Hanwha Systems (CEO Jae-il Son) recorded its highest sales and operating profit last year. With defense 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 successful.

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 for the period.

By business, in the defense sector last year, large-scale projects drove sales, including the export of the UAE Cheongung-II Multifunction Radar (MFR) and the Polish K2 fire control system, the fourth mass production of the Tactical Information and Communication Network (TICN), a core military communication system, and the second mass production of the next-generation military radio, the Tactical Multiband Multirole Radio (TMMR).

In the ICT sector, external projects 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 stated, “We will continue to grow this year by expanding exports and pioneering new global markets with our world-class competitive MFR and small SAR observation satellites.”