By Kwanwoo Jun
Hanwha Aerospace's shares rallied on Monday, after the defense company secured a contract to help build spacecraft for South Korea's lunar exploration mission.
The company's stock climbed 9.1% to close at 949,000 won, equivalent to $657.96, the sharpest daily gain in more than nine months. By comparison, the benchmark Kospi finished 2.2% higher.
Earlier in the day, Hanwha said that it had signed a contract valued at 103.30 billion won, equivalent to $71.6 million, with the Korea Aerospace Research Institute to help the state agency build a propulsion system for its spacecraft to land on the moon by 2032.
Hanwha said it will develop, assemble and test engines and altitude-control thrusters for the KARI lunar lander under the latest contract. Hanwha has already been working with KARI on space rocket launches.
The rally also came as Korea Exchange, which on Monday eased the rules on issuing investment warnings for large-cap stocks, removed Hanwha from the list of volatile shares and lifted an investment warning on the stock.
Hanwha shares have risen more than 10% over the past month, nearly tripling this year.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com
(END) Dow Jones Newswires
12-29-25 0247ET
