Singer Kim Ho-joong’s stake in agency valued at about 5 billion won while he serves prison term Singer Kim Ho-joong, who is serving a prison sentence after being convicted in a drunk hit-and-run case, still holds a sizable equity stake in his affiliated company, according to entertainment industry reports. On 22, industry sources said Kim owns 7.43% of ArtMNC. The stake is estimated to be worth about 5 billion won. Kim’s agency, formerly known as Saenggak Entertainment, changed its name to ArtMNC after the 2024 Kim case and has pursued a diversification strategy beyond its artist-management focus, the reports said. The company has expanded into areas such as health care and media content based on intellectual property. It acquired the diet health supplement brand “Deepte 3 Days” and brought in the K-culture platform company “StudioMNC,” moving toward a broader entertainment group spanning manufacturing, distribution and media. The industry has noted that the company’s value has risen compared with before Kim’s crash, suggesting it has moved beyond “artist risk,” the reports said. Kim was arrested and indicted after a May 2024 crash on a road in Apgujeong-dong, Seoul’s Gangnam district, in which he hit a taxi coming from the opposite direction and fled, according to the reports. He was convicted of charges including dangerous driving causing injury under the Act on the Aggravated Punishment of Specific Crimes and is serving a 2 1/2-year prison term.* This article has been translated by AI. 2026-04-22 17:00:17

Foreign Money Pours Into Samsung, SK Hynix as Korea Stocks Rally on Semiconductors The Kospi extended its run of record highs for a second straight session, easily clearing the 6,400 level. With uncertainty lingering over whether the war in the Middle East will end, the rally has been clear, but caution has also grown. The gap between the headline index and individual stocks has widened, with gains increasingly concentrated in the market’s two largest semiconductor names, Samsung Electronics and SK Hynix. About 40% of combined buying by institutions and foreign investors has flowed into the two stocks, and the exchange-traded fund market is also being reshaped around semiconductors. Analysts said the concentration could intensify further if a 2x leveraged ETF tied to Samsung Electronics and SK Hynix launches in late May. Semiconductors drive most of Kospi market-cap gains 22일 Korea Exchange data showed that as of April 21, when the Kospi set a record, Samsung Electronics’ market capitalization stood at 1,280.335 trillion won and SK Hynix’s at 872.348 trillion won. Their weights in the Kospi were 24.45% and 16.66%, respectively, putting their combined share above 40%. At the end of last year, their weights were 20.41% and 13.63%, meaning they rose 4.04 percentage points and 3.03 percentage points in a little over four months. From Dec. 30 to April 21, the Kospi’s total market capitalization increased by 1,758 trillion won. Over the same period, Samsung Electronics and SK Hynix together accounted for 967 trillion won of that increase, more than 55%. Nearly 70% of April foreign net buying went to the two chipmakers From April 1 to 21, institutions posted net purchases of 5.68 trillion won in the domestic stock market. Samsung Electronics (1.784 trillion won) and SK Hynix (555 billion won) made up 41% of that total. Foreign investors were even more concentrated. Of their 4.999 trillion won in net buying over the same period, nearly 70% went to Samsung Electronics (2.165 trillion won) and SK Hynix (1.319 trillion won). The strength in large semiconductor stocks has also widened the gap between the Kospi and the Kosdaq. The Kospi’s market capitalization rose 50% from 3,477.8404 trillion won at the end of last year to 5,236.2070 trillion won, while the Kosdaq grew 29% from 505.9260 trillion won to 653.0304 trillion won. As of April 21, Kosdaq’s top company by market value, EcoPro, was valued at 22.2270 trillion won, below the level of the Kospi’s 40th-largest company, SK Innovation, at 22.5690 trillion won. Semiconductor-heavy ETFs gain popularity The semiconductor tilt is also showing up in ETFs. Asset managers have been rolling out products that hold Samsung Electronics and SK Hynix as core positions, stepping up competition in semiconductor-focused ETFs. The “RISE Samsung Electronics SK Hynix Bond Mixed 50 ETF,” listed in February, surpassed 1 trillion won in net assets as of April 20, setting the fastest record among domestic bond-mixed ETFs. Samsung Asset Management, Hana Asset Management and Kiwoom Investment Asset Management have launched similar products. Mirae Asset Management introduced the “TIGER Semiconductor