According to Reuters, South Korea's Hanwha Aerospace said on Wednesday it won a 1.38 trillion won ($1 billion) order from Romania to supply self-propelled howitzers. The deal is Romania's largest arms acquisition deal in seven years and includes 54 K9 howitzers, ammunition and 36 K10 resupply vehicles, South Korea's largest defence company by revenue said. The contract lasts until July 2029, Hanwha Aerospace said. The South Korean arms procurement agency, Defense Acquisition Program Administration, confirmed the details of the deal in a separate statement. Hanwha Aerospace shares rose more than 5% to a record high in early morning trade, versus a 0.1% drop in the wider market. Overseas orders for Hanwha have jumped since Russia's invasion of Ukraine in 2022 as countries sought to bolster their arms with quick, reliable supply, analysts said. Hanwha's land defence business has seen its order backlog swell to about 30 trillion won at the end of March this year from 5.1 trillion won at end-2021. Analysts said South Korean defence firms are able to ship arms quickly with lower costs and provide continual maintenance partly due to the economy of scale from supplying the standing armed forces in South Korea, which is still technically at war with North Korea. Hanwha now holds more than 50% share of the global market for howitzer exports, according to data by NH Investment & Securities. "Given that the end of a war does not mean an end to the growth of defence spending, and that (U.S. presidential candidate Donald) Trump explicitly demanded that NATO and other European countries increase their share of defence costs, opportunities are expected to expand" for South Korean defence firms, said Meritz Securities analyst Lee Ji-ho in a note on Tuesday.
SoNoRo Musikland, the chamber music festival celebrating the architectural heritage of Transylvania, has scheduled this year concerts in Sibiu and Copșa Mare, in addition to Cincu, Saschiz, Meșendorf, Criț, Viscri, Codlea, Făgăraș, and Brașov. This year's program spans 16 days and 23 events, comprising 16 concerts, two jam sessions, and five concerts for children held […]
The General Prosecutor's Office sent to trial former presidential candidate Călin Georgescu for promoting the cult of war criminals and spreading fascist, legionary, racist, and xenophobic ideas, News.ro...
DP World has inaugurated the first drive-through cargo scanner in Central and Eastern Europe at its RO-RO terminal in the Port of Constanța. According to the company, the new system significantly cuts truck inspection times, boosting trade efficiency across the region. The high-tech scanner reduces inspection times for import and transit trucks from up to […]
Quality of life and social well-being slightly improved in Romania in 2024, while it stagnated or declined in the majority of the countries globally, according to the Social Progress Index, measured in 170 countries worldwide by the non-profit organization Social Progress...
Intelligent process automation solutions provider FWF, part of the AROBS Group, has been recognized by Romanian-born unicorn UiPath, a global leader in agentic automation, as an Agentic Automation Fast Track Partner, joining an elite group of UiPath partners. The distinction recognizes FWF by AROBS’s commitment to being at the forefront of innovation in enterprise automation, […]
Only 27.7% of Romanians had basic digital skills in 2023, below the EU average of 55.56%, according to the Digital Decade 2025 Country Report – Romania, conducted by the European Commission. In Romania, the authorities responsible for building a digital skills framework for public...
