Hanwha Aerospace of South Korea has signed an export contract for K9 self-propelled howitzers with Spain's Indra Sistemas, marking its first entry into Western Europe. The quantity and term of the contract were not disclosed, and its estimated value is expected to exceed several hundred billion won.
South Korean defense giant Hanwha Aerospace has signed an export contract for K9 self-propelled howitzers with Spain's Indra Sistemas. The quantity, value and term of the transaction have not been disclosed.
Based on the order disclosure threshold under Korea Exchange rules, the contract value is estimated at more than KRW 667.5 billion. This is the company's first export to Western Europe.
Spanish military media have reported that an artillery modernization project led by Indra could be worth up to approximately €4.516 billion (about ¥836 billion).
Including this transaction, Hanwha Aerospace is expanding the number of countries to which it exports the K9 to 11. In the past, it has exported the system to Turkey, followed by Poland, Finland, India, Norway, Estonia, Australia, Egypt and Romania. On the 19th of this month, it signed a contract with the U.S. Army to supply six K9 wheeled self-propelled howitzers.