FTC clears Hanwha’s 15.9% stake in KAI

South Korea’s antitrust regulator has approved Hanwha Group’s acquisition of a 15.89 percent stake in Korea Aerospace Industries, clearing a key regulatory hurdle in the conglomerate’s push to build a defense business spanning land, sea, air and space. The Fair Trade Commission said Monday that it had approved the share purchases by Hanwha Aerospace, Hanwha Systems and Hanwha Ocean. The review focused on whether the minority stake would give Hanwha effective control over KAI. Under the Fair Trad