Hanwha Aerospace establishes U.S. entity to expand global LNG business

Hanwha Aerospace has established Hanwha Horizon USA in the United States as the control tower for an LNG business designed to extend the company beyond defense and shipbuilding and marine into integrated energy and security solutions. Led concurrently by Hanwha Shipping CEO James Sagar, the entity will manage procurement, trading and logistics optimization, initially supplying Hanwha Energy's Yeosu LNG power plant when it enters commercial operation in 2029 before expanding to domestic and overseas power generators and energy companies. The strategy combines captive power demand with trading growth and transportation competitiveness, supported by a purchase agreement with U.S. producer Venture Global, a memorandum of understanding with Korea Southern Power to form Team KOREA, and Hanwha Aerospace's A- credit rating from S&P Global Ratings. It also aligns with South Korea's efforts to diversify LNG supplies and deepen energy cooperation with the United States, where U.S. LNG accounted for 26.5% of Korean imports in July.

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