Hanwha: Hanwha Aerospace Co., a defense affiliate of Hanwha Group, announced a suspension of operations at all its production facilities following a deadly explosion at its Daejeon site. The company plans to conduct special safety inspections as a precautionary measure.
According to Yonhap News Agency, Hanwha Aerospace will halt operations at its nine business sites across the nation for two days starting Thursday. This marks the first companywide shutdown since the company's establishment. The explosion, which occurred on Monday at the facility located approximately 140 kilometers south of Seoul, resulted in the deaths of five individuals and injuries to two others. Authorities have initiated a joint investigation to determine the precise cause of the incident.
Hanwha Aerospace emphasized that ensuring a safe working environment is a priority over avoiding temporary production disruptions due to the suspension. The Daejeon plant is a critical defense facility, designated as a secret defense factory, and it manufactures various weapons systems, including the Chunmoo multiple rocket launchers and long-range surface-to-air missiles (L-SAM).
The production lines affected by the suspension generated 1.32 trillion won (US$870 million) in revenue last year, representing 4.94 percent of Hanwha Aerospace's total revenue of 26.7 trillion won.