00:00Alex, in my conversations with the defense ministers, everybody talked about procurement and accelerating their defense spending.
00:08What are you seeing in terms of what's in demand right now?
00:10Well, I think it's important to note the driver of this.
00:13I mean, the recent conflicts in recent years, whether it's in Ukraine or the current one in Iran,
00:17really shows the need and the necessity for militaries around the world to increase productive capacity and stockpiles of munitions.
00:25That is a lesson they've learned from Ukraine and Iran.
00:28And another driver of this is then the increased defense spending that we're seeing globally.
00:33Who are the new customers you're speaking with?
00:36Well, Hanwha, as you know, is a Korean company.
00:39We, for a long time, have been the top defense contractor in Korea.
00:43And we have a robust export business around the world.
00:46But our model now, what we're really pushing to do now, is to become multinational,
00:51to move productive capacity, not just from the Korean peninsula, not just do it in Korea,
00:56but do it in Europe, do it in the United States.
00:59So I spend a lot of my time in European capitals.
01:02I spend a lot of my time based in D.C., having conversations with the U.S. military,
01:07having conversations with existing customers like Poland and Romania,
01:12and possible new customers from Germany to the U.K.
01:14about how we can, you know, what systems do they need, what type of defense systems,
01:19but also where can we place new productive capacity, leverage workforce,
01:24create new partnerships in these economies to have that productive capacity.
01:27The medium-range missile, your MSAM, has been in focus.
01:32Are you getting new demand from any countries?
01:35Are you in conversations for deliveries?
01:39And to be clear, our MSAM and our LSAM, they're two different missile defense systems
01:43that are integrated.
01:45And they, you know, these have been employed on the Korean peninsula for some time.
01:49They really are high-end and advanced systems.
01:51And we do share that with customers in global markets.
01:56It's high-performing.
01:57We have gotten inquiries.
01:59But, again...
01:59Where from?
02:00Who from?
02:00And how big an order are we looking at?
02:03I think the inquiries are really arising from, again, the conflicts that we've been seeing
02:08and how important missile defense is to the defense and deterrence ability of militaries worldwide.
02:16And as we referenced earlier, demand is outstripping supply.
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