Five people died in an explosion at a Hanwha Aerospace factory in South Korea

Five people were killed and two others injured on Monday following an explosion and fire at a factory operated by Hanwha Aerospace in Daejeon, South Korea.

According to authorities, the explosion occurred on a rocket propellant production line. The two survivors managed to leave the scene on their own, but one of them suffered severe burns.

Emergency services reported that the victims' bodies were badly damaged, complicating identification. An investigation has been launched to determine the exact cause of the explosion.

According to initial information released by the company, the accident may have occurred during a cleaning operation of tools used in propellant manufacturing. Water was being used to remove explosive residue when the incident took place, but the precise circumstances remain to be confirmed.

Following the tragedy, Hanwha Aerospace's general manager, Son Jae-il, apologized to the victims' families and promised full cooperation with investigators.

The accident also had repercussions on the financial markets. Shares of Hanwha Aerospace fell by nearly 3% during the session, while those of its parent company also declined.

Hanwha Aerospace is one of the leading South Korean industrial groups active in the defense, aeronautics and space sectors, particularly in the production of engines, launch systems and advanced military equipment.