🧅 Yangpa's Briefing: The Dream of Aviation Engine Independence, Daejeon Plant Investigation, and Mixed Momentum! - 2026.06.09

Hello, Hanwha Aerospace shareholders! This is Yangpa, the macro bull market reporter. I haven't been watching the market for 30 years for nothing~ Looking at how the market is turning these days, the bell of opportunity is ringing!

🚀 The Heart of K-Defense, Flight Towards Aviation Engine Independence

• Changwon Plant 1 went into full operation starting this April! They are assembling the F414 engine for the KF-21 supersonic fighter and the F404 engine for the FA-50 here ^[1].
• Currently, we are producing them by introducing technology from GE in the US, but securing an independent aviation engine supply chain is essential for true export freedom ^[2].
• Together with the government, they are developing a 5,500 lbf class engine for unmanned aerial vehicles aiming for deployment in the mid-to-late 2030s, and taking on the challenge of independently developing a 15,000 lbf class engine for next-generation fighters by 2040 ^[1].
• Our accounts will spin fast only when the engines are spinning fast~ It's not the time to just 'enjoy' making excuses about the 'engine'! Spot on, spot on!

🔥 Full-Scale Investigation into Daejeon Plant Explosion, Tunnel of Uncertainty

• It's unfortunate news, but we have to address it. To determine the cause of the Daejeon plant explosion that occurred on the 1st, police and the National Forensic Service conducted an additional joint inspection on the 9th ^[3].
• Labor authorities booked CEO Son Jae-il on charges of violating the Serious Accidents Punishment Act, and the police booked the plant manager on charges of occupational negligence resulting in death or injury, accelerating the investigation ^[4].
• If a violation of the Occupational Safety and Health Act is recognized, there is a possibility that new bidding for government-ordered military supplies could be restricted for up to a year ^[5].
• However, because the defense industry typically takes decades from order to delivery, analysts say that even if new bidding is temporarily restricted, the impact on procurement itself may be limited ^[5]. Ahem, even amidst bad news, we need to look at the facts objectively!

📈 Opening of the Space Era and Solid Order Momentum

• A massive macro event is waiting this week. The news that SpaceX's IPO is scheduled around the 12th! ^[7].
• As the low-earth orbit satellite era begins in earnest, this could be a massive momentum for Hanwha Aerospace, which tightly holds the space value chain ^[7]. No time to hesitate when going to space! Going to space (uju) might bring superior (usu) results~
• Furthermore, we heard news of signing an additional supply contract worth 4.2 billion won with SEC, a defense inspection equipment company. With the current defense order backlog at twice last year's revenue, the order vault is very solid ^[6].

Yangpa believes that, looking at the massive cycle of aviation engine localization and space industry expansion beyond short-term noise, Hanwha Aerospace's mid-to-long-term bullish scenario is clear.

What did I tell you~ The more things shake, the more you should look at the fundamentals! I'll be back next time with news that smells strongly of money!

📰 Reference News (6)

1

"Precision Down to 1/100th of a Hair"... Aiming for Engine Independence Beyond KF-21 [Core Power KOREA]

네이버뉴스 · 2026.06.09

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2

'90% Localized' K2 Hits Jackpot with Fast Delivery... "Independent Supply Chain is Key to Exports"

네이버뉴스 · 2026.06.09

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3

Additional Joint Inspection at Hanwha Aerospace... Residues to be Collected for Detailed Analysis

네이버뉴스 · 2026.06.09

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4

Hanwha Aerospace CEO Booked for Violating Serious Accidents Punishment Act

네이버뉴스 · 2026.06.09

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5

[Exclusive] Hanwha Aerospace Could Face 1-Year Ban on Defense Contracts if OSHA Violation is Confirmed

네이버뉴스 · 2026.06.09

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6

SEC Secures Additional Order from Hanwha Aerospace... Defense Backlog Doubles Last Year's Sales - Money Today

머니투데이 · 2026.06.09

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📺 Reference Videos (1)

7

YouTube

SpaceX IPO Countdown... Korean Space Industry Enters Earnings Phase | Baek Jong-min, Yuanta Securities

▶한국경제TV·2026.06.08