Headlines for January 2017
1. [Hanwha Advanced Materials] Held a completion ceremony of a factory in Mexico
Hanwha Advanced Materials is growing as a materials and components manufacturer for global automobiles with their networks throughout the world. In February, they set up a company in Mexico, the 8th largest country in the world for automobile manufacturing. In order to step up their business in the global market, they built a plant in Mexico, which is a strategic base for targeting the North American market, and held a completion ceremony.
Mexico is an automobile manufacturing base for North America and it is the fastest growing manufacturing country in Central and South America. In order to cope with automakers’ demand for global sourcing, Mexico is an advantageous location for securing an oversea manufacturing base. On December 1st, Hanwha Advanced Materials held a completion ceremony for their new plant located in Nuevo Leon, Mexico.
At the ceremony, about 100 people attended. These included Lee Sun-suk, CEO of Hanwha Advanced Materials, Samuel Pena, vice minister of the Ministry of Economy & Labor in Nuevo Leon, and people from Hanwha Advanced Materials’ partner companies such as Kia Motors and Hyundai Mobis.
CEO Lee expressed his appreciation to those who made the completion possible since setting-up the subsidiary in Mexico. He promised to do his best to supply the highest quality products to the automobile manufacturers.
Through the new plant in Mexico, we hope that the status of Hanwha Advanced Materials rises and their global business competence jumps up to the next level.
2. [Hanwha Life] Signed an MOU with Woori Bank to expand its business in South East Asia
The Korean Wave in finance is essential to the growth of financial companies. Hanwha Life Insurance (HLI), which has successful business bases in Vietnam, China, and Indonesia, signed an MOU with Woori Bank to expand their businesses in South East Asia.
On December 22nd, HLI and Woori Bank signed a MOU at 63 Building to explore global bancassurance and fintech markets together.
15 people attended the signing ceremony, including Cha Nam-gyu, CEO of HLI and people involved in this project. And they discussed localization of outstanding Korean bancassurance products, co-development of global bancassurance, fintech products and services, and promotion and marketing of their collaborative products.
HLI and Woori Bank are going to sell customized bancassurance products such as saving insurance, endowment insurance, group insurance, and credit life insurance to local customers in China, Indonesia, and Vietnam. And they are also going to work together in the fintech area by developing a system for insurance payment and insurance premiums as they utilize a simple money transfer system.
We look forward to seeing HLI and Woori Bank play important roles as they accelerate the expansion of their business in the South East Asian financial market.
3. [Hanwha Group] Held “2016 Hanwha Social Contribution Awards”
Hanwha has created the value of living together with the founding principle ‘Serving The Country Through The Business’ and the social contribution philosophy ‘Going Further Together’. Since employees voluntarily participate in service activities, the sincerity of their actions has been recognized in Korea as well as overseas. On December 15th, 2016 Hanwha Social Contribution Awards ceremony was held during a workshop attended by people who are responsible for Hanwha social contribution campaigns of each affiliate.
The 2016 Hanwha Social Contribution Awards ceremony was held at the Hanwha Resort Yongin Besancon. The ceremony was attended by Choi Sun-mok, a senior executive president and a head of the communication team of the Group, awards recipients, and people who are responsible for the social contribution campaigns of each affiliate.
The Busan Regional Office of Hanwha Life Insurance, who most well-executed the social contribution campaign during 2016, received the Grand Prize. The Outstanding Achievement Awards went to the Hanwha Galleria and Hanwha Corporation Explosive Division headquarters, and the Excellence Awards were given to Hanwha Chemical Yeosu Plant and Hanwha Hotels & Resorts Seorak.
After that, the awards for outstanding volunteers and contributors were presented. Business units that have shown outstanding results in volunteer services, programs, and company PR areas also received awards.
This year’s ceremony was more special because the award ceremony was held with the workshop of people who are responsible for social contribution campaigns. Many Hanwha members worked hard doing service activities in 2016. Congratulations to all those who received awards.
