Hanwha Appoints Representatives of 7 Subsidiaries... Kim Dong-kwan Named Head of Hanwha Impact Investment Division

Kim Dong-kwan, CEO of Hanwha Solutions. Photo by Hanwha

On the 29th, Hanwha Group announced the appointment of eight CEOs across seven affiliates, including Kim Dong-kwan, Vice Chairman of Hanwha and concurrently CEO of Hanwha Impact's investment division. Vice Chairman Kim plans to overcome the crisis in the petrochemical business and actively pursue new growth engines and new investment opportunities for the future. In particular, he will focus on proactive investments in strategic businesses such as future innovative technologies and strengthen overseas market penetration through a global network.

On the 29th, Hanwha Group announced the appointment of eight CEOs across seven affiliates: Hanwha Ocean, Hanwha Systems, Hanwha Energy, Hanwha Impact (investment/business), Hanwha Power Systems, Hanwha Momentum, and Hanwha Asset Management.

The key feature of this CEO appointment is the strategic reassignment of core executives with business expertise and global capabilities to proactively respond to uncertain internal and external management environments. The CEO appointments are expected to accelerate business transformation through generational change, pursue market-leading positions, and instill organizational tension through performance-oriented personnel decisions.

Earlier in July, CEO appointments were made for three affiliates in the petrochemical and energy sectors (Hanwha Solutions/Chemical, Hanwha Solutions/Q CELLS, Yeochun NCC). Each company plans to establish optimal organizations under the responsibility of the new CEOs, formulate next year's management strategies early, and execute business plans accordingly. The appointed CEOs will be officially confirmed through shareholders' meetings and board meetings according to each company's schedule.

CEOs Appointed with Business Expertise and Extensive Experience

Kim Hee-chul, currently CEO of Hanwha Energy and Hanwha Impact, has been appointed as the new CEO of Hanwha Ocean. Kim Hee-chul served as the inaugural CEO of Hanwha Total (formerly Samsung Total) at its launch in 2015, leading its stabilization and performance improvement. He has also held CEO positions at energy sector affiliates such as Hanwha General Chemical, Hanwha Q CELLS, and Hanwha Energy. He is regarded as the ideal candidate to lead Hanwha Ocean's growth and innovation, which is pursuing a leap to become a 'Global Ocean Solution Provider' through global business expansion and synergy creation with affiliates to strengthen the group's energy value chain.

Son Jae-il, CEO of Hanwha Aerospace, has been appointed as the new CEO of Hanwha Systems and will concurrently serve as CEO of both companies. Son Jae-il is a defense industry expert who has served as CEO of Hanwha Ground Defense, Hanwha Defense, and Hanwha Aerospace. He has played a leading role in 'K-Defense' by securing large-scale export contracts in Australia, Poland, and the Middle East. As CEO of Hanwha Systems, he is expected to accelerate synergy among defense affiliates and expand overseas business in defense electronics and communications.

From the left in the photo: Kim Hee-cheol, CEO of Hanwha Ocean; Son Jae-il, CEO of Hanwha Systems; Lee Jae-gyu, CEO of Hanwha Energy; Moon Kyung-won, CEO of Hanwha Impact/Business Division; Lee Gu-young, CEO of Hanwha Power Systems; Ryu Yang-sik, CEO of Hanwha Momentum; Kim Jong-ho, CEO of Hanwha Asset Management. Photo by Hanwha

Lee Jae-gyu, currently head of planning at Hanwha Energy, has been appointed as the new CEO of Hanwha Energy. Lee Jae-gyu has experience in overseas subsidiaries, finance, and renewable energy businesses and currently leads Hanwha Energy's planning division. Leveraging his experience in the energy sector and global expertise, he will strengthen core business competitiveness and drive Hanwha Energy's growth as a 'Top-Tier' developer in the United States.

Moon Kyung-won, currently head of the PTA business division at Hanwha Impact, has been appointed as the new CEO of Hanwha Impact's business division. Moon Kyung-won has served as head of the CA and PO business divisions at Hanwha Solutions' Chemical division and as head of planning at Hanwha Total Energies. As a petrochemical expert, he plans to contribute to improving PTA business profitability and successfully advancing new businesses through his operational experience and strategic planning expertise.

Lee Gu-young, former CEO of Hanwha Solutions' Q CELLS division, has been appointed as the new CEO of Hanwha Power Systems. Lee Gu-young has served as head of Hanwha Q CELLS' U.S. subsidiary and CEO of Hanwha Solutions' Chemical and Q CELLS divisions. He is a global strategy expert who has led the group's overseas business expansion. Based on his successful global business experience, he will lead Hanwha Power Systems' expansion in overseas markets for energy equipment such as compressors and gas turbines, as well as the ship solutions business.

Ryu Yang-sik, head of the secondary battery business division at Hanwha Momentum, has been appointed as the new CEO of Hanwha Momentum. Ryu Yang-sik is a production technology engineer with expertise in overall production processes and experience in establishing global secondary battery production infrastructure. He will contribute to strategic initiatives and business expansion in response to the growth of the secondary battery market and environmental changes.

Kim Jong-ho, currently head of management at Hanwha Asset Management, has been appointed as the new CEO of Hanwha Asset Management. Kim Jong-ho is an investment expert who has served as head of alternative investments and head of future strategy at Korea Investment Corporation. Based on his diverse investment experience and expertise, he will lead the establishment of a PE and venture capital specialized management company and the leap to becoming a global asset management firm.

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