Kim Dong-gwan Takes Full Management Role at Hanwha Solutions...Approved as Inside Director at General Meeting
"At the Level of Responsible Management"... Taking the Lead Role in Future Business
[Asia Economy Reporter Hwang Yoon-joo] Kim Dong-kwan, the eldest son of Kim Seung-yeon, Chairman of Hanwha Group, and Vice President in charge of the Strategy Division, has been appointed as an inside director of Hanwha Solutions. As a member of the board, Vice President Kim is expected to lead new business initiatives and take a prominent role in management.
Hanwha Solutions held its 46th regular shareholders' meeting on the morning of the 24th in Jung-gu, Seoul, where the appointment of Vice President Kim as an inside director was approved as originally proposed.
Vice President Kim was promoted to Vice President of Hanwha Solutions at the end of last year and also took on the role of head of the Strategy Division at Hanwha Corporation this year. With this appointment as an inside director at a major Hanwha Group affiliate, he is stepping forward into a leading management position.
Hanwha Solutions was formed through the merger of three companies specializing in solar energy, petrochemicals, and advanced materials. Solar energy and petrochemicals are the core businesses, and Vice President Kim plans to focus on designing Hanwha Solutions' mid- to long-term strategies and discovering future business opportunities.
Previously, Hanwha Solutions withdrew from the polysilicon business. It is understood that Vice President Kim made the decision to exit this business. Due to the deterioration of competitiveness in the domestic polysilicon market caused by China's low-priced supply offensive, the company judged that concentrating on manufacturing cells (solar cells) and modules (panels made by connecting cells) would be more advantageous.
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Meanwhile, at the shareholders' meeting, Hanwha Solutions newly appointed Amanda Bush, Partner at St. Augustine Capital Partners; Satoshi Shima, former Chief of Staff at SoftBank; Park Ji-hyung, Professor of Economics at Seoul National University; and Seo Jeong-ho, lawyer at Wiz Law Firm, as outside directors.
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