Hanwha Group () is a large business conglomerate (

chaebol A chaebol ( , ; , ) is a large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or group. Several dozen large South Kore ...

) in South Korea. Founded in 1952 as Korea Explosives Co. (), the group has grown into a large multi-profile business conglomerate, with diversified holdings stretching from explosivestheir original businessto energy, materials, aerospace, mechatronics, finance, retail, and lifestyle services. In 1992, the company adopted its abbreviation as its new name: "Hanwha".

History

1952–1999

Kim Chong-hee Kim Chong-hee (; 1922–1981) was the founder of Hanwha Group and a significant figure in the South Korean explosives industry. Korea Explosives Corporation Kim established the Korea Explosives Corporation, a predecessor of the Hanwha Han ...

founded Korea Explosives Co. in October 1952. Prior to founding the company, Kim worked as a gunpowder engineer for the "Chosun Explosives Factory", a

Japan Japan is an island country in East Asia. Located in the Pacific Ocean off the northeast coast of the Asia, Asian mainland, it is bordered on the west by the Sea of Japan and extends from the Sea of Okhotsk in the north to the East China Sea ...

ese company. Later, he won the bid for the company and its

Incheon Incheon is a city located in northwestern South Korea, bordering Seoul and Gyeonggi Province to the east. Inhabited since the Neolithic, Incheon was home to just 4,700 people when it became an international port in 1883. As of February 2020, ...

factory and started the company there. From 1952 to 1963, the Korea Explosives Co. produced industrial explosives domestically, which was needed for construction and engineering of infrastructure. In the same time period, the Korea Explosives Co. started producing

nitroglycerin Nitroglycerin (NG) (alternative spelling nitroglycerine), also known as trinitroglycerol (TNG), nitro, glyceryl trinitrate (GTN), or 1,2,3-trinitroxypropane, is a dense, colorless or pale yellow, oily, explosive liquid most commonly produced by ...

, which gave it a monopoly in the field of explosives and

gunpowder Gunpowder, also commonly known as black powder to distinguish it from modern smokeless powder, is the earliest known chemical explosive. It consists of a mixture of sulfur, charcoal (which is mostly carbon), and potassium nitrate, potassium ni ...

. In 1959, the Hanwha group started producing domestic

dynamite Dynamite is an explosive made of nitroglycerin, sorbents (such as powdered shells or clay), and Stabilizer (chemistry), stabilizers. It was invented by the Swedish people, Swedish chemist and engineer Alfred Nobel in Geesthacht, Northern German ...

. From 1964 to 1980 the Hanwha group started to make investments in various fields, starting the foundation of it becoming a chaebol. Later in the mid 1960s, Korea Hwasung industrial Co. was founded (now

Hanwha Solutions Hanwha Solutions Corporation () is a multinational energy services, petrochemical, and real estate development company headquartered in Seoul, South Korea. The company is part of the Hanwha Group, a large South Korean business conglomerate. Fou ...

), and entered the petrochemical market. Hanwha increased its competitiveness in the machinery market by acquiring Shinhan Bearing Industrial. Hanwha founded Kyung-in Energy in 1969, and the Hankook Precision Tools (now Hanwha Corporation/Momentum) followed suit, being founded in 1971. From 1981 to 1995,

Kim Seung-youn Kim Seung-youn (; born February 7, 1952) is a South Korean businessman. He is currently the chairman of Hanwha Hanwha Group () is a large business conglomerate (chaebol) in South Korea. Founded in 1952 as Korea Explosives Co. (), the group h ...

became the second chairman of the company, and more investments in diverse markets were initiated. It expanded further into the chemical industry by acquiring both Hanyang Chemicals (now also

) and Dow Chemicals Korea in 1982, expanded into the resorts industry by acquiring the Junga group (now

Hanwha Hotels & Resorts Hanwha Group () is a large business conglomerate (chaebol) in South Korea. Founded in 1952 as Korea Explosives Co. (), the group has grown into a large multi-profile business conglomerate, with diversified holdings stretching from explosivesthei ...

