'Hanwha 3rd Son' Kim Dong-seon Voluntarily Returns Full Performance Bonus Just Before Lunar New Year

Explanation of the Commitment to 'Responsible Management'

Kim Dong-seon, the third son of Hanwha Group Chairman Kim Seung-yeon and Vice President of Hanwha Galleria's Strategy Headquarters, voluntarily returned his entire 2023 performance bonus.

According to Hanwha Galleria on the 13th, Vice President Kim, along with all executives including the CEOs of Hanwha Galleria and Hanwha Hotels & Resorts, returned their performance bonuses just before the Lunar New Year holiday.

Kim Dong-seon, Head of Strategy at Hanwha Galleria (right), is ordering a hamburger at the second branch of the hamburger brand 'Five Guys,' which opened last October at The Hyundai Seoul in Yeongdeungpo-gu, Seoul. Photo by Yonhap News

This return of performance bonuses is to reaffirm their commitment to responsible management. A Hanwha Galleria official explained, "In a situation where the retail industry as a whole is facing difficulties due to recent consumer downturns, the management returned their performance bonuses as part of responsible management," adding, "Separately, special rewards were given to regular employees based on their performance."

Vice President Kim currently holds concurrent positions as head of Hanwha's overseas business division, which functions as a holding company, head of Hanwha Galleria's Strategy Headquarters, and head of Hanwha Hotels & Resorts' Strategy Division.

Born in 1989, Vice President Kim served as team leader of Hanwha Construction's New Growth Strategy Team in 2016 and as assistant general manager in charge of global strategy at Hanwha Energy in 2020. He began his full-scale management career in 2021 as head of the Premium Leisure Group (general manager) at Hanwha Hotels & Resorts.

In particular, Vice President Kim contributed to performance improvement by successfully establishing the U.S. hamburger brand Five Guys last year, leading customer diversification.

Following his roles as head of Hanwha Hotels & Resorts' Strategy Division and head of Hanwha Galleria's Strategy Headquarters, he concurrently took on strategic planning responsibilities at Hanwha Robotics, launched in October last year. Recognized for his management capabilities in retail and new business sectors, he was promoted from executive director to vice president of Hanwha Galleria's Strategy Headquarters in November last year. In January, he was appointed vice president and head of Hanwha Construction's Overseas Business Division.

Meanwhile, Vice President Kim has been steadily purchasing Hanwha Galleria shares since March last year. Through this, as of December 20 last year, he raised his stake to 1.47%, becoming the second-largest shareholder of Hanwha Galleria. He has continued to make additional purchases and currently holds a 1.66% stake. He is working without compensation at Hanwha Robotics, a deficit-afflicted affiliate.

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