Hanwha Aerospace Co., Ltd., formerly Hanwha Techwin Co Ltd, is a subsidiary of Hanwha Group, is an aerospace industrial company headquartered in Changwon, South Korea. It was established in 1977 as Samsung Precision. The company is Korea's only gas turbine engine manufacturer, and specializes in the development, production and maintenance of aircraft engines. In 1979, it started the aircraft engine business with gas turbine engine depot maintenance business, providing various gas turbines to Korea and all over the world and by 2016 the company had produced more than 8,000 pieces of equipment.[4]
History
Samsung Precision (1977)
Established in 1977 as Samsung Precision Industry, the company produced its first missile propulsion system in its first year of operation. In 1978, it established its first factory and precision machinery R&D institute in Changwon. In 1979, it began production of gas turbine engines for aircraft and started a joint venture with Minolta, Japan to produce cameras. After the completion of its second factory in Changwon in 1980, the company began producing aircraft components in 1981. In 1982, it achieved the first localization of aircraft components. In 1983, it acquired a part of the heavy equipment factory of Korea Heavy Industries, and produced a multi-joint assembly robot in 1984, followed by the establishment of Samsung United Airlines in a joint venture with Pratt & Whitney of the United States in 1985.