TOP10 Covered Call Active ETF,” which concentrates on semiconductor companies while using a covered-call strategy. Korea Investment Management is running the “ACE AI Semiconductor TOP3+ ETF,” which invests about 75% in three stocks: Samsung Electronics, SK Hynix and Hanmi Semiconductor. Leveraged ETF launch in May could accelerate inflows Market participants expect the concentration to deepen, particularly with a leveraged ETF tied to Samsung Electronics and SK Hynix scheduled for late May. Analysts said leveraged products can amplify inflows and outflows as prices move, potentially reinforcing the large-cap-driven trend. Many in the market expect semiconductor strength to persist, citing improving earnings expectations rather than flows alone. This month, major domestic securities firms raised profit forecasts for the semiconductor sector, projecting continued increases in average selling prices centered on high-bandwidth memory, or HBM. Kim Dong-won, a researcher at KB Securities, said, “Companies’ adoption rate of AI agents will rapidly expand from 5% in 2025 to around 40% by the end of 2026,” adding that “memory is emerging as a key factor that determines overall AI system performance.” A financial investment industry official said, “As long as the AI investment cycle continues, it will be difficult for semiconductor-centered fund flows to reverse easily,” and added, “With the expansion of the ETF market, the concentration in large-cap stocks is being structurally reinforced.” 2026-04-22 16:55:52

EVs Emerge as Grid Assets as Global Race to Commercialize V2G Accelerates As interest in electric vehicles rises again amid the war involving the United States and Israel and Iran, major countries are moving faster to use EVs as core infrastructure in domestic energy systems, industry officials said. Automakers and other sources said efforts are expanding in South Korea, the United Kingdom, the United States, Japan and the Netherlands to treat EVs as power assets, not just transportation. The push centers on vehicle-to-grid, or V2G, technology, which links EV batteries with the power grid so electricity can flow both ways. V2G can be implemented in EVs equipped for bidirectional charging and discharging, along with power control and communications functions. Under the model, vehicles charge during low-demand periods such as late at night and supply electricity back to the grid during peak demand. The approach can improve supply-demand balancing and energy efficiency, while owners receive incentives such as discounted charging fees and opportunities to earn revenue. V2G is drawing particular attention in places with a high share of renewable power, including parts of Europe and South Korea’s Jeju Island, where solar and wind output can swing sharply by weather and time of day. In those regions, EVs using V2G are seen as a way to improve the economics of renewables and stabilize the grid. ◆ Global V2G race intensifies as countries build access and rules The U.K. is widely viewed as among the most advanced in commercializing V2G services, lowering barriers for EV owners through simplified procedures such as dedicated service offerings. Last year, British energy company Octopus Energy launched what it described as its first commercial V2G package, bundling an EV lease, installation of a V2G charger and an electricity plan. Owners can participate by simply plugging in, without going through separate and complex power-selling transactions. The package also offers incentives tailored to Britain’s high electricity prices, including fully waiving charging fees if the EV remains connected to a V2G charger for a set minimum time, drawing a strong response from local owners. The Netherlands is running what it calls Europe’s first large-scale, city-level V2G demonstration model, the Utrecht Energized project, linking EVs, V2G charging stations and local solar systems. Utrecht, the country’s fourth-largest city, has solar panels on 35% of its buildings, which can lead to frequent daytime overproduction. EVs using V2G store surplus electricity in their batteries and supply it to the grid when needed. The system automatically decides and manages charging and discharging based on real-time supply and demand. In the United States and Japan, where disasters often damage power grids, efforts are also growing to position EVs as key energy infrastructure. California is a leading example, with wildfire, extreme heat and aging infrastructure making blackout risks persistent. The state’s Public Utilities Commission is testing how quickly power can be restored by linking EVs to local grids. Research has also found that if all EVs projected to be on