Three Hanwha defense affiliates are extending their sponsorship of the Korea-U.S. Alliance Foundation and the Korean Defense Veterans Association by another five years.
Hanwha Aerospace (012450.KS), Hanwha Systems (272210.KS) and Hanwha Ocean (042660.KS) said on the 13th that they signed a third sponsorship agreement with the two organizations in Washington, D.C. The agreement runs for five years starting next year.
Hanwha has supported the Korea-U.S. Alliance Foundation and the Korean Defense Veterans Association since the groups were founded in 2017. The latest agreement brings the total sponsorship period to 15 years.
Under the agreement, the two organizations will work to strengthen ties among active-duty and retired service members and their families in both countries, as well as those who served with U.S. Forces Korea, and to promote exchanges between the governments, militaries, legislatures and private sectors of the two nations.
Attendees at the signing ceremony included Lim Ho-young, chairman of the Korea-U.S. Alliance Foundation; Robert Abrams, president of the Korean Defense Veterans Association; Lee Boo-hwan, chief executive of Hanwha Aerospace; and Michael Coulter, CEO of Hanwha Defense USA.
"Hanwha has been a steadfast partner that has shared the values of the Korea-U.S. alliance," Lim said. "We will continue to pursue a range of substantive projects to carry on and advance the value of the alliance."
Lee said the Korea-U.S. alliance "has been a firm pillar safeguarding South Korea's peace and security for more than 70 years," adding, "We will do our utmost to contribute to the security of both countries and the development of the alliance."