Hanwha Corporation (KOSE:A000880) entered into an agreement to acquire Hanwha Precision Machinery Co., Ltd. from Hanwha Aerospace Co., Ltd. (KOSE:A012450) for KRW 525 billion on July 29, 2022. The expected closing date is January 3, 2023. As of December 28, 2022, The expected closing date has changed to May 31, 2023. As of May 25, 2023, transaction is expected to close on December 31, 2023.

Ernst & Young, Korea, Financial Advisory Arm acted as financial advisor to Hanwha Aerospace Co., Ltd.

Hanwha Corporation (KOSE:A000880) cancelled the acquisition of Hanwha Precision Machinery Co., Ltd. from Hanwha Aerospace Co., Ltd. (KOSE:A012450) on September 26, 2023.