The Daily Populous Saturday June 8th, 2024 day edition
Authored by businessinsider.com and submitted by self-fix

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.

Access your favorite topics in a personalized feed while you're on the go. download the app

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview

A South Korean weapons manufacturer that traditionally specialized in older, less advanced armaments is seizing on demand for 155mm howitzers by producing them faster than the West.

Hanwha Aerospace can build its K9 self-propelled howitzer in about six months at $3.5 million apiece, Bloomberg reported, estimating the company to be two to three times as fast as its competitors.

This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.

By comparison, French supplier Nexter was estimated to take about 30 months to deliver its Caesar self-propelled howitzer. However, it was reported in early January to have reduced the wait time by half.

That tracks with estimated production times for other Western firms restarting howitzer manufacturing, though other factors, such as sourcing materials, may cost them additional time.

The US uses the M777 howitzer, built by British company BAE Systems. In January, the firm said it expected to reopen production of the artillery platform for new US Army orders and would deliver an initial tranche next year.

German manufacturer KNDS Deutschland is also expected to resume production of its self-propelled PzH 2000 howitzer, with parts from Rheinmetall. In June, it said it would deliver the first howitzers by mid-2025.

Bloomberg reported that Hanwha's advantage comes from a streamlined production process that it's kept running as big Western defense contractors turned to more advanced weaponry years ago.

Hanwha Aerospace CEO Son Jae-il told Bloomberg: "We focus on the middleweights, self-propelled guns, armored vehicles, tanks. In these, we're already globally competitive."

That class of weapon "is the stuff that Lockheed Martin and Boeing don't do," Yoon Sukjoon, a senior fellow at the Korea Institute for Military Affairs, told the outlet.

South Korean law prohibits defense contractors from exporting weapons to active combat zones. But Hanwha is finding business outside Ukraine.

Its customers include Poland, which officiated an order for 679 of the K9 howitzers in July 2022, and Romania, which was reported in April to be looking into its first defense contract with South Korea for $725 million.

According to Bloomberg, Hanwha's annual revenue from arms exports has jumped 11 times to $1.1 billion since the war in Ukraine began.

In September, Hanwha factory workers in Changwon told Agence France-Presse that the facility had expanded production three times after Russia invaded.

That growth underscores a worldwide push to revitalize conventional arms manufacturing as global tensions worsen and major militaries send their inventory to Kyiv.

The US, for example, has begun driving up production of its 155mm shells from 10,000 rounds a month to a goal of 100,00 a month by 2025.

South Korea's defense contractors have emerged as significant industry players, making the country the world's 10th biggest arms exporter, per the Stockholm International Peace Research Institute.

According to SIPRI, the country held a 2% share of the global defense export market from 2019 to 2023, about 12% higher than the five years prior.

TiberWolf99 on June 8th, 2024 at 02:12 UTC »

They're only Howitzers if they're made in the Howitzer region of Czechia, these are just sparkling artillery

DontCallMeMillenial on June 8th, 2024 at 00:42 UTC »

Speaking as someone in the industry, there has been a significantly increased presence of Korean firms in defense industry trade shows in the last few years, and they go all out.

It's not unusual for a domestic company like General Dynamics to bring something like a new AbramsX prototype to a two-day trade show, but usually foreign firms keep a lower footprint. The Koreans have started bringing a lot of their heavy equipment, and it must cost a fortune to do it.

lamhishkarease on June 7th, 2024 at 20:20 UTC »

2 times or 3 times?

> Bloomberg reported that the South Korean firm builds howitzers up to thrice as fast as its competitors.