Hanwha Aerospace Abandons $1B Bid for Poongsan Ammunition Unit

Hanwha Aerospace has halted its review of acquiring Poongsan Corporation's ammunition business, valued at approximately 1.5 trillion won ($1B). The bid faced regulatory hurdles including defense industry and antitrust reviews, as well as shareholder approval requiring a two-thirds majority. The withdrawal ends months of acquisition talks that began in early March 2026.