Hanwha Aerospace Co Ltd

Defense & Geopolitical Fragmentation▲

GE Aerospace to Power South Korea's Next-Gen Destroyers

GE Aerospace has won an order to supply 12 LM2500+G4 marine gas turbine engines for South Korea's next-generation destroyer program, known as KDDX. The engines will power six planned destroyers, with each vessel using two engines as part of a full electric propulsion system. Financial terms were not disclosed. This contract extends GE's relationship with the Republic of Korea Navy, which has already procured 163 marine gas turbines for 95 ships. Local partners Hanwha Aerospace and NRTEC will handle manufacturing and assembly in South Korea. The KDDX vessels will be the Korean Navy's first with stealth-integrated radar and will carry anti-aircraft and land-attack missiles. GE's Defense & Propulsion Technologies generated $11.2 billion in revenue in 2025, compared with $38.1 billion for Commercial Engines & Services.

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Kospi Rises as Chip Buybacks Offset Broad Selling

South Korea's Kospi closed at 6,835.8 points on Tuesday, up 0.23%, as buyback-driven gains in Samsung Electronics and SK Hynix offset net selling from foreign, institutional, and retail investors alike. The index marked its second straight gain, having opened 0.52% lower after fresh U.S.-Iran airstrikes and a hawkish Fed speech from Chair Kevin Warsh unsettled global markets. The Kospi erased losses in the afternoon as government data showed Korea's August exports stayed solid on strong chip demand, with Samsung rising 0.38% and SK Hynix advancing 1.14%, both aided by recently announced buyback programs. Trade volume was light at 263.7 million shares worth 17.5 trillion won ($12.8 billion), with advancers narrowly beating decliners 444 to 421. Foreign investors sold a net 491.9 billion won, institutions sold 634 billion won, and retail investors sold 539.8 billion won. Oil refiners gained on rising crude prices, with SK Innovation up 7.81% and S-Oil up 1.07%, while Hanwha Aerospace fell 3.99% and Celltrion slipped 0.48%. The won weakened 1.8 won to trade at 1,370.4 per dollar as of 3:30 p.m., reflecting broader risk-off pressure from the Middle East escalation.

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Seoul Stocks Surge Over 4% on Tech Buying Spree

South Korea's composite stock index surged more than 4% today, driven by heavy buying in technology shares after Alphabet, the parent company of Google, reported strong second-quarter earnings. The index closed at 7,096.89 points, up 299.19 points or 4.4%, reclaiming the 7,000 level as foreign investors snapped up semiconductor stocks. Alphabet's results beat market expectations and the company announced increased investment in artificial intelligence, with cloud revenue jumping 82% year-on-year. Samsung Electronics shares rose 3.65%, while SK hynix soared 4.85%. Defense stocks also gained, with Hanwha Aerospace up 7.52% and LIG Defense & Aerospace surging 10.34%.

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