Headlines for January 2018

1. [Hanwha Group] Chairman Seung Youn Kim Visited Hanwha Q CELLS' Qidong Plant and the Beijing Office of Hanwha Advanced Materials in China

On December 11th, Chairman Seung Youn Kim visited the Qidong Plant of Hanwha Q CELLS Qidong Plant, which is the Group's solar business base in China. He congratulated the employees for achieving cost competitiveness and the best level of quality by overcoming the difficult business situations that they had faced in the beginning of the acquisition. Lastly, he wrapped up his visit by attending a monument unveiling ceremony that signified the motto, 'Let's make Hanwha's dream of becoming the world's No. 1 together'.

The next day, Chairman Seung Youn Kim visited the Hanwha Advanced Materials the Beijing Office. Sun-suk Lee, CEO of Hanwha Advanced Materials, introduced the office and the visitors toured the production line, which manufactures lightweight composite materials for global automobile companies.

On the following day, December 13th, the chairman joined the China-Korea business forum as a member of President Moon's economic diplomacy team. He met with Chinese politicians and business people.

The Group currently holds production subsidiaries for Hanwha Techwin, Hanwha Chemical, and Hanwha Total's. Hanwha Life has also established a subsidiary in China, conducting about six trillion won in trade and generating revenues of two trillion won a year. We hope that Hanwha plays a leading role as it continues to contribute to the vitalization of economic trade between Korea and China.

2. [Hanwha Group] Hanwha Olympic Torch Relay in Daejeon Area

The Olympic torch relay is an event that announces the beginning of the 2018 Pyeongchang Winter Olympics to the world. With the slogan "Let Everyone Shine", the relay began on November 1st in Incheon, and the torch arrived in Daejeon on December 9th and lit up the Daejeon area for four days.

The Group selected 101 torchbearers from among sports players who have made the Hanwha shine, Hanwha employees who submitted special stories, and employees of partner companies. These torchbearers are participating in major cities all around Korea and wishing for a successful Olympic Games.

On December 9th, the first day of the torch relay in Daejeon, Park Chan-ho, a former Hanwha Eagles' player who used to play in the Major Leagues, and Kim Tae-kyun, a Hanwha Eagles player, participated in the relay as Hanwha torchbearers. 9,640 Olympic torches created by Hanwha helped 7,500 torchbearers light up Korea for 2,018km and 101 days. We will continue to show our support for a successful Games until the end of the torch's journey.

3. [Hanwha Life] Held the Korea Service Grand Prix 'Hall of Fame' Dedication Stone Unveiling Ceremony

Hanwha Life held an unveiling ceremony for a dedication stone because they made for the Hall of Fame of Korea Service Grand Prix. The Korea Service Grand Prix is given to a company or an organization that has established a customer-oriented system and continuously engages in innovative activities with outstanding results. The Hall of Fame is an honorable recognition because there have been only 15 companies in the Hall of Fame among companies that have received the grand prize for five consecutive years.

Hanwha Life's efforts have been recognized for eight consecutive years since 2010 through the Grand Prize and this year they entered the Hall of Fame of Korea Services Grand Prix.

Meanwhile, Hanwha Life was selected as an outstanding company for sponsoring culture and arts at the 2017 Korea Mecenat Awards, certified by the Ministry of Culture, Sports and Tourism. Hanwha Life has sponsored various performances and contributed to the development of Korea's culture and arts. They were highly recognized for trying to communicate with customers by actively carrying out social contribution programs through the Hanwha Youth Orchestra and Hanwha Arts Plus.

Hanwha Life will continue to offer activities that improve the quality of customers' lives and meet customer values through developing differentiated services and establishing a management system based on global standards.

4. [Hanwha Land Systems] Held Ceremony Celebrating the First Shipment of K-9 Self-propelled Howitzers to India

Hanwha Land Systems signed a contract with India to sell 100 improved versions of the K9 self-propelled howitzer named Vajra. The contract is worth about 370 billion won. This contract is more meaningful because it is the first export deal for a Korean defense company to India, one of the largest weapon-importing countries in the world.

