Hanwha Group to Invest 37.6 Trillion Won Over 5 Years... Over 20,000 New Jobs (Update)

2.6 Trillion Invested in Defense and Aerospace Sectors
Combined 37 Trillion in Energy and Carbon Neutrality

[Asia Economy Reporter Jeong Dong-hoon]Hanwha Group will invest a total of 37.6 trillion KRW over the next five years in future industries such as energy, carbon neutrality, defense, and aerospace, including 20 trillion KRW domestically. Through this, it plans to create more than 20,000 new jobs in South Korea over five years.

On the 24th, Hanwha Group stated, "We judged that it is a time when further investment is needed to strengthen the competitive advantage of existing businesses, internalize future technologies to secure future technology leadership, and lead the market," adding, "We aim to support private-led economic growth through such investments." Hanwha will carry out a large-scale investment totaling 37.6 trillion KRW over five years from this year until 2026.

Among this, the 20 trillion KRW domestic investment will focus on three sectors: energy, carbon neutrality, and defense & aerospace.

By sector, about 4.2 trillion KRW will be invested in the energy sector, including solar and wind power. The plan is to strengthen solar power research and development and establish the latest production facilities to grow South Korea into a "global core base" capable of producing high-efficiency solar products.

Additionally, 900 billion KRW will be invested in the carbon neutrality business sector, including commercialization of hydrogen co-firing technology and investment in large-scale water electrolysis production facilities. Furthermore, 2.1 trillion KRW will be invested in developing eco-friendly new material products to align with carbon neutrality efforts. In the defense and aerospace sector, 2.6 trillion KRW will be invested to accelerate the globalization of "K-Defense," including pioneering overseas markets for the K-9 self-propelled howitzer and entering new global markets with the Redback armored vehicle.

Alongside this, Hanwha will take the lead in securing future technologies and pioneering related markets in areas such as Korean-style satellites and launch vehicles, and urban air mobility (UAM). In addition, 4 trillion KRW will be invested in facility upgrades to strengthen competitiveness in the petrochemical sector, and 2 trillion KRW will be invested in expanding complex development projects in the construction sector and strengthening premium leisure businesses.

The 20 trillion KRW that Hanwha Group plans to invest domestically over the next five years is nearly equivalent to the 22.6 trillion KRW the group invested domestically and internationally over the past five years. Hanwha Group plans to contribute to social employment expansion by creating more than 20,000 new jobs over the next five years alongside domestic investment.

To this end, it will conduct annual recruitment of around 4,000 new employees across all business sectors, including machinery, aviation, defense, chemical, energy, construction, services, and finance.

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