the road by 2035 — about 14 million — were used, they could supply uninterrupted electricity to all households in the region for three days. Japan is likewise promoting EVs as a central element of disaster-response power infrastructure, a need that gained urgency after the 2011 Great East Japan Earthquake caused about 160 trillion won in damage. During the 2024 Noto earthquake in Ishikawa Prefecture, EVs were deployed to provide emergency power to homes as well as evacuation shelters and hospitals. Japan’s government has also included, in its purchase-subsidy evaluation criteria, measures such as signing disaster cooperation agreements with local governments to maximize EV use. ◆ Hyundai Motor Group leads Korea pilot as public-private council launches In South Korea, moves to commercialize V2G using EVs are gaining momentum. Hyundai Motor Group stands out, running pilot services to build a V2G ecosystem and verify technology based on dedicated EV models and bidirectional charging. Since December, Hyundai Motor Group has been testing 55 EVs, including the Ioniq 9 and EV9, on Jeju Island to verify the stability of links between charging infrastructure and the power grid. With a high share of renewable generation such as solar and wind, Jeju is seen as well suited for V2G, including storing and supplying surplus electricity using EV batteries. Work is also underway to prepare rules for commercialization. A V2G public-private consultative body launched under the Ministry of Climate, Energy and Environment brings together central and local governments, power-sector institutions, automotive and ICT companies, and academia. The group is discussing a mid- to long-term roadmap covering electricity pricing plans, settlement and compensation methods, legal revisions and technical standards. Under current rules, EVs are not clearly defined as participants in the power market or as “distributed energy resources,” leaving limited legal basis to formally recognize electricity supplied to the grid. Standards also remain to be set on who can participate in power transactions and how compensation for supplied electricity should be calculated. Last month, Climate Minister Kim Sung-hwan cited “expanding V2G” as one of seven innovation projects at a presidential town hall meeting on Jeju. He described energy storage systems, including EV batteries, as a key energy source to complement renewables and pledged bold and swift change. An industry official said Korea needs to speed up detailed institutional design alongside pilot services for V2G commercialization to gain traction. The official added that commercialization could accelerate the shift to EVs and help expand strategic energy assets at the national level. * This article has been translated by AI. 2026-04-22 16:54:43

Korea's birth rate crawls near 1 in February on record births in the month SEOUL, April 22 (AJP) -South Korea's fertility rate edged closer to the 1.0 threshold in February as births grew at a record pace, lifting the monthly tally to its highest level in seven years. According to the Ministry of Data and Statistics Wednesday, the number of births reached 22,898 in February, up 2,747, or 13.6 percent, from a year earlier — marking the highest February figure in seven years since 2019. The increase was the third-largest on record in absolute terms for February and the fastest growth rate since data collection began in 1981. The data extend a sustained recovery trend, with births rising for 20 consecutive months since July 2024. The total fertility rate — the average number of children a woman is expected to have over her lifetime — rose to 0.93 in February, up 0.10 from a year earlier. Adjusted for February’s shorter calendar, officials said the figure represents a relatively strong reading. A breakdown by age shows the rebound was led decisively by women in their 30s, the core childbearing cohort. The birth rate for women aged 30–34 climbed to 86.1 per 1,000, up 9.1 from a year earlier, while that for those aged 35–39 rose to 61.5, up 9.2 — the largest gains across age groups. Among younger cohorts, the rate for women aged 25–29 edged up 1.6 to 23.9, while births among those aged 40 and above rose modestly by 0.7 to 5.1. The rate for women aged 24 and under, however, slipped 0.2 to 2.2. By birth order, first-born children accounted for 63.0 percent of total births, up 1.2 percentage points from a year earlier, while the shares of second-born and third-or-higher երեխան declined by 0.5 and 0.6 percentage points, respectively. Despite the rise in births, South Korea’s population continued to shrink, as deaths outpaced births. The number of deaths stood at 29,172 in February, down 