The ceremony to celebrate the first shipment of the K-9 self-propelled howitzer to India was held. The production progress and appreciation plaques to government bodies and partner companies, and achievement awards to employees were presented.

Through this contract, Hanwha Land Systems is going to ship out 10 K-9s, and most of the 90 major parts for the howitzers are going to be shipped by January of 2020. Through this deal, the company will be able to expand their business in neighboring countries, such as Egypt and the UAE.

Headlines for December 2017

1. [Hanwha Group] Delivered Gifts to Employees' Children Taking College Scholastic Ability Test

Chairman Kim Seung Youn gave gifts to a total of 4,013 students, including Bugil Academy students, children of Hanwha Life Insurance FPs and Hanwha employees, and cheered them on for the challenge that they were undertaking. He reminded the students that this test was one of the most important challenges they will have, and he encouraged them to remember that this accomplishment will be meaningful and can lead to success in the future.

Since 2004, Chairman Kim has been giving gifts to those taking the College Scholastic Ability Test (CSAT), and this has been one of the company's greatest demonstrations of support for many Hanwha families. Chairman Kim said that every Hanwha member will pray for those who are taking the test and for their successful results, and he reminded them, ‘Steel that endures hundreds of tempering can become a great sword'.

We hope that children of Hanwha family members and Bugil Academy students who received these gifts achieve good results on the test, and we cheer them on as they begin this new journey into the wider world.

2. [Hanwha Group] PyeongChang 2018 Olympic Torch Relay

'Let Everyone Shine,' the flame for the Olympic Winter Games PyeongChang 2018 was finally lit in Greece on October 24th. The flame which was lit with the sun's rays at the Temple of Hera in the Peloponnese traveled around Greece for eight days as a symbol of the Olympic Spirit.

With a grand welcoming event, the Olympic torch, which returned to Korea 30 years after the 1988 Seoul Summer Olympics, began its 101-day 2,018km-long journey. The torch will be carried by 7,500 torch bearers and it will travel across 17 cities and province before it is scheduled to arrive in PyeongChang on February 9th.

Meanwhile, Hanwha made a total of 9,640 torches. These torches were designed to withstand severe winter weather and protect the flame for over 15 minutes, even in gale-force winds and blizzard conditions. A golden flame-shaped badge on the top of the torch expresses the slogan of the PyeongChang Olympic Games: 'Passion Connected'. The bottom cover is even more meaningful because it was made with melted steel from the barbed wire fence along the DMZ.

Hanwha is going to escalate the energy of the Olympic Games until the runners light the final torch at the opening ceremonies. We hope that the unextinguished flame created by Hanwha's passion promotes the opening of the Olympic Games to the world and lights up the event even more radiantly.

3. [Hanwha Q CELLS] Held Energy Forum 2017 with GGGI

Hanwha Q CELLS held an Energy Forum on November 23rd at THE PLAZA hotel with GGGI, the only UN-registered energy organization in Korea.

The 2017 GGGI Energy Forum was themed, 'Building a sustainable world by promoting new renewable energy'. Participants in the forum had an opportunity to share each country’s energy policy and their future direction.

Those who participated in the forum agreed with the fact that the energy conversion trend is progressing quickly and the cost of new renewable energy is decreasing. They all forecast that new renewable energy is going to be a solution in the near future for many environmental problems, including climate changes and air pollution, two problems which the entire world is currently facing.

Moreover, Hans-Josef Fell, a president of Energy Watch Group, and a former member of the Green Party in Germany argued that the world must undertake the new renewable energy conversion activities in order to handle environmental problems effectively. He also said that it is possible to make electricity with 100% new renewable energy. He shared his opinion on the conversion to the new renewable energy in Korea and experiences that he had while establishing the New Renewable Energy Act (EGG, Erneuerbare-Energien-Gesetz) in Germany.

