Hanwha Spin-Off Led by Dongseon Kim Passes Preliminary KOSPI Relisting Review
On April 23, the Korea Exchange announced that it had approved the relisting eligibility of Hanwha Machinery & Services Holdings, a newly established company created from the spin-off of Hanwha Corporation. This company has been identified as the tech and lifestyle holding company to be led by Dongseon Kim, the third son of the Hanwha Group chairman, who recently left Hanwha.
The exchange stated that, following a preliminary review regarding the relisting of Hanwha Machinery & Services Holdings, the company has satisfied the listing requirements under the KOSPI Market Listing Regulations.
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Previously, in January, Hanwha convened a board meeting and resolved to establish Hanwha Machinery & Services Holdings, which will oversee its tech affiliates—such as Hanwha Vision, Hanwha Momentum, Hanwha Semitec, and Hanwha Robotics—as well as its lifestyle affiliates, including Hanwha Galleria, Hanwha Hotels & Resorts, and Ourhome. The spin-off is scheduled to be completed in July, following the necessary procedures, including an extraordinary shareholders' meeting in June.
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