3.5 percent on-year, partly due to milder and drier weather conditions compared to last year. Still, the country recorded a natural population decline of 6,275 during the month. Marriage figures — a leading indicator of future births — showed a temporary pullback. The number of marriages fell 4.2 percent on-year to 18,557 in February, snapping a 22-month streak of increases since April 2024. Officials attributed the decline largely to fewer working days due to the Lunar New Year holiday, noting that on a comparable basis, marriages would have likely increased. Divorces also declined sharply, falling 15.6 percent on-year to 6,197 — the lowest February figure since 1997. Authorities cited both a longer-term downtrend and fewer administrative working days during the holiday period. The latest data follow a strong start to the year. In January, births rose 11.7 percent on-year to 26,916, pushing the monthly fertility rate to 0.99 — its highest level since monthly tracking began in 2024. The recent gains are partly attributed to demographic effects, including the so-called “second echo boom,” as those born in the early 1990s enter peak marriage and childbearing years, as well as a backlog of delayed marriages following the COVID-19 pandemic. 2026-04-22 16:51:04

Jeonbuk Gov. Kim Kwan-young Wishes Rep. Ahn Ho-young Recovery After Hunger Strike Hospitalization Jeonbuk Gov. Kim Kwan-young on Tuesday wished Rep. Ahn Ho-young a speedy recovery after Ahn was rushed to a hospital with hypoglycemic shock following a hunger strike that began after the Democratic Party’s primary for Jeonbuk governor.  Ahn has demanded a renewed inspection, saying oversight was not properly conducted into allegations involving candidate Lee Won-taek and claims that his meal expenses were paid by others.  In a Facebook post, Kim wrote that Ahn looked so gaunt he could barely stand, adding, “Tears blurred my vision.” Kim said the question Ahn raised “is not a personal matter,” but a plea about whether “fairness and justice are alive in Jeonbuk politics,” and an appeal that “the will of residents, not a script from the center,” should come first.  “Rep. Ahn’s lonely struggle will not be in vain,” Kim wrote, adding, “Jeonbuk’s future will ultimately be decided by the people of Jeonbuk.”  Kim also said Ahn’s life and health were the priority, urging him to end the protest and take care of himself. He said he hoped to shake hands with Ahn again and pledged to carry out his responsibilities in provincial administration.  Kim also appeared Tuesday morning at an emergency news conference at the National Assembly held by Democratic Party Supreme Council members Lee Eon-ju and Kang Deuk-gu. Kim, who was expelled from the party over allegations involving the distribution of cash-filled envelopes, said he supports Ahn’s call for a renewed inspection into Lee.  * This article has been translated by AI. 2026-04-22 16:50:37

Taiwan President Lai’s Eswatini Trip Canceled After African States Revoke Overflight Permits Taiwan President Lai Ching-te’s planned trip to Eswatini, the island’s only diplomatic ally in Africa, was canceled a day before departure after three countries withdrew overflight permission for his charter flight. Taiwan said China’s economic pressure was behind the move and condemned it. According to Hong Kong’s Ming Pao and other outlets on April 22, Pan Meng-an, secretary-general of Taiwan’s Presidential Office, said at a news conference the previous evening that Seychelles, Mauritius and Madagascar canceled the overflight permits without prior notice. Lai had planned a state visit to Eswatini from April 22 to 27. Pan said the “real reason” was that Chinese authorities applied heavy pressure, including economic coercion, on the three countries. He said attempts to use coercive means to change a third country’s sovereign decision undermine aviation safety, violate international norms and practices, and amount to “blatant interference” in other countries’ internal affairs. He added that the move disrupts regional order and hurts the feelings of the Taiwanese people. A Taiwanese security official, speaking on condition of anonymity, told AFP that China pressured the countries by raising the possibility of reversing debt relief, cutting off funding and imposing economic sanctions. Wu Chih-chung, Taiwan’s deputy foreign minister, said he understood the countries’ heavy economic dependence on China but said he hoped the incident would make the international community clearly recognize that China is intervening in other countries’ internal affairs through various means. It was the first time a Taiwanese president’s overseas trip was derailed by a revoked