Discovering new growth engines for the group, focusing on global business support
Hanwha Group Chairman Kim Seung-yeon will return to management after seven years next month.
Hanwha Group, in which Chairman Seung-yeon Kim set the enemy as unregistered executives at three key companies, including Hanwha Co., Ltd., a parent company and representative aviation and defense company, Hanwha Solutions, a representative chemical and energy company, and Hanwha E&C, a representative construction and service company. It was announced on the 26th that it will serve as chairman.
Chairman Kim’s return to management of the group has been seven years since he resigned from the positions of seven CEOs after being sentenced to three years in prison and five years probation due to his denunciation under the Specific Economic Crime Weighted Penalty Act in February 2014.
He has not been able to return to management for two years since the probation ended in February 2019. However, after the employment restrictions ended on the 18th, Chairman Kim can officially return to management from the 19th.
Hanwha Group explained that Chairman Kim’s role was “planning to focus on establishing future growth strategies for these companies and their business units, and supporting global business.”
Chairman Kim focuses on securing future technologies for the aerospace and defense industry and pioneering overseas markets at Hanwha.
Hanwha Solutions supports the global green energy business while strengthening its capabilities in eco-friendly energy businesses such as green hydrogen energy.
Hanwha E&C plans to enhance competitiveness by cooperating with global construction companies.
Chairman Kim does not serve as a registered officer, but serves as a group chairman as an unregistered executive of a core affiliate of the group.
Hanwha Group said, “Chairman Kim has decided not to serve as a registered officer, considering that Hanwha Group affiliates have already been operated under an independent management system centered on the board of directors for a long time and will continue to develop an autonomous and responsible management system according to the business characteristics of each company.” Explained.
Rather than being involved in the management activities of subsidiaries, it focuses on the role of discovering new future growth engines across the group and supporting global business through overseas networks.
Some believe that the fact that Chairman Kim does not serve as a registered officer has taken into account the fact that his three sons have been advancing to the front line of management.
President Kim Dong-gwan, the eldest son, is the CEO of Hanwha Solutions, which has emerged as a core business of the group. The second son, Dongwon Kim, is in charge of Hanwha Life Insurance. His third son, Kim Dong-seon, also recently returned to Hanwha Energy’s managing director.
In the business world, the succession work for the three sons is expected to accelerate in the future.
Copyright © Shin-A Ilbo Unauthorized reproduction and redistribution prohibited