Hanwha Group (Korean: 한화그룹; Hanja: 한華; RR: Hanhwa Geurup) is a large business conglomerate (chaebol) in South Korea.[3] Founded in 1952 as Korea Explosives Co. (Korean: 한국화약주식회사; Hanja: 韓國火藥株式會社), the group has grown into a large multi-profile business conglomerate, with diversified holdings stretching from explosives, their original business, to retail and financial services. In 1992 the company adopted its abbreviation as its new name: "Hanwha".
Kim Jong-hee[a] (Korean: 김종희; Hanja: 金鍾喜; MR: Kim Chonghui) founded Korea Explosives Co. in October 1952. Prior to founding the company, Kim worked as a gunpowder engineer for the 'Chosun Explosives Factory', a Japanese company. Later, he won the bid for the company and its Incheon factory and started the company there.[4][5] From 1952–1963, the Korea Explosives Co. produced gunpowder domestically, which was needed for construction and engineering of infrastructure. In the same time period, the Korea Explosives Co. started producing nitroglycerin, which gave it a monopoly in the field of explosives and gunpowder.[4] In 1959, the Hanwha group started producing domestic dynamite.[5] From 1964–1980 the Hanwha group started to make investments in various fields, starting the foundation of it becoming a chaebol. Later in the mid 1960s, Hwaseong Korea was founded (now Hanwha Solutions), and entered the petrochemical market. Hanwha increased its competitiveness in the machinery market by acquiring Shinhan Bearing Co.[4] Hanwha founded Gyeongin Energy in 1969, and the Korea Precision Industry (renamed to Hanwha Machinery Co., Ltd.) followed suit, being founded in 1971.[4] From 1981 to 1995, Kim Seung-yeon became the second president of the company, and more investments in diverse markets were initiated. It expanded further into the chemical industry by acquiring both Hanyang Chemical (now also Hanwha Solutions) and Korea Dow Chemical in 1982, expanded into the resorts industry by acquiring the Jung-A group (now Hanwha Hotels & Resorts) in 1985, and expanded into the leisure and distribution industry by acquiring Hanyang Distribution (now Hanwha Galleria) in 1986.[4] In the 1990s, the Hanwha Group founded Hanwha BASF Urethane, Hanwha NSK Precision, Hanwha GKN, Hanwha Machinery Hub Eye Bearings, SKF Hanwha Auto Parts, and Hanwha Motors. In 1992, the Korea Explosives Co. changed its name to Hanwha, and Binggrae was separated and made independent from the company.[4]
2000–Present
In 2002, Hanwha expanded into the life insurance industry by acquiring Korea Life Insurance. From 2007-present, Hanwha is undergoing global expansion. Hanwha acquired Azdel, an American company in 2007 and created a PvC plant in Ningbo, Zhejiang, China in 2011.[4]Hanwha Q CELLS was launched in 2012, and is now the 5th largest producer of solar cells in the world.[6] In 2014, Hanwha acquired Samsung Techwin, Samsung Thales, and Samsung Total.[4] Since 2019, Hanwha is operating the largest solar module plant (1.7 GW) in the United States; It is located in Dalton, Georgia.[7] As of 2019, Hanwha has a total of 466 affiliates, 84 being domestic and 382 overseas.[4]
Controversy
In 2011, Kim Seung-yeon, the current chairman of the Hanwha Group, was fined 5.1 billion KRW and was jailed for 4 years on charges of embezzlement and breach of trust.[8][3]
Hanwha QCELLS is the 5th largest producer of solar cells in the world. In a meeting held on May 21st, 2022, Kim Dong-gwan, the president of Hanwha Solutions, laid down a plan to spend 36.7 trillion KRW on its energy and aerospace sectors,[9] and said he wanted to commit the company to solar energy to reduce its carbon footprint and supply high quality energy. Additionally, he announced plans to build another modular factory in the United States.[7] In order to tackle the problem of stagnating bee populations, Hanwha has created a solar beehive, that helps to protect and maintain a stable bee population.[10] Hanwha QCELLS has launched a new brand that ventures into the electric vehicle charging market called Hanwha Motiev in 2022.[11]
Aerospace & Mechatronics
Hanwha is also extensively investing in the space market. Hanwha jointly established "Space Research Center" with KAIST, is developing urban air mobility with American company Over Air, testing an electric propulsion system that would be used in air taxis, and took a 8.8% stake in British company OneWeb, a satellite communication service provider as of 2022.[12]
^"The world's biggest solar photovoltaic cell manufacturers". Power Technology. 2016-04-24. Retrieved 2022-05-23.