overflight permit. Lai said on Facebook that he accepted his national security team’s recommendation to postpone the visit, adding, “The schedule has been postponed, but our respect and friendship for Eswatini remain unchanged.” Taiwan plans to send a special envoy instead to events marking the 40th anniversary of the Eswatini king’s accession. Lai, who took office in early 2024 and is from the Democratic Progressive Party, has made only one overseas trip that year: a December tour of three South Pacific diplomatic allies that included a stop in Hawaii. In July last year, he also sought to travel to Central and South America via the United States, but the trip fell through after the U.S., then preparing for tariff talks with China, did not allow the transit. Bloomberg said it was the longest gap in overseas travel by a Taiwanese president since 2012, excluding the COVID-19 pandemic period. The episode comes as China expands its influence in Africa. China has been Africa’s largest trading partner for 16 consecutive years, wielding significant economic leverage. A “2025 China Belt and Road Investment Report” released early this year by Australia’s Griffith University and China’s Fudan University said Chinese investment and construction project contracts in Africa totaled $61.2 billion last year, up 283% from the previous year. Africa has overtaken the Middle East as the biggest beneficiary region of China’s Belt and Road projects. The Center for Strategic and International Studies said countries in the Global South within China’s sphere of influence support the “one China” principle, which it said is a key factor in Taiwan’s international isolation. On the same day Lai’s trip was called off, China’s state-run Xinhua News Agency reported that Chinese President Xi Jinping met in Beijing with Mozambique President Daniel Chapo, who was on a state visit, and agreed to elevate ties to a “China-Mozambique community with a shared future in the new era.” The two leaders also signed a joint statement with 28 provisions, including support for China’s unification. Chapo said, “China is Mozambique’s true friend,” adding that Mozambique firmly supports the one China principle and supports national unification.* This article has been translated by AI. 2026-04-22 16:43:47

Democratic Party Weighs Special Subsidies, 30 Trillion Won Fund to Draw Firms to Mega Special Zones The Democratic Party is considering special subsidies and support from a 30 trillion won National Growth Fund to attract companies to “mega special zones” it is promoting in five regional hubs outside the Seoul metropolitan area, according to reporting by Aju Business Daily. The party has been discussing a package of measures aimed at boosting regional economies and fostering national strategic industries. The plan would offer what it calls top-level preferential treatment for anchor companies and partner firms in the designated zones, including special subsidies, large-scale investment through the National Growth Fund and an expansion of industry-academia convergence districts, the report said. As part of broader investment incentives, the party plans to create a new “growth engine” special subsidy. It is also considering expanding subsidies for local investment and foreign investment, with additional preferential support tied to the growth-engine program. In finance, the party plans to invest 30 trillion won in the National Growth Fund and 700 billion won in a Regional Growth Fund by year’s end, the report said. The package would include preferential policy-finance loan rates, expanded insurance and guarantee limits, and continued export voucher support. The plan also includes tax support. For large-scale local investment, the party would designate “opportunity development special zones” and provide tax benefits using investment, employment and R&D tax credits, according to the report. The party also discussed steps to strengthen the business environment and build a more active industrial ecosystem in the regions to help the mega special zones take hold. Measures under review include establishing nine “growth engine” branded colleges and convergence research institutes at key national universities, expanding industry-academia convergence districts, and strengthening cooperation programs such as “K-Quick Start,” which trains job candidates. For infrastructure, the plan would use advanced national industrial complexes, MAX clusters and RE100 industrial parks to build regional hubs and concentrate investment in core facilities and innovation infrastructure, the report said. To develop industrial ecosystems, the party is considering expanding regional block-funding R&D, including