Hanwha

Five killed in explosion at Hanwha Aerospace factory in S. Korea

A fire truck exits the Hanwha Aerospace facility in Daejeon on Monday, following an explosion at the company’s factory that killed five and injured two. Photo by Yonhap

SEOUL, June 1 (UPI) — Five workers were killed and two others injured Monday after an explosion and fire at a Hanwha Aerospace defense facility in the central South Korean city of Daejeon, officials said.

The blast occurred around 10:59 a.m. at Hanwha’s plant in Yuseong District, fire authorities told reporters. Some 100 personnel were dispatched and extinguished the blaze shortly after 1 p.m.

All five fatalities were found inside the work area, while two injured workers were rescued and taken to nearby hospitals, officials said. One suffered burns over his entire body and remained in critical condition, while the other sustained relatively minor burns to the neck.

Authorities said the bodies of the victims were severely damaged, making identification difficult.

Hanwha officials said the explosion occurred during a cleaning operation involving tools and equipment used in the rocket-propellant manufacturing process. The company said the exact cause of the blast remains under investigation.

A company official said the cleaning process had not previously been regarded as particularly hazardous because it involved washing equipment with water. The seven people involved in the accident were site workers rather than researchers, he added.

South Korean President Lee Jae Myung ordered authorities to mobilize all available resources for emergency response efforts and conduct a thorough investigation into the cause of the accident, according to his office.

Prime Minister Kim Min-seok issued similar instructions, calling for all available personnel and equipment to be deployed for firefighting and rescue operations and to prevent additional casualties.

Hanwha Aerospace Chief Executive Officer Son Jae-il apologized to the victims and their families following the deadly incident.

“We failed to protect the lives of those who were working at what should have been a safe workplace,” Son said. “As the company’s chief executive, I feel a heavy responsibility for this accident.”

Son pledged full cooperation with authorities investigating the cause of the explosion and said the company would conduct a comprehensive review of its safety systems to prevent a recurrence.

The company said it had established an emergency response headquarters at the site and was working with fire, police and other authorities on response and recovery efforts.

The Daejeon facility is one of Hanwha Aerospace’s key defense production sites and develops propulsion systems and tactical weapon technologies.

The accident was the latest in a series of deadly incidents at the complex. Explosions at the facility killed five workers in 2018 and three more in 2019.

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Hanwha Aerospace to buy $340M more in KAI shares

International military delegates chat with exhibitors next to a FA-50 multirole fighter jet model developed by Korea Aerospace Industries (KAI) at the Defense and Security 2025 exhibition in Nonthaburi, on the outskirts of Bangkok, Thailand. File. Photo by RUNGROJ YONGRIT / EPA

May 4 (Asia Today) — Hanwha Aerospace will acquire additional shares in Korea Aerospace Industries to strengthen cooperation in aviation, space and defense.

Hanwha Aerospace said in a regulatory filing Monday it decided to purchase about 2.96 million additional KAI shares on the open market. The acquisition is valued at up to 500 billion won ($340 million), equivalent to about 2.98% of the company’s equity capital.

The transaction will expand Hanwha Aerospace’s existing stake. The company currently holds about 3.31 million KAI shares. After the additional purchase is completed, its total holdings will rise to about 6.27 million shares, increasing its stake to 6.43%.

The purchase will be made in cash through open-market transactions from this month through December. The final acquisition size may vary depending on market conditions, including share prices.

Hanwha Aerospace said the purpose of the acquisition is to strengthen business cooperation. Industry observers view the move as a strategic step to deepen ties between the two companies in the aerospace and defense sectors.

KAI is South Korea’s leading aerospace company, producing aircraft, satellites and aerospace equipment. It reported 3.7 trillion won ($2.51 billion) in revenue and 187.3 billion won ($127 million) in net income last year.

The investment is expected to help Hanwha Aerospace seek stronger synergies between its businesses in space launch vehicles, aircraft engines and defense systems and KAI’s aircraft and space platform capabilities.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260504010000433

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