Hanwha Group Chairman Kim Seung-yeon called on executives and employees to “be wary of Hanwha yesterday and always be new” to mark the 70th anniversary of the group’s foundation. It then presented “a company promising a sustainable future” and “a company that challenges and grows together” as a blueprint for Hanwha for 100 years.
Hanwha Group announced on the 11th that Chairman Kim delivered the commemorative speech through an in-house broadcast at the “70th Anniversary Event” held on the 9th. On the same day, affiliates of Hanwha Group celebrated the 70th anniversary of its foundation by holding rewards for long-term workers for each company.
Chairman Kim evaluated the past 70 years, saying, “Hanwha’s past 70 years have been a history of expanding the industrial landscape of Korea through constant challenges and pioneering.” In particular, in order to move toward a company for the next 100 years, he stressed the need for continuous innovation that is not conceited by the past success, saying, “We should be wary of yesterday’s Hanwha and always be new.”
Since its foundation in 1952, Hanwha Group has succeeded in localizing gunpowder under the founding ideology of the “Business Bureau,” leading the post-war reconstruction process. It also played a part in modernization of Korea by expanding businesses centered on key industries such as machinery, petrochemicals, and energy. Recently, it has contributed to the national interest by expanding exports to the defense industry and entering the space industry.
Chairman Kim also called for challenging reforms, saying, “If necessary, let’s break down the success equation so far and lead a new paradigm.”
In fact, Hanwha Group is focusing on strengthening synergy between businesses and discovering new growth engines through continuous business reorganization and investment.
Hanwha Solution, which was launched in 2020, is creating achievements that attract attention in the global market. It has signed financial cooperation with the Korea Development Bank up to $3.48 billion and is stepping up efforts to lead global green energy markets such as solar and hydrogen.
In addition, through the reorganization of the defense industry centered on Hanwha Aerospace, it is taking off as a comprehensive defense company in name and reality from the ground to aviation space. Recently, it has been taking over Daewoo Shipbuilding & Marine Engineering and is also focusing on the role of companies that protect key national industries and strengthen their competitiveness. Recently, it is a partner company for Korean satellite projectiles.It is also a leading company that exports Korean-style weapons
Since the launch of the group’s ESG committee in May last year, it has set up ESG committees in major affiliates, including finance and manufacturing, publishing sustainability reports, and establishing a governance charter.
Chairman Kim also did not forget to thank executives and employees for their hard work until the 70th anniversary of this year. Chairman Kim said, “The group’s growth was possible because of the Hanwha spirit of “credit and loyalty,” adding, “The dedication of executives and employees who protected and developed the Hanwha spirit created the current Hanwha.”
He then stressed, “Let’s create a company where all executives and employees develop their dreams together through fair evaluation, compensation, and bold recruitment and selection.”
EJ SONG
ASIA JOURNAL