4. [Hanwha Techwin] Signed a contract for exporting K9, a self-propelled artillery, to Poland
K9, a type of self-propelled artillery with a maximum firing range of 40km, was developed by Hanwha Techwin and the Agency for Defense Development (ADD) in 1998. Since it was delivered to the Korean Army in 2000, it has been recognized for its quality, and 280 of them were exported to Turkey. On December 14th, Huta Stalowa Wola (HSW), a Polish state-run defense industry company, and Hanwha Techwin signed a contract in Poland for the second time to supply K9 hulls.
The total size of the contract is 260 million dollars. Hanwha Techwin is going to export 96 hulls of this self-propelled artillery starting in 2017 through 2023.
Last October, Hanwha Techwin completed shipping 24 vehicles, which were for the first contract signed in December 2014. The company was able to get more orders thanks to the successful fulfillment of the first contract.
Moreover, the company expects many more additional orders in the near future as they are going to participate in the vehicle modification business using K9 hulls.
Hanwha Techwin is currently working on the export of K9 self-propelled artilleries to several European countries as they use this exporting opportunity to Poland. They are also planning to increase their marketing efforts to expand business in the European market.
5. [Hanwha Group] Distributed braille calendars for visually impaired people
“I want people who are visually impaired to enjoy the New Year as much as we do”. Chairman Kim Seung-youn proposed making braille calendars back in 2000, and this year is their 17th year of production. We have warm news that Hanwha is distributing the 2017 braille calendars for the blind which they can read with tips of their fingers.
Hanwha is spreading non-discrimination culture through braille calendars. The company is going to print 50,000 copies of the 2017 braille calendars and distribute them to the Korea Blind Union, other related groups, and individuals for free.
The braille calendar project started in 2000 when a person who is visually impaired sent an email to the Chairman to ask for his help. They began by printing 5,000 copies the first year. And in 2009, 50,000 copies were printed which was the largest volume in Korea. The total accumulated number is about 620,000 copies.
Most of the braille calendar making process is done by hand. And the calendars go through a professional level of quality assurance by the blind people. Especially, the year 2017 calendars have improved quality so that it will be much easier to use.
To the blind, a braille calendar has more meaning than just checking dates. They used to have to rely on someone else for managing their schedule, but now they can take care of it themselves.
The New Year’s excitement is delivered through braille calendars. And we look forward to seeing the delivery of more stories in the world through them.
6. [Hanwha Advanced Materials, Hanwha Chemical] Held “2016 Project Progress Review” for the second half of 2016 and “Science Day” respectively
In order for a company to grow in the age of limitless competition, the importance of R&D is increasing since we need to improve competence through continuing study and research and get closer to customers with differentiated products. Hanwha Advanced Materials held its 2016 Project Progress Review (PPR) for the second half of the year. And Hanwha Chemical R&D Center held a Science Day event. Let’s meet these Hanwha researchers who will make our future bright.
Hanwha Advanced Materials held a Project Progress Review (PPR) session for the second half of 2016 on December 7th at their Lightweight Composite Materials Center to collect opinions for the direction of research and to share the performance of their research projects.
At the session, they introduced the Lightweight Composite Materials Center, Electronic Materials R&D Center, and Solar Materials Center. They also discussed the research direction for next year and reported on the performance of each center’s study topics. Through the session, they gathered various opinions on how to improve efficiency of those study topics.
CEO Lee Sun-suk emphasized that the company has to strengthen its R&D competitiveness by improving the competence of individuals and teams in each center since the advanced material sector is a technology-intensive business. He also said that the company has to respond proactively to the global sourcing demand and the standardization of components for Korean automakers as well as global automakers.
Hanwha Chemical R&D Center held a Science Day on December 5th and all researchers, including a head of the R&D Center, attended.
At the Science Day, there were two parts: Poster Section and Innovation Technology Workshop. In the Poster Section, attendees discussed the progress and status of projects conducted in 2016 and the difficulties they had faced during the research and development process. At the Innovation Technology Workshop, they discussed new research projects they are continuously exploring and solutions to existing research items.
We look forward to seeing them exchanging information among Hanwha Chemical researchers and actively communicating through the Science Day so that they can establish a new research innovation culture.