SEOUL - Five people have died and two others were injured on Monday after an explosion and fire on a South Korean production line for rocket propellant at a factory operated by Hanwha Aerospace in the city of Daejeon, officials said.
Incident Details
The two survivors, including one who was badly burned, had escaped from the facility themselves, a fire official told a briefing. “Authorities have yet to identify the victims because their bodies were severely damaged,” a health official said during the same briefing.
Investigation Underway
A fire official confirmed that an explosion had triggered the blaze, though the cause of the blast was still being investigated. The blast appeared to have occurred while water was being used to clean explosive material from tools making rocket propellant, a Hanwha official told a company briefing.
Market Reaction
Shares in Hanwha Aerospace fell 2.8% in afternoon trade, while the holding company Hanwha Corp saw its shares drop 3.4%.
Company Apology
“We bow our heads in apology to the victims and their bereaved families,” said Chief Executive Officer Son Jae-il, pledging to cooperate fully with authorities to determine the cause of the accident.
This tragic incident adds to a series of industrial accidents in South Korea, prompting renewed calls for stricter safety regulations.
