Headlines for March 2017
1. [Hanwha Group] Held ‘WITH Conference’ on the topic of establishing a young and future-oriented organizational culture
In his commemoration speech for the 64th Anniversary, Chairman Kim Seung-youn said that rejecting bureaucracy, opportunism, and embracing an easy-going attitude while striving to maintain a perpetually young company must be the future image of Hanwha, and he emphasized that Hanwha members must stick together with young thoughts. In order to establish a future-oriented and youthful organizational culture, the Hanwha WITH Conference 2017 was held. It identified, shared, and awarded outstanding organizational culture cases and success with the Group’s recommended tasks.
The first Hanwha WITH Conference was held on the topic of development of female talents. Last year’s conference was held on the topic of respecting the diversity of organizational culture. This year’s topic was establishing a young and future-oriented organizational culture. Unlike the previous two conferences, this year’s conference covered more in-depth concerns not only for female employees but also for all Hanwha members.
As Hanwha Group aims to become a global leader, the Group is trying to grow in hardware as well as in software. Starting from Hanwha WITH Conference 2017, Hanwha is planning to prepare a foundation for the new jump through an innovative and challenging organizational culture that suits a leading global company. We look forward to seeing a young Hanwha that everyone wants to work for where employees can express their creativity freely.
2. [Hanwha Total Petrochemical] Received a level-8 rating, the highest ever in Korea, from International Safety Rating System (ISRS), the world’s most trusted safety evaluation rating system
Hanwha Total received a level-8 rating from the International Safety Rating System (ISRS), and it is the first company in Korea to receive this rating from the ISRS. The ISRS is an auditable safety management system marketed by DNV GL, which is the world's largest classification society, and Hanwha Total has been recognized for its global level safety management. Hanwha received ISRS level-8 rating for the first time in Korea, and there are only nine companies in the world that have achieved this rating. Since there are no companies that have received levels 9 or 10 yet, the level-8 rating is the highest so far.
The 40 year-old ISRS evaluates a company’s overall management systems in areas such as safety, health, environment, and quality. After the evaluation, it rates a company from levels one to ten to prevent accidents and help manage losses. It is known as the most trusted safety evaluation rating system. Global companies such as GE, ExxonMobil, Chevron, and 23% of 100 Fortune companies are using this program to prevent accidents and manage losses.
Hanwha Total’s safety management system is being recognized so that companies in the same industry as well as in other industries in Korea could actively benchmark their standards. In order to increase the level of safety, the employees in charge and the top management are going to upgrade the areas of improvement according to the evaluation. The company is also going to strengthen the safety management of their partner companies who are working in the plant. Since last year, the company has placed safety managers in proportion to workers working in the factory. They also support their partner companies so that they can manage safety independently by providing all kinds of incentives, including prize money, to outstanding partner companies.
This year, Hanwha Total has adopted a safety rating evaluation systems for their partner companies for the first time in Korea. They expect their partner companies to prevent accidents, improve loss management, and establish a global top-level safety management system.
3. [Hanwha Group] The PyeongChang 2018 Olympic Torch, produced by Hanwha Corporation was unveiled
The PyeongChang 2018 Olympics torch, which was made by Hanwha Corporation, has been unveiled. It is designed so that the flame will continue to burn in Korea’s winter weather conditions, including strong wind and heavy snow. On February 9th, the torch was unveiled at the official countdown ceremony for the opening day. The torch is 700mm in length, representing the altitude of PyeongChang, which is 700 meters above sea level. It weighs 1.3 Kg and the top is made of steel and the rest of the torch is made of aluminum. The torch is designed with an upwardly-spiraling flame, and represents some cultural features of Korea, and the message of Olympic spirit which connects five continents into one.
One of the unique features of the torch is that it has four partitions. An umbrella shape cap is placed on the top of the torch, which helps rain to run outside of the burner system, minimizing the effects of heavy snow and rain.
The motif of the torch’s surface comes from traditional white porcelain, which has elegant lines and the color white which represents winter Olympics, a festival of snow and ice. The handle engraving of people holding hands with each other symbolizes all of the people in the world joining the torch relay.
