Hyundai Rotem to acquire Hyundai Wia's defense unit for ₩358.4 billion, bringing K2 main gun and K9 barrels in-house

Hyundai Rotem's board approved on October 19, 2026 the purchase of Hyundai Wia's Special Business Division for 358.386 billion won (about $269 million) through a business transfer covering assets, liabilities, employees and intellectual property. The division makes the 120 mm main gun for the K2 Black Panther, 155 mm barrels for the K9 Thunder, CIWS-II naval close-in weapon systems and remote weapon stations, making Hyundai Rotem the first Korean tank builder to control its own cannon production. The business was valued at 480 billion won, with 117 billion won of land and buildings excluded and leased instead; Rotem will retain all staff and build its own production line later. Hyundai Wia shareholders vote on November 27, dissenters may demand a buyback at 51,811 won per share until December 16, and Wia can withdraw if buyback claims approach 140 billion won. Closing is targeted by March 31, 2027. Hyundai Wia will redirect proceeds to thermal management and robotics, consolidating Hyundai Motor Group's weapons business under Rotem.