Hanwha Q CELLS anticipates that this GGGI Energy Forum will build a foundation for the rapid expansion of new renewable energy industry in Korea.

4. [Hanwha Asset Management] Established AI Alliance Fund

Hanwha Asset Management established the 'AI Alliance Fund' with Hyundai Motor Group and SK Telecom to invest in global start-ups with creative ideas and innovative technologies. This fund is drawing a lot of attention because it can help discover new growth engines for future business.

With their accumulated investment expertise and 92 trillion won in assets, Hanwha Asset Management has been searching for new investment opportunities that exhibit strong potential. Through the establishment of this fund, the company is going to combine the technologies of Hyundai Motor Group and SK Telecom and an artificial intelligence technology, Element AI. And they are going to invest in promising smart mobility and FinTech start-ups around the world especially in the U.S. and Europe.

Meanwhile, each of three companies is going to inject $15 million, a total of $45 million, into the AI Alliance Fund, to be launched in the first quarter of next year. The fund will not only yield a basic return for the investment but is also going to strengthen competence for the next generation of technology from a future strategic perspective as the fund searches for information on new technology, analyze global technology trends, and explore cooperative networks.

We look forward to seeing Hanwha Asset Management explore a new business model with future innovative technologies based on global investments in promising start-ups.

5. [Hanwha Hotels & Resorts] THE PLAZA Receievd Five-Star Rating

Korea has used a different hotel rating system for 40 years. In order to meet the fast-growing demands of foreign visitors, the hotel rating system has been changed to the globally-used star rating system. THE PLAZA, Korea’s premier boutique hotel, received a five-star rating, the highest rating from the Korea Tourism Organization for the first hotel among hotels owned by Hanwha.

The star rating evaluation system has been adopted by the Korea Tourism Organization. The highest rating, five stars, represents the earning of over 900 points out of 1,000 points, 700 points from the a field evavluation, and 300 points from an undercover evaluation.

THE PLAZA hotel has a sensitive interior design called 'Stay in Style' that fits the brand identity. And by calling the hotel’s concierge team "designers", the hotel strives to provide a perfect day to every guest by customizing the amenities for every guest visiting the hotel. The concierge team used to serve only guests who booked a hotel room, but now concierge service has been extended to guests visiting the convention center and restaurants as well.

We congratulate the employees of THE PLAZA who strive to provide services that exceed their guests' expectations, and we hope to see them continue to play important roles as private diplomats for their many guests from around the world.

6. [Hanwha Group] Received Grand Prize in Radio Commercial Category at 2017 Korea Advertising Awards

Hanwha continues to cultivate its culture by sensitively communicating the company’s values to customers through using various mediums.

The Group is communicating with the public through the keyword 'flame'. The message of the 'flame' campaign was delivered to consumers from the consumers'point of view and it was interesting and easy to understand. These points were highly recognized and had the honor of receiving the grand prize at the 2017 Korea Advertising Awards, the most prestigious advertising award in Korea.

This radio advertising campaign began in March to create synergy with last year's TV commercial, 'I am the flame', and it received a lot of love from listeners who found they could identify with the theme.

The power of 'flame' did not end there. Hanwha's social media brand called has been a successful means of communicating with on-line users the meaning of the flame deep in our hearts. It received the excellent award in the on-line PR category at the Korea PR Awards, and the grand prize, an award from the Minister of Science and ICT at the 2017 Korea Internet Communication Awards.

We look forward to seeing Hanwha provide a place for communication where people can ponder the small pleasures in daily life that are so often forgotten.

Headlines for November 2017

1. [Hanwha Group] Chairman's Message Commemorating Hanwha Group's 65th Anniversary

This year Hanwha Group celebrated the 65th anniversary of its foundation. In his speech at the foundation day celebration, Chairman Seung Youn Kim said that the last 65 years have been a time of both challenge and innovation that "we found a way through, when confronted by mountains, and bridged to the other side, when blocked by a river." And he also said that the legacy we have created is the fruit borne of the collective efforts of our companies and employees worldwide.

