Hanwha in Advanced Talks Over Arms Production for Saudi Arabia

Hanwha Aerospace Co. is in advanced discussions with Saudi Arabia over potential arms collaboration as the Middle East becomes the company’s main focus, according to the head of its global defense business.

The burgeoning opportunities in the region are a major reason South Korea’s largest defense contractor decided to announce a share-sale plan last month to raise funds, said Michael Coulter, who was named global defense president and chief executive officer at Hanwha at the end of last year.

“We’re in discussions both in Saudi Arabia and the United Arab Emirates right now about programs that will create capacity ...