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.
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