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HanwhaSouth Korea
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By: BankTrack
Created before Nov 2016
Last update: 2016-03-29 12:57:19

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Sector Arms Industry and Trade
Headquarters
Ownership
Subsidiaries
Website http://www.hanwha.co.kr

About Hanwha

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

Governance

Financiers

Related projects

Projects

active

Rio Grande LNG Terminal United States

LNG Terminal
There are no projects active for Hanwha now.

News

| |
Type:
Year:
blog
external news
our news

Plastic Waste Makers Index

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

NextDecade gets investment in its Rio Grande LNG project

2018-08-08 | Pipeline oil and gas news
blog
external news
our news

Hanwha Chairman Gets Four Years in Jail for Embezzlement

2012-08-16 | Bloomberg
blog
external news
our news

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

Documents

Type:
Year:
ngo documents
2021-06-01 00:00:00

Plastic Waste Makers Index

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

Worldwide investments in cluster munitions- a shared responsibility

2012-06-01 00:00:00 | FairFin, IKV Pax Christi
internal campaign documents
2010-04-01 00:00:00

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

2010-04-01 00:00:00 | Netwerk Vlaanderen & IKV Pax Christi
ngo documents
2010-04-01 00:00:00

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

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

Hanwha

2009-11-05 00:00:00 | Netwerk Vlaanderen et. al.
ngo documents
2009-10-01 00:00:00

Worldwide investments in CLUSTER MUNITIONS, a shared responsibility

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

Links

Hanwah Sustainability page

http://www.hanwha.com/content/hanwha/en/what-we-do/sustainability.html
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