Hanwha Systems (CEO Jae-il Son) recorded the highest sales and operating profit last year. With defense industry exports driving performance, the expansion of external business in the ICT sector and the strategy of selecting and focusing on new business areas have been effective.

Hanwha Systems announced on the 7th that it achieved sales of KRW 2.8037 trillion and operating profit of KRW 219.3 billion based on consolidated financial statements last year, an increase of 14.3% and 78.9% respectively compared to the previous year.

Net income also increased by 29.8% to KRW 445.2 billion, recording the highest performance in sales, operating profit, and net income.

By business, in the defense sector last year, large-scale projects led sales, including: △Export of the UAE Cheongung-II Multifunction Radar (MFR) and Poland's K2 fire control system; △4th mass production of the Tactical Information and Communication Network (TICN), a key military communication system; and △2nd mass production of the next-generation military radio TMMR (Tactical Multiband Multirole Radio).

In the ICT sector, external businesses such as the construction of Hanwha Aerospace's next-generation ERP (Enterprise Resource Planning) system and the construction of Shinhan EZ Insurance's next-generation system based on financial solutions achieved sales.

This year, Hanwha Systems plans to further solidify its performance based on the first mass production of the AESA radar for the Korean fighter (KF-21) and the export of the Cheongung-II multi-function radar (MFR) to the UAE and Saudi Arabia.

Hanwha Systems said, “We will continue to grow by expanding exports and pioneering new global markets this year, led by our world-class competitive MFR and small SAR observation satellites.”