SEOUL: Hanwha Aerospace Co. is in advanced discussions with Saudi Arabia over potential arms collaboration as the Middle East becomes the company’s main focus, according to the head of its global defence business.
The burgeoning opportunities in the region are a major reason South Korea’s largest defence contractor decided to announce a share-sale plan last month to raise funds, said Michael Coulter, who was named global defence president and chief executive officer at Hanwha at the end of last year.
