Hanwha raises KAI stake to 9%, becomes No. 2 shareholder

Hanwha Group affiliates have raised the group's stake in Korea Aerospace Industries to 9.04 percent, becoming the second-largest shareholder after the state-run Export-Import Bank of Korea and further solidifying Hanwha’s ambitions in the aerospace and defense sectors.

Hanwha Aerospace, the group’s key defense unit, said Tuesday it acquired 3.02 million shares of KAI for 499.9 billion won ($332 million), bringing its total holdings to 6.33 million shares, or a 6.5 percent stake.

Another affiliat ...