Riyadh: Hanwha Aerospace Co., South Korea's leading defense company, announced the inauguration of its new regional headquarters for the Middle East and North Africa (MENA) to enhance its influence in the region. The company hosted an opening ceremony in Riyadh, Saudi Arabia, on Wednesday, attended by approximately 120 officials from the governments and defense sectors of South Korea and Saudi Arabia.
According to Yonhap News Agency, the new headquarters will manage Hanwha Aerospace's operations in Saudi Arabia, the United Arab Emirates (UAE), and Egypt. The establishment aims to strengthen collaboration with the Saudi government on military modernization and support the development of a local defense industry in alignment with Saudi Arabia's "Vision 2030" initiative.
The office will also facilitate the business activities of Hanwha's other defense affiliates, such as Hanwha Systems Co. and Hanwha Ocean Co., across other MENA countries. "The new regional headquarters will serve as a bridgehead for Hanwha Group to strengthen partnerships with countries in the region," stated Sung Il, president of Hanwha Aerospace's MENA regional headquarters.