Kim Dong-kwan, Confirmed Successor, Promoted to Vice Chairman... Accelerating Solar Power, Space, and Defense Sectors (Comprehensive)

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

Kim Dong-kwan, Vice Chairman of Hanwha Solutions. Photo by Hanwha Group

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

With this personnel change, Vice Chairman Kim will take on the roles of CEO of Hanwha Solutions' Strategy Division as well as 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 structure reorganization to continuously strengthen business 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.

'Hanwha Successor' Kim Dong-gwan System Solidified... Takes on '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 investments across Hanwha Solutions, Hanwha Corporation, Hanwha Aerospace, and other affiliates.

Kim plays a key role in mid- to long-term strategic promotion and strategic investments in green energy and aerospace businesses, which are future businesses focused on by Hanwha Group led by Chairman Kim Seung-yeon. He is also highly evaluated for significantly contributing to the defense business expanding overseas, establishing global competitiveness, and creating 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 business promotion in the increasingly important U.S. and European markets.

Recently, Hanwha Group carried out 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 as a global defense company. Furthermore, Hanwha's defense business, which has expanded its business areas to Australia, Europe, and the Middle East and produced 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 concurrently 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-cheol. Photo by Hanwha Group

CEOs Appointed 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. Kim Seung-mo is regarded as a strategic expert in defense and manufacturing fields, having held positions such as head of planning at Hanwha Corporation, CEO of Hanwha Q CELLS Korea, and CEO of Hanwha Corporation's Defense Division. He is considered the right person to lead organizational stabilization at Hanwha Construction, which is scheduled to merge with Hanwha Corporation.

Son Jae-il, president of Hanwha Defense, has been appointed as co-CEO of Hanwha Aerospace alongside Vice Chairman Kim Dong-gwan. Until the integration is completed, Son will also continue to serve as CEO of Hanwha Defense. Son Jae-il is a defense expert who has held positions in planning and HR at Hanwha Corporation, CEO of Hanwha Ground Defense, and CEO of Hanwha Defense. He has led global business achievements in K-defense, including the export of self-propelled artillery from Hanwha Defense.

Ryu Du-hyung, president of Hanwha Solutions' Advanced Materials Division, has been appointed as the new CEO of Hanwha Corporation Momentum and Hanwha Precision Machinery. Ryu is an expert in electronic materials, having served as CEO of Hanwha Energy and CEO of Hanwha Solutions' Advanced Materials Division. Kim In-hwan, vice president and head of the Resin Business Division at Hanwha TotalEnergies, has been appointed as the new CEO of Hanwha Solutions' Advanced Materials Division. Kim In-hwan is an engineer with extensive experience in product development and business management in materials-related fields, including research and development of PO at Hanwha Chemical and leadership of the Resin Business Division at Hanwha TotalEnergies.

Son Young-chang, vice president and CEO of Hanwha Power Systems, has been appointed as CEO of Hanwha H2 Energy and will 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 vice president.

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

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