz 8×8 chassis and the use of WB Group’s Topaz combat management system.
Michael Coulter, President and CEO of Hanwha Global Defense, noted the broader significance of the agreement. “The latest JV agreement with WB Group is a significant milestone for Hanwha’s continued expansion in the global defence market,” he said. “It also represents Hanwha’s strong commitment to delivering technology edge and sovereign, domestic capacity to our global customers.”