) in 1985, and expanded into the leisure and distribution industry by acquiring Hanyang Stores (now

Hanwha Galleria Hanwha Group () is a large business conglomerate (chaebol) in South Korea. Founded in 1952 as Korea Explosives Co. (), the group has grown into a large multi-profile business conglomerate, with diversified holdings stretching from explosivesthei ...

) in 1986. In the 1990s, the Hanwha Group founded Hanwha BASF Urethane, Hanwha NSK Precision, Hanwha GKN, Hanwha Machinery Hub Eye Bearings, SKF Hanwha Auto Parts, and Hanwha Motors. In 1992, the Korea Explosives Co. changed its name to Hanwha, and

Binggrae Binggrae Co., Ltd. (), is a South Korean multinational food and beverage corporation that manufactures ice cream, milk products, and snacks. Binggrae was founded in 1967 by Hong Soon-ji as Daeil Corporation (). The B in the Binggrae Logo is mode ...

was separated and made independent from the company.

2000 to present

In 2002, Hanwha expanded into the life insurance industry by acquiring Korea Life Insurance. From 2007–present, Hanwha is undergoing global expansion. Hanwha acquired Azdel, an

American American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the "United States" or "America" ** Americans, citizens and nationals of the United States of America ** American ancestry, p ...

company in 2007 and established a PVC plant in

Ningbo Ningbo is a sub-provincial city in northeastern Zhejiang province, People's Republic of China. It comprises six urban districts, two satellite county-level cities, and two rural counties, including several islands in Hangzhou Bay and the Eas ...

Zhejiang ) , translit_lang1_type2 = , translit_lang1_info2 = ( Hangzhounese) ( Ningbonese) (Wenzhounese) , image_skyline = 玉甑峰全貌 - panoramio.jpg , image_caption = View of the Yandang Mountains , image_map = Zhejiang i ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

in 2011.

Hanwha Q CELLS Hanwha Qcells (commonly known as simply Qcells) is a manufacturer of photovoltaic cells. The company is headquartered in Seoul, South Korea, after being founded in 1999 in Bitterfeld-Wolfen, Germany, where the company still has its engineering ...

was launched in 2012. In 2014, Hanwha acquired Samsung Techwin, Samsung Thales, and Samsung Total. Since 2019, Hanwha is operating the largest solar module plant (1.7 GW) in the United States; It is located in

Dalton Dalton may refer to: Science * Dalton (crater), a lunar crater * Dalton (program), chemistry software * Dalton (unit) (Da), a.k.a. unified atomic mass unit * John Dalton, chemist, physicist and meteorologist * 12292 Dalton, an asteroid Ent ...

Georgia Georgia most commonly refers to: * Georgia (country), a country in the South Caucasus * Georgia (U.S. state), a state in the southeastern United States Georgia may also refer to: People and fictional characters * Georgia (name), a list of pe ...

. As of 2019, Hanwha has a total of 466 affiliates, 84 being domestic and 382 overseas. Hanwha completed its take over of Daewoo Shipbuilding & Marine Engineering (DSME), renaming it

Hanwha Ocean Hanwha Ocean Co., Ltd. (), formerly known as Daewoo Shipbuilding & Marine Engineering (DSME; ), is one of the "Big Three" shipbuilders of South Korea, along with Hyundai Heavy Industries, Hyundai and Samsung Heavy Industries, Samsung. History ...

in 2023.

Controversy

In 2011, Kim Seung-yeon, the current chairman of the Hanwha Group, was fined 5.1 billion KRW and was jailed for 4 years on charges of embezzlement and breach of trust.

Key networks

* R&D:

Germany Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...

Malaysia Malaysia is a country in Southeast Asia. Featuring the Tanjung Piai, southernmost point of continental Eurasia, it is a federation, federal constitutional monarchy consisting of States and federal territories of Malaysia, 13 states and thre ...

USA The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 states and a federal capital district, Washington, D.C. The 48 contiguous ...

, and

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korea, Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and t ...

* Manufacturing: Germany,

Czech Republic The Czech Republic, also known as Czechia, and historically known as Bohemia, is a landlocked country in Central Europe. The country is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the south ...

