Hanwha Aerospace to launch US entity for LNG business

Hanwha Aerospace, a Korean defense firm, is launching a U.S. entity called Hanwha Horizon USA to handle its liquefied natural gas (LNG) business. This move is part of Hanwha's effort to expand its presence in the global energy supply chain. The new entity will oversee various aspects of LNG operations, including procurement, sales, trading, and logistics, and will initially supply LNG to one of Hanwha's power plants in Korea. This development could strengthen Hanwha's position in the global energy market and potentially impact trade between the U.S. and Korea.

Why it matters

Hanwha Aerospace is expanding its LNG business into the US market. This could increase the company's revenue and competitiveness in the global LNG industry.

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