Hanwha rises to No. 16 among global defense giants

Four South Korean defense companies — Hanwha Group, LIG Nex1, Hyundai Rotem and Korea Aerospace Industries — made the world’s 100 largest defense contractors for a second consecutive year, reflecting the industry’s growing export presence, particularly in Europe. Hanwha climbed six places to No. 16 in the annual ranking released Monday by US publication Defense News. The list ranks companies by defense revenue from the previous year. Hanwha’s defense revenue surged to $10.44 billion in 2025 from