Photo: Michał Derela / Wikimedia Commons.
Hanwha Aerospace has signed a term sheet agreement with Poland's largest private defence company, WB Group, to establish a joint venture for the production of guided missiles in Poland for the Homar-K Multiple Rocket Launch System, the Polish variant of...
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Hanwha Aerospace has signed a term sheet agreement with Poland's largest private defence company, WB Group, to establish a joint venture for the production of guided missiles in Poland for the Homar-K Multiple Rocket Launch System, the Polish variant of South Korea’s K239 Chunmoo MLRS.
This agreement marks a significant step in Hanwha's localisation strategy and reaffirms the company's long-term commitment to Poland's defence modernisation and industrial development. It also strengthens Hanwha's role as a strategic partner for NATO and EU member states.
As per the agreement, Hanwha Aerospace will hold a 51% majority stake in the joint venture, with WB Electronics, a subsidiary of WB Group, holding the remaining 49%. Operations will commence once the agreement receives approval from Poland’s Antimonopoly Committee.
The agreement was signed by Piotr Wojciechowski, Chairman of WB Group, and Billy Boo-hwan Lee, Head of Hanwha Aerospace PGM Business Group. The signing ceremony was attended by several notable figures, including Paweł Bejda, Deputy Minister of Defense; Gen. bryg. dr Artur Kuptel, Head of the Armaments Agency; Hoonmin Lim, Ambassador of the Korean Embassy in Poland; and Peter Bae, CEO of Hanwha Aerospace Europe.
“With this term sheet agreement, we have just taken the most important step toward establishing our joint venture with WB Group. We believe the joint venture will contribute to the growth of Polish industrial capability, as well as to the modernisation of the Polish Armed Forces. Thanks to this endeavour, our industries will also gain the opportunity to jointly enter new European markets with competitive, combat-proven missile technologies,” said Billy Boo-hwan Lee.
Piotr Wojciechowski, Chairman of WB Group, highlighted the significance of the agreement: “The term sheet shows a clear roadmap for building a missile production site in Poland. The cooperation between WB Electronics and Hanwha Aerospace is a demonstration of how the Polish and Korean industries can work together and how each company complements the other. The factory will increase Poland's independence in ammunition production and provide huge potential for industrial and economic growth. We expect the plant to become a supply centre not only for the Polish armed forces but also for the armies of other European countries. I want to point out that it will be a Polish company operating by Polish law and paying taxes in the country. The joint venture will employ Polish engineers and workers and will create a supply chain in Poland and the broader European market.”
The joint venture will focus on fulfilling the requirements to produce 80km-range CGR-80 guided missiles for the Homar-K, Poland's version of the K239 Chunmoo Multiple Rocket Launch System (MRLS). Additionally, the venture will work on marketing these guided missiles to neighbouring European countries.
Since 2022, Hanwha Aerospace has signed two executive contracts to supply 290 Chunmoo rocket artillery systems, capable of launching both 80km and 290km-range guided rockets.
The Homar-K programme has become a prime example of Hanwha’s localisation efforts in Poland, with significant involvement from Polish defence companies. Under the programme, Polish companies handle the integration and assembly of the long-range rocket launcher system, which is mounted on Polish Jelcz 8x8 chassis. The system also features the Topaz combat management system, developed by WB, along with other Polish components and subsystems.
“The latest JV agreement with WB Group is a significant milestone for Hanwha’s continued expansion in the global defence market,” said Michael Coulter, President and CEO of Hanwha Global Defense. “It represents Hanwha’s strong commitment to delivering the technological edge as well as sovereign, domestic capacity to our global customers.”
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