He emphasized that we must not stop at simply finding new opportunities but move on to generating creative values, cultivating the kind of start-up DNA that drives new enterprises with enthusiasm that would also fit a young Hanwha image.

He asked that we must respond to it in earnest by breaking away from the old paradigm and changing our mindset in order to pivot in a completely new direction and embrace the new era.

Moreover, he said that we must continue extending this sincerity to our customers, the society, and the nation as we have done over the past 65 years. Because the philosophy of trust has indeed served as the foundation of Hanwha's philosophy of serving the country through business, it will help us as we aspire to become a truly world-class enterprise.

He concluded his 65th foundation year speech with a message that Hanwha members should continue to lead the changing world with a burning passion in our hearts.
 
2. [Hanwha Group] Chairman Kim Visited Hanwha Corporation R&D Center and Q CELLS Jincheon Plant

Ten days prior to the foundation day ceremony, Chairman Seung Youn Kim made surprise visits to the Hanwha Corporation R&D Center and Hanwha Q CELLS Jincheon Plant.

Chairman Seung Youn Kim visited the Hanwha Corporation R&D center in Daejeon, which was completed last July. Since the defense industry is a promising industry, Chairman Kim asked the researchers to work with firm determination so that the R&D center can increase its global competitiveness through self-reliant technologies and become the number one in the industry, playing a central role in national defense.

His next visit was to the Hanwha Q CELLS Jincheon plant, located in Chungbuk province. The Chairman said that the company should make itself an exemplary case of win-win growth and job creation through the successful completion of its factory expansion.

When the expansion of Hanwha Q CELLS Jincheon plant will be completed in January 2018, the existing production capacity will increase from 2.2GW to 3.7GW, and a module production line of 1.4GW will be added.

Moreover, we expect that the nearly 600 billion won investment in this factory expansion will create about 600 more jobs and contribute significantly to the vitalization of the local economy.

Chairman Kim's surprise visits prior to the foundation day celebration delivered pride and confidence to employees. We hope to see all Hanwha members contribute to making Hanwha number 1 a reality with sense of commitment.
 
3. [Hanwha Group] 2017 Seoul International Fireworks Festival with Hanwha

The 2017 Seoul International Fireworks Festival with Hanwha, a main autumn evening event, successfully finished its 15th event.

Just one day a year! On September 30th, an enormous number of people filled the Yeoido Hangang Park to watch the 2017 Seoul International Fireworks Festival with Hanwha light up the Seoul skyline.

About a million spectators visited this annual festival again to make an unforgettable memory with their family, friends, and loved ones. This year's festival offered many things to see and do, and many people waited in long lines to find the best viewing spots. Three countries, Korea, the U.S., and Italy, participated in this year's festival with the theme, "One glimpse of a fantastic world amid the hectic daily lives". The displays told a number of stories with colorful and unique fireworks. It would have been wonderful if more people could enjoy it at the river, but those who could not come to Yeoido were able to watch the fireworks live on Naver TV.

The production theme of this year's fireworks was VIVID. Like the word's definition, the pyrotechnics teams displayed energetic and dynamic fireworks that were full of life and color.

For a safe trip back home, a volunteer team of 700 Hanwha employees cleaned up the area where the festival was held.

Hanwha Group cheers for everyone's future with the Seoul International Fireworks Festival, which handed comfort filled with dreams to those who are exhausted from their hectic daily lives.
 
4. [Hanwha Group] Participated in The Largest International Defense Exhibition in The U.S.

The Group displayed actual weapon systems made with our own technology for the first time in history at the International Defense Exhibition in Washington D.C., the largest defense market. Prior to the opening of the exhibition, Group officials visited the Korean War Veterans Memorial to offer flowers and commemorate those who sacrificed their lives.

The 2017 AUSA Annual Meeting & Exposition is hosted by the Association of the United States Army, and it is the largest global defense exhibition for the procurement sector of the U.S. defense industry. 600 major defense companies from countries around the world including the U.S., Germany, the U.K., and Israel, participated in the exhibition.

