The combined market capitalization of Hanwha Group’s listed affiliates has exceeded 150 trillion won. With core affiliates’ stock prices surging simultaneously, led by defense and shipbuilding sectors, the group’s total market cap has more than tripled in about a year.

According to Korea Exchange, the combined market capitalization of 12 listed Hanwha Group affiliates, excluding preferred shares, was calculated at 150.463 trillion won as of 10:30 AM on Jan. 13. This represents approximately a 3.5-fold increase compared to the combined market cap of 42.683 trillion won as of the end of 2024.

Market evaluation suggests this surge in market cap results from performance improvements and growth expectations across core businesses, including defense, shipbuilding, space, and energy, rather than one-time factors.

Hanwha Aerospace has led global capital inflows as defense demand increases, and order achievements have been highlighted simultaneously amid expanding geopolitical risks. Stock prices have surged 226% over the recent year, rising from around 390,000 won to around 1.28 million won, with market capitalization increasing from 18 trillion won to 66 trillion won, securing a position in the top 10 KOSPI market cap rankings. The evaluation is that mid-to-long-term performance visibility has been further enhanced as demand for ground weapon systems such as multiple launch rocket systems has increased due to strengthened rearmament trends centered on Europe and the United States following Donald Trump’s return to the U.S. presidency.

Clear stock strength has also appeared in shipbuilding affiliates. Hanwha Ocean has seen steep stock price increases over the recent year due to expectations of increased warship construction demand following expanded defense needs, plus participation in U.S. shipbuilding industry revival projects. Even this year, stock prices have jumped over 30% on news of considering additional shipyard acquisitions in the United States. Market capitalization, which was around 13 trillion won a year ago, has also increased more than threefold to 45 trillion won as of Jan. 13.

The expansion of investment themes to the overall space industry beyond defense has also supported the market cap growth trend. Hanwha Systems, which operates a satellite business, has seen stock prices jump over 50% in the recent month, with annual returns reaching 250%.

Hanwha Corp., the holding company, has also seen stock prices surge 250% over the recent year as expectations for major affiliates’ performance improvements were reflected in stock prices. Park Jong-ryeol, a researcher at Heungkuk Securities, explained, “Hanwha has built a diverse business portfolio including defense and shipbuilding, energy and chemicals, finance, and machinery and services,” adding, “The favorable trend in performance momentum will likely continue this year due to Hanwha Aerospace’s remarkable progress and Hanwha Life’s stable profit generation.”
Source: Business Korea