[팍스넷뉴스 정혜인 기자] It is pointed out that Kim Seung-yeon, chairman of Hanwha Group, lacks responsible management in his return method. The reason is that he is working as a’unregistered executive’ who is not responsible for this, although it is expected to exert a strong influence while preparing for the group’s future planning and succession work.
From this month, Chairman Seung-Yeon Kim will be the unregistered executive of Hanwha Corporation, Hanwha Solutions, and Hanwha E&C. This is a return after seven years after resigning from the positions of seven representative directors after being sentenced to three years in prison and five years probation for denunciation under the Weighted Punishment Act for Specific Economic Crimes in 2014.
The problem is that it is being pointed out that while deeply involved in management, it is trying to avoid liability for illegal activities and management failures. Registered directors form the board of directors to make decisions on important management activities, such as transfer of important assets, borrowing of large-scale assets, and approval of mergers and acquisitions, and at the same time take legal responsibility for decision-making. On the other hand, unregistered executives cannot participate in the board of directors, but they are not liable for illegal acts committed by the company. In addition, it is not easy for shareholders to collect voting rights and impose sanctions such as preventing succession.
An industry insider said, “Chairman Kim is expected to lead the group mergers and acquisitions (M&A) to discover Hanwha’s future food business, and the M&A decision is made by the board of directors.” It is correct to lose until,” he pointed out. He added, “The owner’s lack of responsible management can be a deduction factor for environmental, social, and governance (ESG) evaluations.”
Chairman Kim is expected to speed up the succession work with this return. In general, succession work involves making serious management decisions, such as IPOs of affiliates, that can lead to changes in governance.
Chairman Kim’s three sons are involved in management by working at Hanwha Solutions, Hanwha Life Insurance, and Hanwha Energy. However, it has not yet transferred the stake to them. Chairman Kim owns a 22.6% stake in Hanwha Corporation, a holding company. Kim Dong-gwan, president of Hanwha Solutions, owns 4.4% of Hanwha Corporation, and Dongwon Kim and Dongseon Kim each have 1.67%. They also own 4.2% of Hanwha Corporation’s shares through H Solutions, an affiliated company that jointly owns shares. Among the current owners, President Kim Dong-gwan is the only person in the family who is working as a registered executive of key affiliates of the group, such as Hanwha Corporation, Hanwha Solutions, and Hanwha Life Insurance.
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