Hanwha Group's Tech and Life Solutions division has officially launched Hanwha Machinery and Service Holdings (Hanwha M&S), marking its first step forward.
On August 3, Hanwha M&S held a launch ceremony at The Plaza in Jung-gu, Seoul, officially declaring the establishment of the company. The board of directors, including CEO Kim Hyung-jo and three internal directors, along with independent directors such as Professor Jo Min-ho from Hanyang University, convened to approve key agenda items, including the appointment of executives, establishment of various committees, and the formulation of internal regulations.
The newly established holding company, Hanwha M&S, is divided into two main sectors: Tech and Life Solutions. The Tech sector includes Hanwha Vision, Hanwha Semitec, Hanwha Momentum, and Hanwha Robotics, while the Life sector comprises Hanwha Galleria, Hanwha Hotels and Resorts, and Our Home.
Including subsidiaries, the total number of affiliated companies reaches 57 (including overseas entities), with an estimated consolidated revenue of approximately 6 trillion won by the end of 2025 and total assets around 11.3 trillion won. Hanwha Vision and Hanwha Galleria are listed on the stock market.
The inaugural leader of Hanwha M&S is CEO Kim Hyung-jo. Born in 1968, Kim joined Hanwha Group in 1994 and has over 30 years of experience in business strategy and operations. He served as the CEO of Hanwha Hotels and Resorts for four years starting in 2021.
The primary goal of establishing the holding company and the corporate spin-off is to enhance the expertise of each business within Hanwha Group and create synergies to ultimately boost the competitiveness of each company.
The Tech and Life sectors will implement management strategies that reflect their business characteristics and market environments under the leadership of Hanwha M&S, aiming to continuously increase corporate and shareholder value. Efforts will also be made to discover synergies to facilitate active collaboration both within and outside the sectors.
During the ceremony, Kim Dong-seon, Chief Strategy Officer, expressed his commitment to the various changes and innovations that will take place under the holding company. Having previously focused on exploring new markets as the head of future vision for the Tech and Life sector subsidiaries, Kim plans to shift to the holding company to outline the vision for each subsidiary and focus on identifying potential future growth areas.
On August 1, Kim was promoted to CEO after being recognized for several achievements centered around the Tech sector, including securing large orders for HBM TC bonders and successfully entering the semiconductor equipment market, as well as exploring global emerging markets.
CEO Kim Hyung-jo stated, "We will establish a new management system that maximizes expertise and transform into a strong and efficient organization. We will strive to ensure that our growth contributes to the development of the nation and society."
Meanwhile, industry experts anticipate that the launch of Hanwha M&S will pave the way for a responsibility management system centered around the third generation of the Hanwha Group's founding family. In particular, with Kim Dong-seon taking charge of the holding company overseeing future businesses, there are expectations for accelerated development in new sectors such as semiconductor equipment, robotics, and artificial intelligence (AI).
* This article has been translated by AI.
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