[Breaking] Hanwha Corporation Soars 25.6% Intraday After Announcing Spin-Off

Hanwha Corporation has seen a sharp intraday surge after announcing its decision to proceed with a spin-off.

As of 1:50 p.m. on January 14, Hanwha shares were trading at 128,800 won, up 25.66% from the previous session. At one point, the price rose as high as 130,700 won.

Once the spin-off is completed, affiliates in the technology sector-such as Hanwha Vision, Hanwha Momentum, Hanwha Semitek, and Hanwha Robotics-as well as affiliates in the lifestyle sector-including Hanwha Galleria, Hanwha Hotels & Resorts, and Ourhome-will be incorporated into the newly established entity, Hanwha Machinery & Service Holdings.