Market Chatter: Hanwha Systems Wins SAR Satellite Contract for Korea's Microsatellite Constellation

MT Newswires Live10:22

Hanwha Systems (KRX:272210) has won a contract to develop synthetic aperture radar (SAR) satellites for Korea's microsatellite constellation, The Korean Times reported Friday, citing data from the Public Procurement Service.

The defense services arm of Hanwha Group was selected for the SAR satellite development project commissioned by the state-run Agency for Defense Development (ADD), the report said.

The microsatellite development project is a joint initiative involving the defense ministry, the Korea AeroSpace Administration (KASA) and the Korea Coast Guard, the publication said.

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