Hanwha Aerospace to invest €100M in Estonia’s defence industry
Estonia cooperates extensively both within NATO and with a wider block of allies. This week, South Korean defence giant Hanwha Aerospace has announced a direct investment package of nearly €100M in Estonia, with the total economic impact — including joint R&D activities with local companies — projected to reach up to €260M. The investment aims to strengthen Estonia’s technological sovereignty and establish the country as a regional hub for territorial defence systems.
The announcement builds on a deepening bilateral relationship. In late 2024, Estonia signed a €290M contract with Hanwha to procure at least six Chunmoo multiple-launch rocket systems alongside three types of munitions. Hanwha had previously delivered six K9 Thunder self-propelled howitzers to the Estonian Defence Forces, making it one of Tallinn’s most significant defence procurement partners. Defence Minister Hanno Pevkur noted that Hanwha is also among the potential bidders for Estonia’s upcoming naval overhaul.
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Originally published on 6 Mar
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