South Korean defense industry giant Hanwha Aerospace has announced a major direct investment package of nearly €100 million to support Estonia’s defense industry and technological independence.
According to the company, the goal is to strengthen Estonia’s technological sovereignty and establish a regional center for territorial defense systems in the country. Including associated economic impacts and joint research and development projects, the total value of the package is projected to reach up to €260 million.
Just before the turn of the year, Estonia signed a contract worth nearly €290 million with Hanwha Aerospace to purchase at least six Chunmoo multiple rocket launchers, along with three different types of rockets. Last year, Hanwha also delivered six new K9 Thunder self-propelled howitzers.
“One part of the agreement was that Hanwha would invest in Estonia’s defense industry. Now this is starting to translate into concrete bilateral agreements with Estonian companies,” Minister of Defense Hanno Pevkur told ERR.
“We have always said that when we talk about technology transfer in the defense industry, this is exactly what we want — not just a straightforward investment in existing technology, but also new knowledge and skills being brought here. Hanwha has been a very good partner for Estonia in this regard.”
Read more: ERR.EE
