Hanwha 69th Anniversary, Kim Seung-yeon: "Normalize Crisis, Let's Start a New Challenge"

Chairman Kim Seung-yeon Emphasizes 'DNA of Comeback Turning Crisis into Opportunity'
Proposes Business Structure Innovation, Digital Transformation, and Sustainable Management as Key Topics

Seung-yeon Kim, Chairman of Hanwha Group

[Asia Economy Reporter Kim Hyewon] "To move toward a more advanced future, a change in thinking and actions on a different level is necessary."

Hanwha Group Chairman Kim Seung-yeon mentioned the "world where crises have become normalized" on the occasion of the company's 69th anniversary on the 9th, presenting the direction Hanwha should take in the With-Corona era. Chairman Kim diagnosed, "A great whirlwind of transformation has once again been placed before us," and delivered a message to start a new challenge, emphasizing that Hanwha has the DNA to turn crises into opportunities.

In a commemorative speech released through the company broadcast on the morning of the 12th, Chairman Kim raised ▲business structure innovation ▲digital transformation ▲sustainable management as key topics to lead a new paradigm.

Chairman Kim encouraged employees by stating that despite the COVID-19 crisis, Hanwha is leading dynamic changes that attract market attention. He particularly evaluated that strong innovations have continued in the fields of space, solar power, green hydrogen, and future finance. Notably, Hanwha has designated the space industry, called humanity's last remaining blue ocean, as a future growth engine and has been continuously expanding its business through research and development and mergers and acquisitions, in addition to its existing capabilities in launch vehicles, engines, and satellites. A recent outstanding achievement is Hanwha Aerospace’s role in producing and supplying engines for the Korean launch vehicle 'Nuriho,' scheduled for launch on the 21st.

In the hydrogen energy business sector, Hanwha is establishing a hydrogen value chain within the group, from the supply of green hydrogen based on water electrolysis technology to compression, transportation, charging, power generation, and utilization.

Hanwha is also actively expanding digital solutions and new businesses that will lead future finance. Hanwha Life introduced 'subscription insurance' and is utilizing artificial intelligence (AI) in insurance underwriting. Hanwha’s financial affiliates are moving away from traditional investment methods focused on return on investment (ROI) and are investing in new fields aligned with MZ generation trends, creating growth engines that can generate synergy effects with the financial industry.

Chairman Kim ordered an acceleration of digital transformation. He pointed out corporate flexibility as a key factor in responding to crisis situations like COVID-19 and emphasized that digital transformation is essential for this. Hanwha is hastening digital innovation across all management areas by utilizing AI and big data for digital-based process improvements, operational optimization, and expansion of non-face-to-face digital services in each business sector.

Chairman Kim set a higher level than social demands as the goal for the group’s sustainable management. "To become a company that lasts 100 years, Hanwha must make our standards the benchmark for sustainable management," he said, urging active roles for the ESG committees of the group and major affiliates launched in the first half of this year.

In closing, Chairman Kim wished the health of employees, saying, "The end of the long tunnel is near now," and "I hope we can safely get through this difficult tunnel with just a little more strength."

Considering the COVID-19 situation, Hanwha did not prepare a separate group event for the anniversary this year, following last year’s practice. Only each affiliate held minimal gatherings at the business unit or team level on the 12th to spend time on long-term service awards and similar activities.

This content was produced with the assistance of AI translation services.