Hanwha's defense affiliates sent 60 people, a large number, including CEOs from each defense affiliate. Together they opened one booth for Hanwha and displayed an actual K9 self-propelled artillery unit and a Hybrid BIHO, a gun and missile air defense system, to begin a global marketing campaign targeting the U.S. and Central and South American defense markets.

The Hanwha Group that displayed real weapon systems weighing tens of tons in the heart of the U.S. for the first time in Korean history now plans to go beyond the goal of becoming the number one defense company in Korea by targeting the global market.

5. [Hanwha Group] Sponsored 2017 Chungcheong Marathon

Beyond offering a sense of accomplishment at the finish line, a race is more special when all family members can participate. The 2017 Chungcheong Marathon was held on October 21st. In the early hours of October 21st, Sejong Lake park, where the cool air harmonized with open views, was full of Hanwha members, their families and people from the Chungcheong area and every part of Korea. This year's event, Kim Shin-youn, CEO of Hanwha Eagles, the Sejong city mayor, and local government officials attended the opening ceremony to show their support.

This year's event was comprised of full and half marathons, and 10K and 5K courses so that everyone from professional marathoners to members of the Hanwha employees marathon club and ordinary citizens could participate.

The marathon event was not just a record competition, but it was also a festival that harmonized members of different age groups. The 2017 Chungcheong Marathon with Hanwha is finished now. But we hope to see Hanwha take on more challenges with passion and we hope to see the event grow as Hanwha communicates more with local people.
 
6. [Hanwha Group] Held Hanwha Global Communications Workshop 2017

Hanwha Global Newsletter correspondents from each affiliate who are trying to spread Hanwha's organizational culture in the world assembled in one place again this year. The Group organized the 2017 Hanwha Global Communication Workshop so that these correspondents could meet with other reporters in Korea.

20 Hanwha Global Newsletter correspondents who are working for nine companies and 21 overseas affiliates, including Hanwha Corporation, Q CELLS, Techwin, Life Insurance in nine other countries, attended the event along with 14 reporters from the headquarters in Korea.

First, they had an opportunity to learn about Hanwha through training sessions on Hanwha's history, core values, and brand management. They were able to understand each affiliate's main businesses as each correspondent introduced their own company. They also had a chance to improve their correspondent skills with training in areas such as news script writing and video editing.

Choi Sun-mok, the head of the Group's communication team, said at the conference that this would be a great opportunity to learn about Hanwha's history and major businesses and to better understand Korea as well. He also hoped that this gathering served as a meaningful time to strengthen the internal communication of global Hanwha.

As Hanwha becomes a global company, vibrant communication with employees overseas becomes more important. We hope all Hanwha members in the world have pride and sense of belonging through our communication channel, the Hanwha Global Newsletter. And we hope everyone here becomes representatives of the Hanwha culture, which will be the foundation of our global competences.

Headlines for October 2017

1. [Hanwha Group] Held the Hanwha Classic 2017 concert

Hanwha Group has tried to spread the beauty of classical music by holding a performance that everyone can easily enjoy. This performance is the Hanwha Classic, which visits us every autumn. Hanwha Classic 2017 returned this year with baroque music, which we can enjoy with all five senses.

The Hanwha Classic 2017 concert, an opportunity to encounter classical musicians of the highest caliber was hosted by the Group on September 23rd at the Seoul Arts Center and on the 24th at the Daejeon Arts Center. Since 2013, the Hanwha Classic has introduced ‘the best performances’, as recognized by the classical music industry every year. This year Hanwha Classic invited world-renowned conductor William Christie and his ensemble, Les Arts Florissant, and they presented two baroque operas heard in Asia for the first time.

