Hanwha Corporation will separate the scatter bomb business from its defense division, the company said on Friday.
The separate company will focus on developing its own technology and production capacity, Hanwha said.
It will also reduce uncertainties from global environmental safety standards and enhance the corporation’s mid- to long-term brand image to secure further growth opportunities and increase shareholders’ value.
“We work to satisfy new standards that meets the standards of the international society,” a company spokesperson said. The company will increase research investment in laser technology and precision guided weapons.
Scatter bomb, or cluster bombs, is a time of munition that releases smaller submunitions. It has been criticized for its high likelihood of causing civilian causalities. Hanwha has been excluded from Norway’s investment list due to it operating the business.
