Hanwha’s Year in Review 2023
In 2023, Hanwha demonstrated that the planet's future starts with us. The company expanded its ongoing commitment to sustainability this year, charting innovative paths for growth and forging new partnerships across multiple sectors. From the launch of Hanwha Ocean to numerous advancements in clean energy, let's revisit the stories that defined Hanwha's past year and shed light on the importance of sustainability in building a better world for everyone.
Top 7 Most Viewed Stories and Series of 2023
As the world embarked on a race to net zero, Hanwha recognized that there was no “one size fits all” solution to the global energy crisis — each country requires a tailored approach as unique as its citizens. That’s why, in 2023, the company took a comprehensive approach to the energy transition with restorative innovations and flexible solutions that span the entire value chain.
This year, Hanwha pioneered efforts in sustainable energy development, from advancements in hydrogen energy to energy storage systems (ESS), emphasizing its role in propelling the world towards a greener future. The company also planted its 10th Hanwha Solar Forest, accompanied by a pledge to the World Economic Forum's 1t.org to create 20 Solar Forests by 2030. Seeking to highlight the key components in the journey to decarbonization, Hanwha Newsroom released a two-part feature series, “A New Era of Energy,” featuring an interview with professor Knut Einar Rosendahl from the Norwegian University of Life Sciences (NMBU). The company also celebrated the launch of Hanwha Ocean, marking a monumental moment in shipbuilding and marine energy solutions.
Beyond energy, Hanwha Solutions also received Global Recycled Standard (GRS) certification for all stages of its rPE supply chain, spotlighting the potential of rPE to transform the current plastics ecosystem. Throughout the year, CEOs from Hanwha Aerospace, Hanwha Qcells, and Hanwha Life also shared their company vision through the "Envisioning the Future" series.
Read on to explore Hanwha’s most engaging moments of 2023 and how the company is proactively shaping a more sustainable world.
Explore the Top 7 Stories and Series of 2023
Editor’s Picks for 2023
Hanwha Newsroom is also presenting its top Editor's Picks for 2023. In the energy sector, Hanwha pioneered advancements in hydrogen-to-gas turbine technology (H2GT), achieving a record-breaking 60% hydrogen co-firing rate in a medium-to-large-size gas turbine. The company also made history with the largest United States community solar partnership to date between Hanwha Qcells and Summit Ridge Energy. At the Paris Air Show, Hanwha Aerospace and Hanwha Systems highlighted their strengths as technical innovators both in the skies and in space, while in Indonesia, Hanwha Life acquired Lippo General Insurance to further expand its global reach.
Hanwha also found many ways to contribute to communities this year, such as partnering with the Centre Pompidou to establish a new cultural landmark in Seoul in 2025. Using its media façade, Hanwha Galleria broadcast its support for World Autism Awareness Day and Earth Hour, as well as expressing solidarity for those affected by the earthquakes in Türkiye and Syria.
From fintech and life insurance to renewable energy, learn more about Hanwha’s 2023 accomplishments with a hand-picked selection of the year’s top stories and achievements.
Explore the Editor’s Picks of 2023
Charting the Path Ahead
Every day, Hanwha strives to impact the planet through bold innovation and transformative solutions. By delivering a comprehensive portfolio of clean energy solutions, developing real alternatives for aging infrastructure, and exploring new ways to give back to global communities, Hanwha is forging a transformative path that both combats climate change and paves the way for a resilient, sustainable future.
As Hanwha reflects on another exciting year, it is also important to acknowledge that the work is far from finished. In 2024 and beyond, Hanwha will continue to foster sustainable solutions for people and the planet.
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Hanwha Aerospace
Hanwha Aerospace began operations in 1977, producing aircraft engines and film cameras. Since then, it has aggressively invested in R&D to grow into a major presence within the aircraft/gas turbine engine industry. Hanwha Aerospace’s dramatic evolution was made possible by the successful development of industry leading and proprietary technologies that give it the competitive edge needed to succeed around the world. In addition to technological advancement, Hanwha Aerospace also focuses on developing industry expertise and the ability to comprehensively address changing market demands as well as the ability to anticipate future market shifts.
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Hanwha Qcells
Hanwha Qcells (Hanwha Solutions Qcells division) is one of the world’s leading clean energy companies, recognized for its established reputation as a manufacturer of high-performance, high-quality solar cells, and modules, a portfolio of intelligent storage systems, and a growing international pipeline of large-scale renewable energy projects. Hanwha Qcells also provides renewable electricity retail services and packages to end customers the world over. The company is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with its diverse international manufacturing facilities in the U.S., Malaysia, China, and South Korea. Hanwha Qcells strives to offer Completely Clean Energy through the full spectrum of photovoltaic products, storage solutions, renewable electricity contracting, and large-scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa, and the Middle East, Hanwha Qcells provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental, and residential markets.
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Hanwha Solutions
Hanwha Solutions aims to deliver sustainable solutions for the planet through smart energy solutions and customer-focused materials. The Company operates its business through three divisions: Qcells, Chemical, and Insight. The Qcells Division offers total energy solutions from photovoltaic module manufacturing, power plant operation to electricity retailing service. Long recognized as a prominent leader in the chemicals industry, the Chemical Division is growing into a global green energy materials company with its cutting-edge solutions for eco-friendly materials. The Insight Division is providing differentiated solutions through comprehensive development and financing for projects such as cities, smart green industrial complexes, renewable energy, premium real estate and premium content. With its innovative technologies for sustainable growth, Hanwha Solutions strives to become a global leader in bringing a better future for humanity.
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Hanwha Life
Established in 1946, Hanwha Life is a leading life insurance company that is both the first and the oldest in South Korea. Early on, we played a critical role in developing the insurance industry and the country’s economic growth.
In 2017, we expanded but made sure to stay structurally sound. We reported total assets of USD 102.96 billion. At the end of 2017, we achieved a 206.4 percent risk-based capital (RBC) ratio, demonstrating the soundness of our asset quality. Our strong credit ratings from both domestic agencies and abroad attest to our creditworthiness. We have received sterling AAA credit ratings from South Korea’s top rating agencies for the past eleven years. From abroad, we received global credit ratings of A1 from Moody's and A+ from Pitch international credit rating agencies.
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Hanwha Ocean
Hanwha Ocean is a leading global company with extensive expertise and experience in the shipbuilding and offshore industry. Boasting the world’s most competitive LNG carriers built with eco-friendly and highly efficient technology, the company has continuously pioneered new businesses since 1973, producing a vast range of vessels, including commercial ships, drillships, and specialty ships. Hanwha Ocean will be at the forefront of pioneering advanced marine solutions for decarbonization and further expand Hanwha’s green energy ecosystem to create positive, sustainable change throughout the world.
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Hanwha Galleria
Founded in 1976, Hanwha Galleria has specialized in retail services with a strong focus on department stores. Along with Galleria Luxury Hall, South Korea’s first and premier department store, we provide differentiated customer experiences via a network of department stores in local areas. We also operate other retail businesses, including global brand direct sourcing, retail sales of exclusive brands and Food & Beverage operations.
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Hanwha Systems
As a leading global total solutions company, Hanwha Systems provides differentiated smart technologies in defense ICT and information infrastructure. In August 2018, we launched the new ICT division through the merger with Hanwha S&C. Our ICT division will enable us to increase our leadership in defense electronics by leveraging advanced defense IT and system integration capabilities. And by strengthening our SI business competencies, we will be able to expand into areas of public infrastructure and private security.