To introduce an opera, which is a composite art form of classical music, Hanwha Classic 2017 carefully selected performers from among the best in the world. In the interest of social responsibility as related to arts and culture, the scale of the performance increased while ticket prices significantly decreased in order to invite more audience. Thanks to the special narrations before the concert, many newcomers to classical music were able to enjoy this year’s performance even more.

The Group is planning to hold more diverse and elegant classical concerts to lead Korea’s performance culture so that more people can enjoy classical music and also to satisfy the audiences who have been continuously supporting the events.

2. [Hanwha Q CELLS] Participated in the largest Solar Power International exhibition in the U.S.

Hanwha Q CELLS, which in 2016 became the number one solar cell manufacturer in the world, participated in the largest solar exhibition in the U.S., Solar Power International (SPI), held in Las Vegas from September 11th to 13th. Q CELLS targeted the American market as they introduced their newest products at the show.

The Solar Power International (SPI) is the largest solar exhibition in North America, with 50,000 visitors and about 600 companies from 75 countries. Hanwha Q CELLS set up the largest booth at the exhibition and welcomed the visitors from around the world.

Hanwha Q CELLS attracted a lot of visitors by unveiling the Q. PEAK DUO Series, which is a Q.ANTUM-based solar module with Half-Cell technology. The Q.PEAK DUO Series is a high output module that can reach up to 395Wp with a maximum 20% increase of output compared to the previous modules.

Moreover, Q CELLS also displayed an All-Black module, which has a cosmetic advantage, and a Q.HOME, which is an ESS solution for the residential applications targeting the American housing market in particular. The Q.HOME is composed of a solar module, an inverter, a battery, and a backup box.

Additionally, in order to emphasize Hanwha Q CELLS’ global R&D competencies, they displayed the steel frame module that received three technology innovation awards in early 2017.

The exhibition served as an opportunity to imprint Q CELL’s image as the global number one solar energy company on the US market.

3. [Hanwha Group] Held the ‘Hanwha Classic 2017’, a major KLPGA tournament

The Hanwha Classic 2017, which was promoted to a major KLPGA tournament this year, was held from August 31st to September 3rd at the Jade Palace Golf Club. Top-ranking players from Korea, Japan, and the U.S. competed for the highest prize money of the KLPGA Tour.

The Hanwha Classic was recognized for contributing to the development of professional women’s golf, and was promoted to a major tournament. To reflect this meaningful promotion, starting this year the tournament was held under the new name. As it proves to be the largest tournament in Korea, the Hanwha Classic was literally a war of stars since the outstanding courses attracted the world’s top-ranking players.

The total purse was 1.4 billion won, 200 million won more than last year, and the winner’s share was 350 million won. Since the prize money was the largest ever in the history of KLPGA, the tournament received a lot of attention before it even began.

Meanwhile, a pro-am event was held on September 28th prior to the start of the main tournament. Chairman Kim Seung-youn personally visited the event and encouraged players and participants.

The Group has been trying to develop Korean golf events by continuous support. The event began as the Hanwha Cup Seoul Women’s Open in 2009, it was once called the Hanwha Financial Classic, and now it has been reborn as the Hanwha Classic. Hanwha plans to develop Hanwha Classic as a major golf tournament on a global scale that serves as a gateway to the world for Korean golf players.

4. [Hanwha Techwin/Aerospace & Defense Business Group] Held groundbreaking ceremony for HAE, a subsidiary company in Vietnam

Hanwha Techwin Aerospace & Defense Business Group held a groundbreaking ceremony for HAE, a Vietnamese subsidiary company in Hoa Lac Hi-Tech Park located near Hanoi in Vietnam. About 120 people, including Shin Hyun-woo, CEO of Hanwha Techwin Aerospace & Defense Business Group, the minister of Science & Technology in Vietnam, and an ambassador to Vietnam attended the ceremony.

They agreed on the safe construction of HAE and held a groundbreaking ceremony for a new aircraft engine part manufacturing plant 60,000m2 in size, eight times of a football field, and offered a prayer for construction safety.

