Seoul, April 27 (IANS) Hanwha Systems Co., the defense solutions arm of Hanwha Group, said on Monday it swung to a net loss in the first quarter from a year earlier, citing substantial equity losses tied to its US shipyard investment.For the three months ended March, the company reported a net loss of 95.75 billion won ($65 million), compared with a net profit of 24.36 billion won a year earlier, reports Yonhap news agency.The decline was largely attributed to increased equity losses from Hanwha…
Latest Make American Shipbuilding Great Again (MASGA) News & Updates
Washington, Feb 14 (IANS) US President Donald Trump’s administration has unveiled an action plan to rebuild America’s shipbuilding industry, pledging to continue “historic” cooperation with South Korea and Japan, and proposing a strategy enabling the first ships in a contract to be built in an allied foreign shipyard.The White House released “America’s Maritime Action Plan,” as Seoul and Washington are pushing to strengthen cooperation under the former’s “Make American Shipbuilding Great Again (…
Washington, Dec 23 (IANS) US President Donald Trump has said that South Korea’s Hanwha will work with the US Navy for the construction of new frigate warships as he announced plans to build a new “Trump-class” of battleships.The remarks come as South Korea has sought to deepen shipbuilding cooperation with the United States through its key shipbuilders, including Hanwha Ocean Co, reports Yonhap news agency.”Last week, the Navy announced a brand new class of frigate and they’re going to be workin…