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Hanwha lands 3-trillion-won Redback export deal with Australia

Hanwha lands 3-trillion-won Redback export deal with Australia

Posted December. 09, 2023 09:28,   

Updated December. 09, 2023 09:28


In a landmark deal, the Hanwha Group is poised to export its groundbreaking infantry fighting armored vehicle, 'Redback,' to Australia. The deal, valued at approximately 3 trillion won, is a significant milestone as the Redback is the first armored vehicle primarily developed by a civilian company in Korea. Remarkably, Hanwha has achieved this feat in a mere five years since commencing the project in 2018, without any initial blueprints. This accomplishment positions Hanwha ahead of established defense giants from the U.S., the U.K., and Germany.

On Friday, Hanwha Aerospace made a significant announcement, revealing that it has entered into a major contract worth 2.4 billion U.S. dollars with its Australian subsidiary and the Australian Department of Defense. This contract includes the supply of 129 Redback, a future-ready tracked infantry fighting vehicle, and other equipment. This follows the Australian government's earlier decision in July to choose the Redback as the preferred model for the 'LAND 400 Phase 3' project, an integral component of its military modernization strategy.

Under the terms of the agreement, Hanwha Aerospace is set to deliver 129 Redbacks to the Australian military in a phased manner by the year 2028. The vehicles will be manufactured in a new facility that is currently being built in Geelong, Victoria, Australia. Additionally, the K9 self-propelled howitzer, which Hanwha had previously contracted to supply to the Australian government in 2021 for around 1 trillion won, is also slated for production at this location.

The export of the Redback represents a pioneering achievement for a South Korean private company in the international arms market, especially for a product developed explicitly for export. Hanwha's success in clinching the Australian government's military modernization project, outpacing prominent tank manufacturers such as Germany's Rheinmetall, General Dynamics from the U.S., and the U.K.'s BAE Systems, signals a new era for the South Korean defense industry.

Do-Young Kwak now@donga.com