large “growth engine” projects that combine technology development, talent training, and testing and demonstration infrastructure. Other measures include building startup cities and giving preferential treatment to startup support programs. The party is also considering operating a one-stop corporate investment support center to provide close, one-on-one assistance and speed up permitting and approvals within the mega special zones. In addition, the party is pushing to enact a special law to support the policies. It plans to draft legislation covering designation and operating procedures for the mega special zones, broad regulatory exemptions and the policy package, then submit a bill after consultations with relevant ministries, the report said. A lawmaker on the party’s Special Committee on Balanced National Growth said in a phone interview with Aju Business Daily on the 22nd that the amount and scale of subsidies have not been finalized. “The amount and scale of the subsidies are not yet clearly set,” the lawmaker said. “But we will continue support at a fairly large level.” The lawmaker added that the party aims to pass the special law for designating mega special zones within this year, saying it will move as quickly as possible to establish a legal foundation.* This article has been translated by AI. 2026-04-22 16:40:00

Samsung Biologics posts record Q1 but faces first-ever strike threat SEOUL, April 22 (AJP) - Samsung Biologics, the world's largest biopharmaceutical contract manufacturer, delivered its strongest-ever quarterly results on Tuesday but faces a looming walkout by its union, casting a shadow over an otherwise buoyant earnings report. Regulatory filings released Wednesday reported that operating profit surged 35 percent year-on-year to 580.8 billion won ($392.7 million), while revenue climbed 26 percent to 1.26 trillion won from the year-earlier quarter, the results marking the strongest opening quarter in the company's history. The Incheon-based contract development and manufacturing organization said it would maintain its full-year revenue growth guidance of 15 to 20 percent, first issued in January. The forecast does not yet incorporate contributions from a newly acquired production facility in Rockville, Maryland, which the company said it would factor into updated projections at a later date. Samsung Biologics completed the Rockville acquisition at the end of March, securing two current good manufacturing practice plants with a combined 60,000-liter drug substance capacity. The deal gives the company its first U.S. manufacturing footprint and positions it to serve North American pharmaceutical clients with shorter supply chains and faster turnaround times. The company's cumulative order book now stands at $21.4 billion across 112 contract manufacturing and 169 contract development agreements. Samsung Biologics has also begun ramping up its fifth plant in Incheon, which is expected to drive additional revenue growth through the remainder of the year. In a separate development, Samsung Biologics said it had agreed with Eli Lilly to establish Lilly Gateway Labs in Songdo, Incheon — the first instance of a global pharmaceutical firm's open innovation program partnering with a Korean company to set up a domestic hub. The facility is intended to foster academic and industry partnerships around next-generation biologic therapies. The record earnings come as the company faces its first-ever labor dispute. Samsung Biologics' union, which represents about 75 percent of the workforce, voted overwhelmingly in late March to authorize a strike and held a rally outside the Songdo campus on Wednesday, threatening a walkout from May 1 to 5. The two sides remain at odds over wage increases and personnel policy reforms after 13 rounds of bargaining failed to produce a deal. Shares of Samsung Biologics closed at 1,567,000 won per stock, 1.32 percent lower than the day before. 2026-04-22 16:39:55

Former Vietnam Ambassador Says Lee Jae-myung Visit Can Lift Korea-Vietnam Partnership Nguyen Vu Tung, a professor of international politics at the Diplomatic Academy of Vietnam who served as Vietnam’s ambassador to South Korea from 2020 to 2023, said President Lee Jae-myung’s state visit to Vietnam from April 21-24 could be a turning point that lifts the two countries’ “comprehensive strategic partnership” to a higher level. Tung wrote in an online commentary published Monday (local time) by Viet Nam News that the trip is significant because it is the first visit by a foreign head of state since Vietnam reshuffled its party and government leadership. He said it shows “South Korea fully supports Vietnam’s major political