^ ab"'김승연 대신' 장남 김동관 한화솔루션 사장, 태양광 투자 강조". 디지털타임스 (in Korean). Retrieved 2022-05-24.
^"Hanwha boss indicted for embezzlement". koreatimes. 2011-01-30. Retrieved 2022-05-24.
^Da-sol, Kim (2022-05-24). "Hanwha Group to spend W37.6tr to nurture energy, aerospace sectors". The Korea Herald. Retrieved 2022-05-24.
^NEWSIS (2022-05-19). "한화그룹, 태양광 전력 활용 탄소저감벌집 국내 최초 공개". newsis (in Korean). Retrieved 2022-05-24.
^Reporter, Park Sae-jin (2022-05-13). "Hanwha Q CELLS launches new brand to make foray into EV charging service market". www.ajudaily.com. Retrieved 2022-05-24.
^"한화그룹, 우주산업·그린에너지 분야 집중 육성…세계 첫 차세대 태양광 모듈 양산 추진". hankyung.com (in Korean). 2022-05-03. Retrieved 2022-05-24.
hanwha, group, korean, 한화그룹, hanja, 한華, hanhwa, geurup, large, business, conglomerate, chaebol, south, korea, founded, 1952, korea, explosives, korean, 한국화약주식회사, hanja, 韓國火藥株式會社, group, grown, into, large, multi, profile, business, conglomerate, with, diversif. Hanwha Group Korean 한화그룹 Hanja 한華 RR Hanhwa Geurup is a large business conglomerate chaebol in South Korea 3 Founded in 1952 as Korea Explosives Co Korean 한국화약주식회사 Hanja 韓國火藥株式會社 the group has grown into a large multi profile business conglomerate with diversified holdings stretching from explosives their original business to retail and financial services In 1992 the company adopted its abbreviation as its new name Hanwha HanwhaHanhwa 63 City building in Yeouido SeoulNative nameKorean 한화그룹FormerlyKorea Explosives GroupTypePublicTraded asKRX 000880IndustryConglomorateFoundedOctober 1952 70 years ago 1952 10 FounderKim Chong heeHeadquartersSeoul South KoreaArea servedGlobalKey peopleKim Seung yeon Chairman and CEO Revenue 72 890 000 000 000 2020 1 Operating income 2 927 888 000 000 2 Hanwha Corp only Net income 19 327 000 000 2 Hanwha Corp only OwnersEstate of Kim Seung yeon 32 02 Hanwha through treasury stock 8 08 National Pension Service 8 67 Number of employees43 690 2020 Websitehttps www hanwha co kr Korean https www hanwha com English Contents 1 History 1 1 1952 1999 1 2 2000 Present 1 2 1 Controversy 2 Key networks 3 Business areas 3 1 Solar amp Energy 3 2 Aerospace amp Mechatronics 4 Affiliates 13 5 Awards 6 Sports teams 7 See also 8 Notes 9 References 10 External linksHistory Edit1952 1999 Edit Kim Jong hee a Korean 김종희 Hanja 金鍾喜 MR Kim Chonghui founded Korea Explosives Co in October 1952 Prior to founding the company Kim worked as a gunpowder engineer for the Chosun Explosives Factory a Japanese company Later he won the bid for the company and its Incheon factory and started the company there 4 5 From 1952 1963 the Korea Explosives Co produced gunpowder domestically which was needed for construction and engineering of infrastructure In the same time period the Korea Explosives Co started producing nitroglycerin which gave it a monopoly in the field of explosives and gunpowder 4 In 1959 the Hanwha group started producing domestic dynamite 5 From 1964 1980 the Hanwha group started to make investments in various fields starting the foundation of it becoming a chaebol Later in the mid 1960s Hwaseong Korea was founded now Hanwha Solutions and entered the petrochemical market Hanwha increased its competitiveness in the machinery market by acquiring Shinhan Bearing Co 4 Hanwha founded Gyeongin Energy in 1969 and the Korea Precision Industry renamed to Hanwha Machinery Co