Hanwha Aerospace CEO Son Jae-il, right, and WB Group President Piotr Wojciechowski shake hands after signing a memorandum of understanding in Poland, in this photo provided by Hanwha Aerospace, Sept. 4. Yonhap

Hanwha Aerospace, a defense and aerospace unit under Hanwha Group, said Thursday it has signed a memorandum of understanding (MOU) with Polish defense firm WB Group as part of its plans to produce guided rockets for homegrown Chunmoo multiple launch rocket systems (MLRS) in Europe.

Under the MOU, Hanwha Aerospace and WB Group will explore the possibility of establishing a joint venture to produce the 80-kilometer-range guided missile (CGR-80) for the Homar-K, the Polish variant of the Chunmoo, in Poland.

WB Group currently supplies automatic fire control systems and communication equipment for the Homar-K.

The MLRS, designed to counter North Korean artillery threats, is one of the Korean weapons systems Poland has bought to bolster its defenses following the Russia-Ukraine war.

Hanwha Aerospace said the collaboration with WB Group will help expand its arms exports to Europe by strengthening localization efforts.

Poland is a key strategic region for the Korean company as it aims to penetrate the North Atlantic Treaty Organization (NATO) defense market, it added.

So far, Hanwha Aerospace has signed contracts with Poland to export 290 units of Chunmoo launchers and CGR-80 and 290-km-class (CTM-290) guided missiles.

"Through localization, we will strengthen our position as a global defense company by actively responding to growing security needs in Europe and contributing to the alliance between Korea and Poland," CEO Son Jae-il said. (Yonhap)