agenda, the new leadership and its future socio-economic development direction.” He said sustained top-level exchanges have strengthened political trust and the foundation for cooperation. He cited a series of high-level visits last year, including a trip to South Korea in August by Party General Secretary To Lam, a visit by former President Luong Cuong tied to the Asia-Pacific Economic Cooperation leaders meeting in November, and National Assembly Speaker Woo Won-shik’s visit to Vietnam that same month. Tung also highlighted economic ties, saying South Korea is Vietnam’s largest source of foreign direct investment, its second-largest tourism market and a provider of official development assistance. He said South Korea is also Vietnam’s third-largest trading partner and an overseas labor market for Vietnamese workers. He said defense and security cooperation is expanding into areas such as the defense industry and capacity building, while people-to-people exchanges are rising quickly through tourism, study abroad and labor cooperation. As of 2025, he wrote, South Korea accounted for the second-largest share of foreign visitors to Vietnam, with 4.3 million people, or 21% of the total. Looking ahead, Tung said cooperation in advanced sectors is likely to become a central pillar of the relationship. “Expectations for expanded cooperation in emerging areas such as energy, science and technology, semiconductors, digital transformation and artificial intelligence are higher than ever,” he wrote, adding that these areas are forming an important axis alongside existing cooperation. He also said the two countries should coordinate more closely amid fast-changing international conditions, including global tensions, conflicts and growing nontraditional security threats. Tung, who said he was directly involved in 2022 when Korea-Vietnam diplomatic ties were elevated to a comprehensive strategic partnership, expressed strong interest in further deepening the relationship. “Deepening and upgrading the Vietnam-Korea comprehensive strategic partnership is also an opportunity for both countries to contribute to regional peace, cooperation and prosperity,” he wrote, adding that the relationship has been built on an increasingly solid foundation over time. He said he expects agreements reached during the visit to raise cooperation another step and deliver tangible benefits to companies and citizens. He said the relationship has been shaped by “close links of mutual interests, stronger institutional cooperation mechanisms, deeper trust at the highest level, cultural similarities and mutual goodwill between the two peoples,” and voiced hope for a successful state visit.* This article has been translated by AI. 2026-04-22 16:39:05

Hanwha heir Kim Dong-seon leaves Hanwha Corp. to focus on new Tech & Life holding company Hanwha Group Vice President Kim Dong-seon, the conglomerate chairman’s third son, has left Hanwha Corp. and will concentrate his management efforts on the Tech & Life business that is set to be spun off, according to the business community. Some analysts said the move suggests the group’s third-generation management structure is nearing completion. According to the business community on Tuesday, Kim is believed to have resigned from Hanwha Corp. at the end of March. He had served as head of the overseas business division at Hanwha Corp.’s construction unit, overseeing overseas development projects and expansion into new businesses. Hanwha said Kim’s departure was a decision made to focus on related work as the company pursues a planned split and the establishment of a new holding company. The move comes as the group’s business reshuffle gains momentum, and was seen as Kim taking direct charge of a new growth pillar. Hanwha Corp. previously announced in January that it would spin off its Tech Solution and Life Solution divisions and set up a separate holding company. The new company, tentatively named Hanwha Machinery & Service Holdings, will bundle businesses Kim has led, including retail, leisure and robotics. The split is scheduled to be completed in July after procedures including an extraordinary shareholders meeting in June. Business circles said the latest personnel change further clarifies the division of roles among the owner family’s third generation. Vice Chairman Kim Dong-kwan, the eldest son, leads core businesses including defense, shipbuilding and energy, while President Kim Dong-won, the second son, oversees the financial arm. Kim Dong-seon has been expanding his role around future consumer and service businesses such as retail, leisure and robotics.* This article has been translated by AI. 2026-04-22 16:38:14