Hanwha Aerospace and Hanwha Energy partner with Korea Southern Power to develop global LNG value chain
Hanwha Aerospace and Hanwha Energy sign MoU with Korea Southern Power to advance global LNG value chain development
Executives from Korea Southern Power, Hanwha Aerospace, and Hanwha Energy at the LNG Team Korea MoU signing
Hanwha Aerospace has signed a memorandum of understanding with Hanwha Energy and Korea Southern Power to strengthen cooperation in the global liquefied natural gas (LNG) sector and advance the development of an integrated LNG value chain.
The signing ceremony, held at The Plaza Hotel in Seoul, marks the start of a new public–private collaboration to secure competitive LNG procurement and diversify supply sources. The agreement is designed to strengthen Korea’s access to U.S. LNG in a more favorable trading environment and to address the need for stable energy supply chains amid heightened geopolitical risks and global market uncertainty.
Under the agreement, the three companies will collaborate on joint procurement of U.S. LNG, enhance domestic supply stability through LNG swaps, and expand information sharing in the global LNG market. Hanwha Aerospace and Hanwha Energy will leverage Hanwha Ocean’s LNG carrier fleet to create an integrated LNG value chain from sourcing to transportation and delivery, with the aim of strengthening order potential and generating synergies across the Hanwha Group.
Last year, the company invested approximately KRW 180.3 billion (USD 130.3 million) to acquire a 6.83% stake in U.S. LNG developer NextDecade Corporation, further expanding its presence in the North American LNG sector.
“We will extend the technology and global networks we have built in the defense sector into the energy field to contribute to national energy security,” said Jaeil Son, President and CEO of Hanwha Aerospace. “Based on our cooperation with Korea Southern Power, we will expand projects that strengthen Korea’s energy stability and support economic growth.”
“Through this agreement, we will bring together the capabilities of the private and public sectors to respond to the changing global LNG market,” said Jae Kyu Lee, CEO of Hanwha Energy. “We expect LNG imports and swaps to strengthen both the stability and flexibility of our partnership.”
“Amid recent geopolitical risks such as conflicts in the Middle East and changes in the external environment, enhancing competitiveness in direct LNG imports through collaboration with the private sector is highly meaningful,” said Jun-Dong Kim, CEO of Korea Southern Power. “I hope this agreement will serve as a cornerstone for practical cooperation, such as joint procurement of U.S. LNG, that will contribute to the national economy.”
Hanwha Aerospace
Founded in 1977 in South Korea, Hanwha Aerospace is a trusted global provider of transformative solutions that now extend beyond aerospace to the defense and marine sectors. With an unwavering focus on customer-centric quality management, continued innovation, and product competitiveness reinforced by advanced technologies, Hanwha Aerospace is surging forward as a world-class leader in the burgeoning space and aerospace businesses, as well as in the land, sea, and air defense industries.
For more information, visit: www.hanwhaaerospace.com/eng
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