Seung-yeon Kim, Chairman of Hanwha, Gifts 11.32% Stake of Hanwha Co. to His Three Sons (Update)

Kim Seung-yeon, Chairman of Hanwha Group, gifted half of his 22.65% stake in Hanwha Corporation, amounting to 11.32%, to his three sons.

Hanwha announced on the 31st that Chairman Kim Seung-yeon transferred his shares in Hanwha Corporation to Vice Chairman Kim Dong-kwan, President Kim Dong-won, and Vice President Kim Dong-sun, allocating 4.86%, 3.23%, and 3.23% respectively.

Kim Seung-yeon, Chairman of Hanwha Group. Photo by Hanwha

After the transfer, the shareholding structure of Hanwha Corporation, the group's holding company, will be reorganized as follows: Hanwha Energy 22.16%, Chairman Kim Seung-yeon 11.33%, Vice Chairman Kim Dong-kwan 9.77%, President Kim Dong-won 5.37%, and Vice President Kim Dong-sun 5.37%.

The three sons currently hold 100% of Hanwha Energy's shares, and with this share transfer, their combined stake in Hanwha Corporation will reach 42.67%, completing the succession of management rights.

The company stated, "Chairman Kim will retain his position as Chairman of Hanwha Group after the share transfer and will continue to provide management advice and support global business based on his professional management expertise and global network."

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