Hanwha Techwin believes that their production capacity is going to increase through the building of this overseas aircraft engine parts production plant. Through more aggressive sales efforts, they plan to expand their revenues from commercial aircraft engine parts to about one trillion won by 2025, which would make them number one in the world in the industry.

The construction began this September, and installation of equipment and pilot productions are scheduled for the end of 2018. The company has set January 2019 as the target for beginning of a full-scale production.

We hope that Hanwha Techwin Aerospace & Defense Business Group takes this opportunity to become a global top-tier manufacturer in the aircraft engine part industry.

5. [Hanwha Group] Received 2017 Annual Report Competition Award in brochure category

A Hanwha Group brochure that introduces the Group’s vision and strategies received a bronze prize in the brochure category at the ASTRID Awards in April 2017. The same brochure was selected as an award recipient in the same category at the 2017 Annual Report Competition (ARC) Awards. Hanwha Group’s brochure received an ‘Honors’ prize in the company profile category and a ‘Bronze’ prize for interior design.

The ARC Awards, which was founded in 1987, does not depend on corporate commercials and sponsorships. And it is the world’s most prestigious competition supervised by Mercomm, the only independent award organization in the world. About 2,000 candidates from 70 countries were submitted and went through fierce competition this year.

The Group’s brochure, which was updated in 2016, emphasized the presentation of Hanwha’s improved status by focusing on business strategies with content based on changes in the Group’s business portfolio in the global market. The creativity and uniqueness of the design that expressed this purpose was recognized, and it received Honors in the company profile category and a Bronze prize for its interior design.

Through the Group’s brochure, which now has been recognized globally, we look forward to delivering Hanwha’s trusted image to investors and customers in Korea as well as in the world.

Headlines for September 2017

1. [Hanwha Group] Transferred temporary employees to permanent status

In 2013, Hanwha Group voluntarily transferred 2,040 temporary employees to permanent status, a move which Hanwha made first among the 10 largest companies in Korea. This year, the Group decided to faithfully fulfill the company’s social and economic responsibilities and embrace the win-win philosophy of ‘Going Further Together’ by transferring 850 more temporary employees to permanent status.

The group has announced that they are going to transfer 850 temporary employees who are working on a constant and continuous base job to permanent status by the first half of next year. They plan to reduce the number of temporary workers who work in those same positions by hiring permanent employees from now on, or interns who can also be moved to permanent status later.

Through this transfer, the employees are not only guaranteed employment but also they can enjoy the same benefits, retirement options, and promotion opportunities as other permanent workers.

To employees, we hope that stable employment will increase their loyalty and increase their sense of belonging and motivation. And to the affiliates, we hope that they grow with their employees as they provide new levels of services and improve their productivity through this.

2. [Hanwha Corporation] Received the 2017 First and Best Company Award from Korean Academic Society of Business Administration

We would like to share the good news that Hanwha is being recognized in Korea as well as outside of Korea. Hanwha Corporation, the parent company of Hanwha Group, was honored to receive the 2017 First and Best Company Award from the Korean Academic Society of Business Administration (KASBA).

At the 19th Business Integration Conference held in Gwangju, Lee Tae Jong, CEO of Hanwha Corporation Defense Division, the chair person of Korean Academic Society of Business Administration, the chairman of Maeil Business Newspaper, professors from 36 business societies throughout the nation, and other business people attended.

At the conference, Lee Tae-jong, CEO of Hanwha Corporation Defense Division, accepted the 2017 First and Best Company Award from Korean Academic Society of Business Administration (KASBA).

The KASBA First and Best Company Award is a meaningful award because it is given to a company that is selected by business scholars for having the highest value among Korean companies.

The CEO Lee said in his remarks that the core competitivenesses of Hanwha Group comes from the company’s founding idea, ‘Serving The Country through Business,’ the business management philosophy, ‘Trust and Loyalty’, and the dynamic growth history of M&A, which has been focused on Korea’s key industries. He also said that Hanwha always took one step ahead of other companies in making bold investments and has opened bigger opportunities by overcoming crises with an unwavering momentum.

