Hanwha Group has officially launched Hanwha Machinery and Service Holdings (Hanwha M&S), a holding company that encompasses its Tech and Life Solutions sectors. The new holding company aims to enhance business specialization and strengthen synergies among its subsidiaries to boost corporate competitiveness and shareholder value.
On August 3, Hanwha M&S held a launch ceremony at The Plaza in central Seoul, marking the official declaration of its establishment. CEO Kim Hyung-jo, along with three internal directors and four independent directors, including Professor Jo Min-ho from Hanyang University, convened the first board meeting to elect executives and establish committees and internal regulations.
Hanwha M&S was formed through a spin-off from Hanwha and oversees the Tech and Life Solutions sectors. 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 Ourhome. The company has a total of 57 affiliated companies, including subsidiaries and overseas entities. By the end of 2025, it is projected to have consolidated revenues of approximately 6 trillion won and total assets of 11.3 trillion won, with Hanwha Vision and Hanwha Galleria listed on the stock market.
Kim Hyung-jo will serve as the inaugural CEO. Born in 1968, he joined Hanwha Group in 1994 and has over 30 years of experience in business strategy and operations. He previously served as the CEO of Hanwha Hotels and Resorts for four years starting in 2021.
Hanwha M&S plans to accelerate decision-making processes and expand collaboration among its subsidiaries based on the holding company structure. It aims to implement strategies tailored to business characteristics and market conditions while focusing on enhancing corporate and shareholder value. The group expects that the transition to a holding company structure will alleviate the conglomerate discount, positively impacting investment and business expansion.
Kim Hyung-jo stated, "We will establish a management system that maximizes expertise to become a strong and efficient organization. We will strive to ensure that the growth of our company contributes to national and social development."
Also present at the launch ceremony was Kim Dong-sun, who has been instrumental in exploring new markets for the Tech and Life sectors. He will now oversee the establishment of long-term blueprints and the discovery of future growth opportunities for each subsidiary. He was recently promoted to president on August 1, recognized for expanding the semiconductor equipment business through significant orders for TC bonders for HBM and for his achievements in developing emerging markets in the Middle East and India.
Meanwhile, Hanwha approved the spin-off plan at an extraordinary shareholders' meeting on July 15. Hanwha M&S is set to be listed on the stock market on August 25.
* This article has been translated by AI.
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