, Malaysia, China, South Korea, Iraq and USA * Marketing & Sales:

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

, USA, China, South Korea, and

Iraq Iraq, officially the Republic of Iraq, is a country in West Asia. It is bordered by Saudi Arabia to Iraq–Saudi Arabia border, the south, Turkey to Iraq–Turkey border, the north, Iran to Iran–Iraq border, the east, the Persian Gulf and ...

Business areas

Energy & Materials

Solar Energy

In a meeting held on May 21, 2022, Kim Dong-kwan, the president of Hanwha Solutions, laid down a plan to spend 36.7 trillion KRW on its energy and aerospace sectors. He said he wanted to commit the company to solar energy to reduce its carbon footprint and supply high quality energy. Additionally, he announced plans to build another modular factory in the United States. In order to tackle the problem of stagnating bee populations, Hanwha has created a solar beehive, that helps to protect and maintain a stable bee population. Hanwha QCELLS has launched a new brand that ventures into the electric vehicle charging market called Hanwha Motiev in 2022.

Wind Energy

Hanwha operates in the onshore and offshore wind power generation sectors, with a focus on Europe through its subsidiary Q Energy, as well as the domestic market.

Hydrogen

Hanwha develops a hydrogen value chain, which includes production, utilization, and storage services, utilizing renewable energy sources. Hanwha acquired Thomassen Energy/PSM in July 2021, which enables retrofitting of gas turbines for hydrogen use.

Materials

produces basic petrochemical products, such as

PVC Polyvinyl chloride (alternatively: poly(vinyl chloride), colloquial: vinyl or polyvinyl; abbreviated: PVC) is the world's third-most widely produced synthetic polymer of plastic (after polyethylene and polypropylene). About 40 million tons o ...

(Polyvinyl Chloride), LLDPE (Linear Low-Density Polyethylene), CA (Caustic Soda), ASR (Alkali Water Soluble Resin), and TDI (Toluene Diisocyanate), as well as working on eco-friendly technologies including low-impact

plasticizers A plasticizer (British English, UK: plasticiser) is a substance that is added to a material to make it softer and more flexible, to increase its plasticity (physics), plasticity, to decrease its viscosity, and/or to decrease friction during its ...

Aerospace

Space

Hanwha is also extensively investing in the space market, and jointly established "Space Research Center" with

KAIST KAIST (originally the Korea Advanced Institute of Science and Technology) is a national university, national research university located in Daedeok Innopolis, Daejeon, South Korea. KAIST was established by the Korean government in 1971 as the ...

. Hanwha Aerospace contributes to South Korea's space industry, including satellite observation services and the development of the

Nuri Nuri is a place in modern Sudan on the west side of the Nile River, Nile, near the Fourth Cataract. Nuri is situated about 15 km north of Sanam, Sudan, Sanam, and 10 km from Jebel Barkal. History Nuri is the second of three Napatan bur ...

space launch vehicle. Hanwha took an 8.8% stake in British company

OneWeb OneWeb Communications Ltd., doing business as Eutelsat OneWeb, is a subsidiary of the French group Eutelsat providing broadband satellite Internet services in low Earth orbit (LEO). The company is headquartered in London, and has offices in P ...

, a satellite communication service provider as of 2022.

Aircraft Engine

Hanwha Aerospace is South Korea's sole aircraft engine producer, partnering with global aviation engine companies for component manufacturing.

Vision Solutions

Hanwha Vision Hanwha Vision (), founded as Samsung Techwin, is a video surveillance company. It is a subsidiary of Hanwha Group. The company employs 1,822 people and is headquartered in South Korea. Its total sales in 2020 were 529.8 billion South Korean won ...

(formerly Samsung Techwin, before getting acquired by Hanwha) delivers video surveillance services with a focus on optics design, image processing, and AI-based platforms to improve service offerings.

Finance

Hanwha operates in the financial industry, providing insurance, securities, and asset-management services, and investing in technology-based financial services.

Retail & Services

Hanwha engages in retail & services such as department stores, hotels, and resorts, as well as developing large-scale complexes.

