[email protected]” alt=”Seung-yeon Kim, Chairman of Hanwha Group. By Kim Tae-hyeong, reporter of Seung-yeon Kim, Chairman of Hanwha Group. Kim Tae Hyung <한겨레> Reporter [email protected]
Hanwha Group Chairman Kim Seung-yeon, whose employment was restricted due to unfair behavior, will return after 7 years. We are contemplating whether we will take the lead in management as the CEO of major affiliates, or whether we will exercise behind-the-scenes skills behind our two sons and professional managers who have already risen to the top management. Hanwha is making aggressive investments in future industries such as new and renewable energy and the space industry at the time Chairman Kim’s’shackles’ is released. According to the business community and Hanwha on the 19th, the employment restrictions for Chairman Kim will be lifted on the 18th of next month. In February 2014, Chairman Kim was sentenced to three years in prison and five years probation on charges of inflicting 300 billion won in damages to other companies in the group by unfairly supporting insolvent affiliates. The current Specific Economic Weighted Penalty Act prohibits employment in financial companies or crime-related companies for two years after the probation period when convicted of probation. After the final decision, Chairman Kim withdrew from the representatives of all seven affiliates, including Hanwha Corporation, Hanwha Chemical (now Hanwha Solutions), and Hanwha E&C. The Hanwha side repeats the official position of “nothing has been decided” regarding the return of Chairman Kim’s management, but a different story comes out from the inside. On the premise of a private opinion, a senior Hanwha executive said, “Returning to a registered officer (as in the past) has a lot of work. Other directors within the board of directors (composed of registered executives) may be swung over (to the chairman),” he said. “I know that Chairman Kim is having a last-minute consideration (about the way to return to management).” To become a registered executive, you must go through a general shareholders’ meeting. By the end of next month, when the resolution to convene the shareholders’ meeting is announced, it means that the outline of whether and how Chairman Kim will return will be revealed. There is also a view that it is not famous for Chairman Kim to be the CEO (registered officer). This is because he has been serving as the head of the group throughout the employment restrictions. After the probation ruling in 2014, he went back to work at the headquarters building after nine months, and practically resumed work. In addition to the acquisition of Samsung General Chemical in 2015, he also led the expansion of the aviation, defense, and new and renewable energy business and the capital increase of Hanwha Solutions worth KRW 1 trillion. In 2018, President Moon Jae-in met with Chairman Kim in person to praise Hanwha Qcell’s job expansion. Kim Woo-chan, director of the Economic Reform Association (Professor of Korea University), said, “If you are going to serve as the general manager even after employment restrictions, you should take on the role of a registered executive who is responsible for all legal responsibilities in the management process. There is also an expectation that the head of the seventh-ranking group in the business world will find a role. Chairman Kim pulled up Hanwha Group, which had a total assets of 12.8 trillion won at the time, to a scale of 26.8 trillion won in 6 years through’Big Deal’, which acquired Samsung General Chemical, Samsung Total, Samsung Techwin, and Samsung Thales from Samsung Group in 2014. It is evaluated that it has been uploaded. The business ranking, which was 10th in 2015, is also rising to 7th as of last year. Recently, it is expanding its scope to future businesses such as solar and hydrogen fuels, aerospace, defense, and digital finance, which are considered the next generation of energy. Since the beginning of this year, Hanwha has been aggressively expanding its business, such as establishing a joint venture with a global energy company Total of 2 trillion won by its subsidiary Hanwha Energy, and acquiring a stake in Setrec I, the only satellite manufacturing company in Korea. Hanwha Solutions, which will take over the hydrogen and solar energy business, plans to invest 2.8 trillion won for five years starting next year. Through Hanwha Aerospace and Hanwha Systems, they are also engaged in the satellite and air taxi business. In his New Year’s address on the 4th, Chairman Kim said, “Please preempt future growth opportunities in new businesses such as future mobility, aerospace, green hydrogen energy, and digital financial solutions.” By Hong Seok-jae, staff reporter [email protected]