Ltd followed suit being founded in 1971 4 From 1981 to 1995 Kim Seung yeon became the second president of the company and more investments in diverse markets were initiated It expanded further into the chemical industry by acquiring both Hanyang Chemical now also Hanwha Solutions and Korea Dow Chemical in 1982 expanded into the resorts industry by acquiring the Jung A group now Hanwha Hotels amp Resorts in 1985 and expanded into the leisure and distribution industry by acquiring Hanyang Distribution now Hanwha Galleria in 1986 4 In the 1990s the Hanwha Group founded Hanwha BASF Urethane Hanwha NSK Precision Hanwha GKN Hanwha Machinery Hub Eye Bearings SKF Hanwha Auto Parts and Hanwha Motors In 1992 the Korea Explosives Co changed its name to Hanwha and Binggrae was separated and made independent from the company 4 2000 Present Edit In 2002 Hanwha expanded into the life insurance industry by acquiring Korea Life Insurance From 2007 present Hanwha is undergoing global expansion Hanwha acquired Azdel an American company in 2007 and created a PvC plant in Ningbo Zhejiang China in 2011 4 Hanwha Q CELLS was launched in 2012 and is now the 5th largest producer of solar cells in the world 6 In 2014 Hanwha acquired Samsung Techwin Samsung Thales and Samsung Total 4 Since 2019 Hanwha is operating the largest solar module plant 1 7 GW in the United States It is located in Dalton Georgia 7 As of 2019 Hanwha has a total of 466 affiliates 84 being domestic and 382 overseas 4 Controversy Edit In 2011 Kim Seung yeon the current chairman of the Hanwha Group was fined 5 1 billion KRW and was jailed for 4 years on charges of embezzlement and breach of trust 8 3 Key networks EditR amp D Germany Malaysia USA China and South Korea Manufacturing Germany Czech Republic Malaysia China South Korea and USA Marketing amp Sales Australia Canada Japan USA China and South KoreaBusiness areas EditSolar amp Energy Edit Hanwha QCELLS is the 5th largest producer of solar cells in the world In a meeting held on May 21st 2022 Kim Dong gwan the president of Hanwha Solutions laid down a plan to spend 36 7 trillion KRW on its energy and aerospace sectors 9 and said he wanted to commit the company to solar energy to reduce its carbon footprint and supply high quality energy Additionally he announced plans to build another modular factory in the United States 7 In order to tackle the problem of stagnating bee populations Hanwha has created a solar beehive that helps to protect and maintain a stable bee population 10 Hanwha QCELLS has launched a new brand that ventures into the electric vehicle charging market called Hanwha Motiev in 2022 11 Aerospace amp Mechatronics Edit Hanwha is also extensively investing in the space market Hanwha jointly established Space Research Center with KAIST is developing urban air mobility with American company Over Air testing an electric propulsion system that would be used in air taxis and took a 8 8 stake in British company OneWeb a satellite communication service provider as of 2022 12 Chemicals amp Materials Construction Financial Services Leisure amp LifestyleE sportsAffiliates 13 EditThis section does not cite any sources Please help improve this section by adding citations to reliable sources Unsourced material may be challenged and removed May 2022 Learn how and when to remove this template message