Hanwha Systems invests in U.S. unmanned aircraft firm
SEOUL, Dec. 6 (Yonhap) -- Hanwha Systems Co., the defense industry unit of Hanwha Group, said Friday it will invest in U.S. unmanned aircraft firm OverAir Ltd. to partner in the personal air vehicle (PAV) business.
Hanwha Systems will purchase a 30 percent stake in OverAir for 29.8 billion won (US$25 million) on Jan. 3, the company said in a regulatory filing.
The two companies will jointly develop PAVs and advance into new mobility markets, the filing said.
The Committee on Foreign Investment in the United States (CFIUS) recently approved the deal. CFIUS is an interagency committee of the U.S. government that reviews the national security implications of foreign investments in U.S. companies.
kyongae.choi@yna.co.kr
(END)
-
Defense chief says N. Korea's hypersonic missile 'unsuccessful' in last-stage glide flight
-
Relax, immerse yourself in scents at Venice Biennale's Korean Pavilion
-
Overdue debut of Korean abstract art pioneer Yoo Young-kuk at Venice Biennale
-
N. Korea has capability to genetically engineer biological military products: U.S. report
-
PPP lawmaker says entire Cabinet should resign over general elections defeat
-
Relax, immerse yourself in scents at Venice Biennale's Korean Pavilion
-
Overdue debut of Korean abstract art pioneer Yoo Young-kuk at Venice Biennale
-
Defense chief says N. Korea's hypersonic missile 'unsuccessful' in last-stage glide flight
-
Questioning necessary for Kakao founder for suspected stock rigging: prosecution
-
(LEAD) Yoon vows to improve communication with people after election defeat
-
(4th LD) Finance chiefs of S. Korea, U.S., Japan recognize 'serious' concerns over 'sharp' won, yen depreciation
-
S. Korea to provide 100,000 tons of rice to 11 nations
-
Yoon, Daegu mayor met to discuss post-election matters: sources
-
Facebook page unveils photos of BTS member V in counter-terrorism unit gear
-
S. Korea to provide US$200 million in humanitarian aid to Ukraine this year