The case for a Hanwha-KAI merger, from Lockheed Martin to SpaceX

What happened: Hanwha Group is pursuing a potential acquisition of Korea Aerospace Industries, a deal supporters say would combine aircraft manufacturing, engines, radar, missiles and space technologies under one umbrella. Key numbers: Hanwha entities hold a combined 15.9 percent KAI stake after Fair Trade Commission clearance in August, making the group KAI's Why it matters: Backers argue the combination could lift Hanwha's global standing and Korea's ability to compete for major defense contracts, as European rearmament and Japan's export push raise pressure on Korean firms.

Hanwha Group is pursuing a potential acquisition of Korea Aerospace Industries, a deal supporters say would combine aircraft manufacturing, engines, radar, missiles and space technologies under one umbrella.

Backers argue the combination could lift Hanwha's global standing and Korea's ability to compete for major defense contracts, as European rearmament and Japan's export push raise pressure on Korean firms.