Hanwha provided support with the fireworks for the Seoul Olympics held in 1988, and the company is going to provide them again for the opening and closing ceremonies of the PyeongChang Winter Olympics and Paralympics. Hanwha is going to sponsor 25 billion won in total, including about 8,000 torches, which are going to be used during the 100 days prior to the opening day.
We hope that the PyeongChang Olympic torch with its beautiful design and excellent technical features becomes a symbol that touches people’s hearts and delivers a message of happiness.
4. [Hanwha Corporation, Hanwha Techwin, Hanwha Systems, Hanwha Defense Systems] Hanwha’s Four Defense Companies jointly participated in the IDEX 2017, one of the largest international defense exhibition and conferences
IDEX 2017, the largest international defense exhibition and conference in the Middle East and Africa, was held in Abu Dhabi, the capital of the Arab Emirates, from February 19-23. About 1,200 companies from 60 different countries participated in the exhibition. Hanwha’s four defense companies set up an integrated display and sought opportunities to become a global defense company.
Four defense companies: Hanwha Corporation, Hanwha Techwin, Hanwha Defense, and Hanwha Systems displayed their main products at the International Defense Exhibition & Conference (IDEX) 2017 and actively carried out an overseas marketing campaign.
Hanwha Corporation focused on promoting their defense technology competence, which has reached the global level, and introduced a guided weapon called Chunmoo, and the newest weapon system called Korean Ballistic Aerial Target System (K-BATS), which can be used for evaluating the performance of an anti-aircraft defense missile.
Particularly, Hanwha Corporation Defense Division signed an MOU with Raytheon in America for a joint business project through offsets. This MOU is a result of purchasing the Korean Air Force’s medium-range air-to-air missile called AMRAAM. They are going to start developing a laser-guided bomb (GBU-12) for joint business ventures in the overseas market in the future, including the Middle East. Hanwha Corporation is going to supply MK-82 in this project.
Hanwha Techwin introduced a K9 self-propelled howitzer with two other models and a model of a K10 ammunition resupply vehicle. K9, which is recognized for its best performance in the world, was first exported to Turkey in 2001. After exporting to Poland in 2014, the company started targeting the Northern European market and Middle Eastern countries and continues to expand to the overseas market through aggressive marketing.
Hanwha Systems has a strategy to expand their overseas business through the development of export opportunities to strategic countries. For this, they introduced surveillance, reconnaissance, command and control, and communication products that function like a brain and sensory organs of a military weapon system such as electronic optics, radar, a combat system, and electronic warfare equipment.
Hanwha Defense introduced a real K21 infantry fighting vehicle and five models of a 105mm light tank and an armored wheeled vehicle. The company plans to expand their influence in the Middle East market with their surface-to-air and air-to-air system technologies, which have been accumulating for 40 years.
Through this exhibition, four defense companies expect to participate in the Saudi Vision 2030 Project. They are going to establish a foundation as a global defense company and target the overseas market by actively seeking new business opportunities in the Middle East and Africa.
5. [Hanwha Group] The Hanwha Finance Classic is promoted to a KLPGA major tournament
The Hanwha Finance Classic, which is held at Golden Bay Golf & Resorts every year, is not just a part of the KLPGA tour but has now become a world-class golf event. We are pleased to announce that the Hanwha Finance Classic has been promoted to a KLPGA major tournament starting this year. Since its beginning in 2011, the Hanwha Finance Classic has become the most want-to-win event among KLPGA players, with a total of 1.2 billion won prize money and 300 million won for the winner, which is the largest prize in Korea. KLPGA has decided to promote the Hanwha Finance Classic to one of the five official major tournaments of the KLPGA Tour, starting this year.
Since 1990, Hanwha Group had held the Hanwha Cup Seoul Women’s Open for eight consecutive years. Hanwha contributed to the development and revitalization of the women’s golf tour and helped discover many outstanding players in Korea as they have been succeeding in the Hanwha Finance Classic since 2011.
Hanwha Group is going to work hard for this event so that players can play at a top level suitable to a KLPGA major tournament and make the event an international event that represents Korea.