Hanwha secures stake in Daewoo Shipbuilding & Marine Engineering
Hanwha has confirmed its purchase of a major stake in DSME. (Photo: DSME)
Hanwha’s purchase of DSME caps off a year of success for the South Korean giant, which has gained ground in key international markets.
Hanwha Group has taken control of Daewoo Shipbuilding & Marine Engineering (DSME), acquiring a 49.3% stake in the company.
The deal worth around $1.5 billion was announced on 16 December and followed a September signing of a conditional MoU for Hanwha to take a controlling stake in the shipbuilder.
DSME has contracts worth $28.8 billion on its order books over the next four years, much of them relating to vessels for the Republic of Korea Navy.
Related Articles
Hanwha Group is set to expand into naval shipbuilding
DSME produces submarines, warships, and auxiliaries for military customers.
The Hanwha takeover will see the Korea Development Bank’s stake in DSME reduced to 28.2%. The bank had been DSME’s main creditor and largest shareholder.
Shares are being acquired by six subsidiaries of Hanwha, with Hanwha Aerospace stumping almost half of the purchase price.
More from Defence Notes
-
![Israel defence ministry pushes ambitious spending plans for tanks, drones and KC-46 aircraft]()
Israel defence ministry pushes ambitious spending plans for tanks, drones and KC-46 aircraft
The procurement and acceleration production plans – some of which still await approval – across the air and land domains will aim to strengthen the operational needs of the Israel Defense Forces.
-
![US reforms its defence acquisition system to focus on commercial capabilities]()
US reforms its defence acquisition system to focus on commercial capabilities
This shift is planned to accelerate the procurement and fielding of capabilities. As part of this strategy, the US also intends modernise its regulations in an attempt to change its bureaucratic and risk-averse culture.
-
![Australia’s Exercise Talisman Sabre concludes after a series of firsts]()
Australia’s Exercise Talisman Sabre concludes after a series of firsts
More than 40,000 military personnel from 19 participating nations took part in the 11th iteration of the biennial Exercise Talisman Sabre multi-domain event which was held across Australia and in Papua New Guinea.
-
![US Africa Command targets logistic solutions]()
US Africa Command targets logistic solutions
AFRICOM is seeking IT systems and supply chain management solutions to enhance interoperability and standardise logistical processes in its area of responsibility.
-
![Rheinmetall sales up by almost a quarter on wave of German spending]()
Rheinmetall sales up by almost a quarter on wave of German spending
Germany’s Rheinmetall released its 1H 2025 results on 7 August, continuing the strong growth of recent years. A particular highlight of the result’s presentation was the Skyranger air defence system for which the company is predicting sales of about US$8.2 billion from the German Government before the end of the year.
-
![Defence companies continue to ride procurement wave]()
Defence companies continue to ride procurement wave
Vehicle and technology companies are reporting substantial growth compared to the first half of 2024. Italy’s Fincantieri saw revenues jump 24% for the first half of the year compared to 2024 and Thales up 6.8% for the same period. General Dynamics reported second quarter revenue growth of 8.9% for the second quarter compared to last year and MilDef reported organic order intake growth of 58%.
