Hanwha enters top five on defense boom

Apr 30, 2026, 09:16 am

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A view of the headquarters building of Hanwha Group. /Hanwha

Hanwha Group has entered the top five largest conglomerates in South Korea by asset size for the first time since its founding in 1952, driven by strong growth in its defense business.

According to industry sources on April 30, Hanwha ranked fifth in the latest asset-based conglomerate rankings released by the Fair Trade Commission, rising two spots from seventh place last year.

The milestone marks the first time Hanwha has broken into the country’s “big five” business groups, reflecting a shift in the corporate landscape fueled by rising global demand for defense capabilities amid prolonged geopolitical tensions.

The Fair Trade Commission on April 29 designated 102 business groups with total assets exceeding 5 trillion won as disclosure-target conglomerates, while 47 groups with assets over 12 trillion won were classified as cross-shareholding-restricted groups.

One of the most notable changes this year was the rapid rise of defense-related conglomerates. The regulator said that growing demand for defense equipment, driven by conflicts such as the Russia-Ukraine war, has boosted the asset rankings of groups with major defense affiliates.

Hanwha’s growth has been led by key subsidiaries including Hanwha Aerospace, Hanwha Systems, and Hanwha Ocean, as the group expands its presence in defense, shipbuilding, and aerospace sectors.

Earlier, Hanwha had already entered the top five in terms of market capitalization. As of last month, the group’s total market value exceeded 180 trillion won, supported by rising stock prices of its defense and shipbuilding affiliates, including Hanwha Aerospace and Hanwha Ocean.

#Hanwha Group #defense industry #Fair Trade Commission #asset ranking