Vice Chairman Promotion for Kim Dong-gwan, Boosting Solar Power and Space New Businesses Further

Hanwha Group Appoints Heads of 9 Affiliates
Focus on Completing Business Structure Reorganization and Proactive Response to Changes in Management Environment

[Asia Economy Reporter Donghoon Jung] Kim Dong-gwan, president of Hanwha Solutions and eldest son of Hanwha Group Chairman Kim Seung-yeon, was promoted to vice chairman on the 29th.

With this personnel change, Vice Chairman Kim will continue to serve as CEO of Hanwha Solutions' Strategy Division and will also take on the role of CEO of the Strategy Divisions of Hanwha Corporation and Hanwha Aerospace.

On the 29th, Hanwha Group announced appointments and promotions of CEOs for nine affiliates, including Hanwha Corporation/Strategy Division, Hanwha Corporation/Global Division, Hanwha Corporation/Momentum Division, Hanwha Precision Machinery, Hanwha Construction, Hanwha Solutions/Advanced Materials Division, Hanwha Solutions/Q Energy, Hanwha Aerospace, and Hanwha H2 Energy.

Hanwha explained, "(This personnel change) focuses on companies undergoing business restructuring to continuously strengthen competitiveness and secure future markets amid increasing internal and external management uncertainties," adding, "We emphasized appointing or reallocating CEOs with proven strategic and business expertise to establish a sustainable growth foundation."

This CEO appointment, conducted around the same time as last year, aims to form optimal organizations under the responsibility of new CEOs for each company, proactively establish next year's management strategies, and execute business plans based on them.

Consolidating the 'Kim Dong-gwan System'... Taking Responsible Management from Solar Power to Space, Defense, and New Businesses

In particular, Vice Chairman Kim Dong-gwan, promoted on this day, was recognized for actively driving business competitiveness enhancement, discovering future strategic businesses, and making investments across various affiliates such as Hanwha Solutions, Hanwha Corporation, and Hanwha Aerospace.

Kim plays a crucial role in mid- to long-term strategic promotion and strategic investments in green energy and aerospace businesses, which Hanwha Group, led by Chairman Kim Seung-yeon, is focusing on as future growth engines. He is also highly regarded for significantly contributing to the defense business's expansion overseas, helping it achieve global competitiveness and a stable profit structure.

Especially, Vice Chairman Kim's role was significant in Hanwha Solutions/Q CELLS Division's growth into a leading company in the U.S. and European markets. The expansion of the U.S. solar power business, including securing production facilities in the U.S., and active engagement in eco-friendly energy businesses in Europe were successful strategies that anticipated the potential of these regions early and concentrated business capabilities. Going forward, Kim's business insight, accumulated experience, and global business capabilities are expected to continue playing a major role in advancing business in the increasingly important U.S. and European markets.

Recently, Hanwha Group undertook a business restructuring to consolidate its defense businesses. In this context, Vice Chairman Kim's role in leading Hanwha Aerospace's Strategy Division to enhance integrated synergies has become more important. This restructuring is evaluated as a turning point that solidifies Hanwha Aerospace's identity as Korea's top aerospace defense company and paves the way for its leap into a global defense enterprise. Furthermore, Hanwha's defense business, which has expanded its operations to Australia, Europe, and the Middle East and achieved visible results, is expected to generate even greater synergy in export expansion and overseas advancement through this integration.

Additionally, upon his promotion to vice chairman, Kim will serve as CEO of Hanwha Corporation/Strategy Division and Hanwha Aerospace/Strategy Division, further strengthening responsible management as a major shareholder.

Hanwha Group appointed representatives of nine affiliates on the 29th. From the left in the photo: President Kim Seung-mo, President Son Jae-il, President Ryu Du-hyung, Vice President Kim In-hwan, Vice President Son Young-chang, Vice President Yang Ki-won, Executive Director Jung Sang-chul. Photo by Hanwha Group

Appointing CEOs with Business Expertise and Strategic Execution Capability

Kim Seung-mo, president of Hanwha Corporation's Defense Division, has been appointed as the new CEO of Hanwha Construction. Until the defense division integration is completed, Kim will also continue to serve as CEO of Hanwha Corporation's Defense Division.

Son Jae-il, president of Hanwha Defense, has been appointed as co-CEO of Hanwha Aerospace alongside Vice Chairman Kim Dong-gwan. Son will also concurrently serve as CEO of Hanwha Defense until the integration is finalized.

Ryu Doo-hyung, president of Hanwha Solutions' Advanced Materials Division, has been appointed as the new CEO of Hanwha Corporation Momentum and Hanwha Precision Machinery. Kim In-hwan, vice president and head of Hanwha TotalEnergies' Resin Business Division, has been appointed as the new CEO of Hanwha Solutions' Advanced Materials Division.

Son Young-chang, vice president and CEO of Hanwha Power Systems, has been appointed as CEO of Hanwha H2 Energy and will concurrently serve as CEO of both companies. Yang Ki-won, who was appointed CEO of Hanwha Corporation's Global Division in July, has been promoted to vice president. Jeong Sang-cheol, who serves as CEO of Hanwha Solutions Q Energy, has been promoted to executive director.

The appointed CEOs will be officially confirmed through shareholders' meetings and board meetings according to each company's schedule.

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