3. [Hanwha Group] Held 2017 Hanwha Science Challenge main event

Finally, the long-waited main event of 2017, the Hanwha Science Challenge, was held. The competition brought together many creative ideas and passion of talented science students.

The main event of 2017 Hanwha Science Challenge was held from August 24th to 25th at the Hanwha HRD Center. The event was hosted by the Group and sponsored by the Ministry of Education, the Ministry of Science and ICT, and the Korea Foundation for the Advancement of Science & Creativity.

This year’s participation rate was high, and a total of 1,218 students from 609 teams signed up.

At the main event, the 20 teams presented their studies, which had been prepared freely and creatively for six months on topics closely related to human life, such as energy, bio research, and climate change.

The grand prize went to Yoo Ho-jin and Huh Seong-bum, a Magic Point team, from the Korea Science Academy of KAIST. They researched effective wave-power generation. And their project title was, ’Innovative methods of wave-power generation using mechanical design’. They came up with an idea to improve the efficiency of wave power generation by inventing unidirectional teeth called the ‘Magic Wheel,’ which is not affected by the movement and speed of waves. The judges admired them because they also proposed a way to apply their idea.

The grand prize winning team was given a 40 million won scholarship, and a 20 million and 10 million won scholarship was given to two gold and silver prize winners, respectively.

The Group plans to continue encouraging, through sponsorship, these talented students to dream about winning a Nobel Prize and to develop ideas with creativity and practicality so that later they can become leaders in science in Korea.

4. [Hanwha Corporation/Machinery] Asan Plant #1 held a ceremony for achieving the longest period of time without a lost-time accident among plants of the affiliates

Not having a lost-time accident for 10 years and 8 months is very difficult to achieve. Asan plant#1 of the Hanwha Corporation Machinery Division achieved the highest record among the plants of the affiliates. They were able to accomplish this achievement by following the strict safety environment guidelines vigorously under the vision, ‘Safety, Environment, A Leader of Health’. Hanwha Corporation Machinery Division Asan plant #1 held a ceremony to celebrate this achievement. They also received a certification plaque from the Korea Occupational Safety Health Agency.

This accomplishment was a result of the company putting safety first, running routine trainings for every possible dangerous scenario, and expecting all employees to follow basic safety guidelines.

Lee Eun-kwang, the plant general manager of Asan plant #1, said in his remarks that having no accidents for 10 years and 8 months results from all employees actively trying to follow the safety guideline with one mind without exceptions. He also said that the company is going to lead by example in creating a safe environment, and they will continue to avoid accidents.

Hanwha Corporation Machinery Division will continue to build its safety culture by putting safety first.

5. [Hanwha Defense Systems] Will develop a high-energy laser with Gwangju Institute of Science and Technology

In July, Hanwha Defense established a team to develop laser technology for national defense. The team is actively involved in co-development and marketing activities with other Hanwha defense affiliates. On August 24th, the company began developing a high-energy laser with the Gwangju Institute of Science and Technology.

Hanwha Defense and the Gwangju Institute of Science and Technology signed an MOU for cooperation and to vitalize a research interchange for optical and high-energy laser technology. Hanwha Defense agreed to invest over five billion won over the next four years to secure this core laser technology.

High-energy fiber optic laser technology is a technology that generates kw-level intensive light and energy from a thread of ten-micrometer-thick fiberglass. Since it can be miniaturized because of its high energy conversion efficiency, it is a suitable technology for a laser weapon and is considered the core optic technology for the future defense industry.

Hanwha Defense has participated in developing various high-energy development projects in the defense industry for 20 years. Through this partnership, they set up a research center in the Advanced Photonics Research Institute, which is a research center attached to the Gwangju Institute of Science Technology. Through this research center, Hanwha Defense is going to consolidate their research efforts in the laser field, which have, up to this point, been spread out. They will also cooperate in developing technology and creating a stronger foundation for the industry as a whole.