Affiliates

* Hanwha Group's business area has five types, defence, technologies, energy, finance, and service. On 23 May 2023, Hanwha acquires

Daewoo Shipbuilding & Marine Engineering Hanwha Ocean Co., Ltd. (), formerly known as Daewoo Shipbuilding & Marine Engineering (DSME; ), is one of the "Big Three" shipbuilders of South Korea, along with Hyundai and Samsung. History On 21 February 2011, the A. P. Moller-Maersk ...

, and renamed Hanwha Ocean.

Aerospace·Defence·Maritime

* Hanwha Corporation (Holding company) *

Hanwha Aerospace Hanwha Aerospace Co., Ltd. (), formerly Hanwha Techwin Co Ltd, is a subsidiary of Hanwha Group, is an aerospace industrial company headquartered in Changwon, South Korea. It was established in 1977 as Samsung Precision. The company is Korea's ...

Hanwha Philly Shipyard Hanwha Philly Shipyard, formerly Philadelphia Shipyard Inc''.'', is a commercial shipyard located in Philadelphia, Pennsylvania, United States on part of the site of the Philadelphia Naval Shipyard. The commercial yard began after the United Sta ...

(formerly

Philadelphia Philadelphia ( ), colloquially referred to as Philly, is the List of municipalities in Pennsylvania, most populous city in the U.S. state of Pennsylvania and the List of United States cities by population, sixth-most populous city in the Unit ...

Shipyard) * Precision Machinery * Hanwha Systems *

* Hanwha Robotics

Energy

* Hanwha Advanced Materials * Hanwha Energy * Hanwha Impact * Hanwha Power Systems * Hanwha Qcells *

Hanwha TotalEnergies Petrochemical Hanwha TotalEnergies Petrochemical Co., Ltd., (Hangul: 한화토탈에너지스) is a joint venture between Hanwha and TotalEnergies Both companies own a 50% partnership in the venture. Founded in 2003 as a joint venture between Samsung General ...

* Yeochun NCC

Finance

* Carrot Insurance * Hanwha Asset Management * Hanwha General Insurance * Hanwha Investment & Securities * Hanwha Life Insurance * Hanwha Life Financial Service * Hanwha Saving Bank

Distribution·Hospitality Service

* Hanwha Hotels & Resorts * Hanwha Foodtech * Hanwha Connect

Awards

* Old Tower Industrial Medal, November 1982 * $100 Million Export Tower Award, November 1982 * Silver Tower Industrial Medal and the $1 Billion Export Tower Award, November 1998 * Gold Tower Industrial Medal (45th Annual Trade Day Ceremony), December 2008 * $2 Billion Export Tower Award (45th Annual Trade Day Ceremony), December 2008

Sports teams

Hanwha Eagles The Hanwha Eagles () are a South Korean professional baseball team based in Daejeon that competes in the KBO League. The Eagles' home ballpark is Daejeon Hanwha Life Ballpark. They have won the Korean Series once, in 1999, and the league penn ...

Hanwha Life Esports Hanwha Life Esports (HLE, ) is a South Korean esports organization based in Seoul, owned by Hanwha Life Insurance. It has teams competing in ''League of Legends'' and '' Kart Rider'', with the former competing in the LCK, South Korea's top lev ...

Notes

References

External links

{{Authority control Hanwha Chaebol Conglomerate companies established in 1952 Construction and civil engineering companies of South Korea Electrical engineering companies Engineering companies of South Korea Defence companies of South Korea Explosives manufacturers Holding companies of South Korea Multinational companies headquartered in South Korea Energy companies of South Korea Companies based in Seoul Companies listed on the Korea Exchange Companies in the KOSPI 200 South Korean brands Construction and civil engineering companies established in 1952 1952 establishments in South Korea South Korean companies established in 1952 Manufacturing companies established in 1952

History

1952–1999

2000 to present

Controversy

Key networks

Business areas

Energy & Materials

Solar Energy

Wind Energy

Hydrogen

Materials

Aerospace

Space

Aircraft Engine

Vision Solutions

Finance

Retail & Services

Affiliates

Aerospace·Defence·Maritime

Energy

Finance

Distribution·Hospitality Service

Awards

Sports teams

See also

Notes

References

External links