SEOUL: South Korean defence firm Hanwha Aerospace said on Monday (Feb 2) that it had won a US$922 million contract to supply long-range artillery systems and rockets to Norway.
Norway’s defence ministry said last week the country will acquire 16 Chunmoo launch systems and an undisclosed number of rockets for a total cost of 19 billion Norwegian crowns (US$2 billion).
Hanwha said that while Norway’s budget for the entire project is US$2 billion, Hanwha is providing the Chunmoo launch systems and rockets for about US$922 million, with the remainder expected to go into setting up local operations for the system, such as maintenance facilities and training.
Seoul-based analysts said that despite recent political pressure for European countries to buy European arms, Hanwha Aerospace can deliver both the launchers and the rockets in a much shorter time frame than competitors and with greater flexibility to meet operational needs, including for Norway’s arctic conditions.
“Chunmoo’s European exports will increase. It is estimated that it will take more than 20 years for Europe to develop a new multiple launch rocket system,” said Jang Nam-hyun, an analyst at Korea Investment & Securities.
“Hanwha Aerospace will build a production facility in Poland for guided rockets and begin delivery in 2030. The stable supply of guided rockets within Europe, in addition to (Hanwha’s) already-proven strength of fast delivery, will serve as a comparative advantage.”
Countries that have bought the Chunmoo rocket artillery system include Poland, Estonia and Middle Eastern countries.
Norway already operates K9 self-propelled howitzers made by Hanwha.