Hanwha Corporation 14 Hanwha AerospaceHanwha Techwin 15 Hanwha Systems 16 Hanwha Defense 17 Hanwha Power Systems 18 Hanwha Precision Machinery 19 Hanwha SolutionsHanwha Impact 20 Hanwha TotalEnergies Petrochemical 21 Yeochun NCC 22 Hanwha Engineering amp Construction 23 Hanwha Q Cells 24 Hanwha Energy 25 Hanwha City Development 26 Hanwha Life 27 Hanwha Asset Management 28 Hanwha General Insurance 29 Hanwha Savings Bank 30 Hanwha Hotels amp Resorts 31 Hanwha Galleria 32 Hanwha Galleria Timeworld 33 Hanwha 63 City 34 Hanwha Station Development 35 Hanwha Eagles 36 Hanwha Hotels amp Resorts 37 Awards EditThis section relies excessively on references to primary sources Please improve this section by adding secondary or tertiary sources Find sources Hanwha Group news newspapers books scholar JSTOR May 2022 Learn how and when to remove this template message Old Tower Industrial Medal November 1982 5 non primary source needed failed verification 100 Million Export Tower Award November 1982 5 Silver Tower Industrial Medal and the 1 Billion Export Tower Award November 1998 5 Gold Tower Industrial Medal 45th Annual Trade Day Ceremony December 2008 5 2 Billion Export Tower Award 45th Annual Trade Day Ceremony December 2008 5 non primary source needed failed verification Sports teams EditHanwha Eagles 38 Hanwha Life EsportsSee also EditList of Korean companies Economy of South Korea Aqua Planet aquarium BinggraeNotes Edit In this Korean name the family name is Kim References Edit catch co kr 한화그룹 개요 a b WSJ Hanwha Corporation Income statement a b South Korea s Hanwha chief jailed for 4 years Reuters 2012 08 16 Retrieved 2020 06 18 a b c d e f g h i 한화그룹 terms naver com in Korean Retrieved 2022 05 23 a b c d e f g Hanwha Corporation www hanwhacorp co kr Retrieved 2022 05 23 The world s biggest solar photovoltaic cell manufacturers Power Technology 2016 04 24 Retrieved 2022 05 23 a b 김승연 대신 장남 김동관 한화솔루션 사장 태양광 투자 강조 디지털타임스 in Korean Retrieved 2022 05 24 Hanwha boss indicted for embezzlement koreatimes 2011 01 30 Retrieved 2022 05 24 Da sol Kim 2022 05 24 Hanwha Group to spend W37 6tr to nurture energy aerospace sectors The Korea Herald Retrieved 2022 05 24 NEWSIS 2022 05 19 한화그룹 태양광 전력 활용 탄소저감벌집 국내 최초 공개 newsis in Korean Retrieved 2022 05 24 Reporter Park Sae jin 2022 05 13 Hanwha Q CELLS launches new brand to make foray into EV charging service market www ajudaily com Retrieved 2022 05 24 한화그룹 우주산업 그린에너지 분야 집중 육성 세계 첫 차세대 태양광 모듈 양산 추진 hankyung com in Korean 2022 05 03 Retrieved 2022 05 24 Products amp Services Hanwha Corporation Hanwha Techwin Hanwha Systems Hanwha Defense Hanwha Power Systems Hanwha Precision Machinery Hanwha Impact Hanwha Total Petrochemical Yeochun NCC Hanwha Engineering amp Construction Hanwha Q CELLS Hanwha Energy Hanwha Solutions City Development Division Hanwha Life Hanwha Asset Management Hanwha General Insurance Hanwha Savings Bank Hanwha Hotels amp Resorts Hanwha Solutions Galleria Division Hanwha Galleria Timeworld Hanwha 63 City Hanwha Station Development Hanwha Eagles Hanwha Hotels amp Resorts Estate Division Hanwha Eagles Retrieved 19 June 2019 External links Edit Wikimedia Commons has media related to Hanwha Official website Official website in Korean Retrieved from https en wikipedia org w index php title Hanwha Group amp oldid 1117504828, wikipedia, wiki, book, books, library,
