Seoul: Defense giant Hanwha Aerospace Co. announced it has secured a significant contract valued at 705.4 billion won (US$481.5 million) with the state defense procurement agency to supply critical components for the long-range surface-to-air missile (L-SAM) interception system.

According to Yonhap News Agency, the contract with the Defense Acquisition Program Administration allows Hanwha to commence mass production of L-SAM launchers and anti-ballistic missiles (ABMs), with the project scheduled to continue through 2030. Hanwha revealed that its ABMs would feature a divert and control system, enhancing their capability to intercept ballistic missiles at high altitudes.

Hanwha highlighted that the L-SAM is Korea's first long-range missile defense system to integrate these advanced technologies, allowing for precise interception of ballistic missiles at very high altitudes where traditional aerodynamic control proves ineffective. This advancement marks a significant milestone in Korea's defense technology development.

The company also expressed its intention to explore opportunities for exporting the L-SAM system to other countries, leveraging the technologies and experience acquired through this substantial deal.