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Home › Dodgy Deals ›
Dodgy Deal
HanwhaSouth Korea

Company – On record

This profile is no longer actively maintained, with the information now possibly out of date
Lead organisation:
BankTrack
Last update: 2016-03-29 12:57:19

Company – On record

This profile is no longer actively maintained, with the information now possibly out of date
Lead organisation:
BankTrack
Last update: 2016-03-29 12:57:19
Why this profile?
About
Sectors Arms Industry and Trade
Headquarters
Ownership
Subsidiaries
Website http://www.hanwha.co.kr

Hanwha Corporation, the former Korea Explosives Corporation, is a world business leader in industrial explosives production, and in construction, trade, machinery, and pharmaceuticals.  It was founded in 1952 and is headquartered in Seoul, South Korea.  It is a Fortune 500 company and is one of the top ten Korean business groups.  Hanwha has over 53 domestic affiliates, and 78 global network partners.  It has business operations in Europe, the Americas, the Middle East, China, and Southeast Asia.  As of 2011, the company has assets of nearly 90 billion U.S. dollars.

The South Korean Company was officially designated a defense contractor in 1974. Since then, it has specialized in munitions, whose productions process has been under strict government control and for which the Korean Government is the sole customer.

Hanwha is one of South Korea's two producers of cluster munitions (Poongsan is the other). The company produces 130 mm Multiple Launch Rocket System and 2.75" Multi-purpose sub-munitions (MPSM). The company confirmed its manufacture of these types of cluster munitions in a written answer to Norway's Government Pension Fund in 2007.

The 130 mm MLRS is described on the company's website as a rocket "to launch multiple rockets into concentrated enemy encampments across a wide area."

The 2.75-inch MPSM is identified on the company's website as the "HE MPSM K224 Warhead [that] contains 9 each multipurpose sub-munitions for use against personnel, material and light armor.

In February 2010, Hanwha Corp issued Korean Won 100 billion (US$86.1 million) three-year bonds. The proceeds were used for general corporate purposes. Tong Yang Securities underwrote the complete issue.

Impacts
Financiers
Institution type
Finance type
Year
Projects

Rio Grande LNG Terminal

United States
Project
Active
LNG Terminal

Rio Grande LNG Terminal

United States
There are no active project profiles for Hanwha now.
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External
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Plastic Waste Makers Index

Unveiling the source of the single-use plastics crisis
2021-06-01 | Minderoo Foundation
BankTrack news BankTrack blog Partner news Partner blog

NextDecade gets investment in its Rio Grande LNG project

2018-08-08 | Pipeline oil and gas news
BankTrack news BankTrack blog Partner news Partner blog

Hanwha Chairman Gets Four Years in Jail for Embezzlement

2012-08-16 | Bloomberg
Blog
BankTrack news BankTrack blog Partner news Partner blog

Top financial institutions still invest US$20 billion in cluster bombs

Activists call on banks and pension funds to disinvest from banned weapon
2009-10-29 | London | Netwerk Vlaanderen
Resources
Documents
Links
2021-06-01 00:00:00

Plastic Waste Makers Index

Unveiling the source of the single-use plastics crisis
NGO document
2021-06-01 00:00:00 | Minderoo Foundation
2012-06-01 00:00:00

Worldwide investments in cluster munitions- a shared responsibility

NGO document
2012-06-01 00:00:00 | FairFin, IKV Pax Christi
2010-04-01 00:00:00

Update April 2010. Summary and Key findings: Worldwide investments in cluster munitions, a shared responsibility

Internal campaign document
2010-04-01 00:00:00 | Netwerk Vlaanderen & IKV Pax Christi
2010-04-01 00:00:00

Update April 2010: Worldwide investments in cluster munitions, a shared responsibility.

NGO document
2010-04-01 00:00:00 | Netwerk Vlaanderen, IKV Pax Christi
2009-11-05 00:00:00

Hanwha

Other document
2009-11-05 00:00:00 | Netwerk Vlaanderen et. al.
2009-10-01 00:00:00

Worldwide investments in CLUSTER MUNITIONS, a shared responsibility

NGO document
2009-10-01 00:00:00 | Netwerk Vlaanderen, et. al.

Hanwah Sustainability page

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