Hanwha and WB Group Sign Term Sheet Agreement for Guided Missile JV in Poland

April 15, 2025

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Hanwha Aerospace has signed a term sheet agreement to establish a joint venture with WB Group, Poland's largest private defense company, to manufacture guided missiles in Poland for the Homar-K Multiple Rocket Launch System.

The agreement marks a key milestone in Hanwha's localization strategy, reinforcing its long-term commitment to Poland's defense modernization and industrial development. It also underscores Hanwha's expanding role as a strategic partner for NATO and EU member states.

Under the agreement, Hanwha Aerospace will hold a 51% majority stake in the new entity, with WB Electronics (a WB Group subsidiary) holding the remaining 49%. The joint venture will begin operations following approval from Poland’s Antimonopoly Committee.

The agreement was signed by Piotr Wojciechowski, Chairman of WB Group, and Mr. Billy Boo-hwan Lee, Head of Hanwha Aerospace PGM Business Group. Among the high-profile participants at the ceremony were Mr. Pawel Bejda, Secretary of State and Deputy Minister of Defense; Brig. Gen. Artul Kuptel, Ph.D., Head of Armaments Agency; Mr. Hoonmin Lim, Ambassador of the Korean Embassy in Poland; and Mr. Peter Bae, CEO of Hanwha Aerospace Europe.

“With this term sheet agreement, we have just taken the most important step toward establishing our joint venture with WB Group. We believe the joint venture will contribute to the growth of Polish industrial capability, as well as to the modernization of the Polish Armed Forces. Thanks to this endeavor, our industries will also gain the opportunity to jointly enter new European markets with competitive, combat-proven missile technologies,” said Billy Boo-hwan Lee, Head of Hanwha Aerospace PGM Business Group.

“The term sheet shows a clear roadmap for building a missile production site in Poland. The cooperation between WB Electronics and Hanwha Aerospace is a demonstration of how the Polish and Korean industries can work together and how each company complements the other. The factory will increase Poland's independence in ammunition production and provide huge potential for industrial and economic growth. We expect the plant to become a supply centre not only for the Polish armed forces but also for the armies of other European countries. I want to point out that it will be a Polish company operating by Polish law and paying taxes in the country. The joint venture will employ Polish engineers and workers and create a supply chain in Poland and the broader European market.” said Piotr Wojciechowski, Chairman of WB Group.

The joint venture will be responsible for fulfilling the requirements for producing 80km-range CGR-80 guided missiles for the Homar-K, a Polish version of the K239 Chunmoo MRLS, under another executive contract for the Homar-K. It is also focused on jointly marketing the guided missiles to neighboring countries in Europe.

Hanwha Aerospace has signed two executive contracts since 2022 on the supply of 290 Chunmoo rocket artillery systems that can fire both 80km- and 290km-range guided rockets.

The Homar-K program exemplifies Hanwha's successful localization efforts in Poland, featuring extensive Polish defense industry participation. Under this program, Polish defense companies oversee the integration and assembly of the long-range rocket launcher system mounted on Polish Jelcz 8x8 chassis. The Homar-K also incorporates the WB-developed Topaz combat management system and other Polish components and subsystems.

 “The latest JV agreement with WB Group is a significant milestone for Hanwha’s continued expansion in the global defence market.” said Mr. Michael Coulter, President and CEO of Hanwha Global Defense. “It also represents Hanwha’s strong commitment to delivering technology edge and sovereign, domestic capacity to our global customers.”

Source : Hanwha Aerospace