2021 New Year's Message

Dear Hanwha Family,

It's the start of a New Year, and for me this is a moment for both reflection and – most importantly – gratitude. I want to say “thank you” to all of you for your hard work, which has kept our business growing in the face of the COVID-19 pandemic.

2020 was a most unusual year. Amid lockdowns and quarantines, our world seemingly became smaller. Daily sufferings, and even more struggles echoed around the world, just a headline away. And the Hanwha Family was no exception. All too often we had to stop, pause, and reflect on the pain suffered by so many of us during this pandemic. And that's why this year has to begin with a reset – a moment where we shake off our physical and mental fatigue by coming together and encouraging each other.

In order to find success in a time of disconnection and isolation, we will need to challenge ourselves to transcend the limitations and boundaries of this new period. But together we can address and overcome these challenges, and we can take heart from our history. Hanwha's past is full of triumphs: the moments we overcame challenges – some small, some seemingly insurmountable – but we’ve always found our way by taking “the Hanwha Path.” For the past 68 years we have walked this path together; I know that it will also take us through 2021, and beyond.

The next two or three years will be full of uncertainty. Our industries and our whole world will keep changing. As responsible members of society, we at Hanwha must lead and demonstrate how we can overcome these crises through a new paradigm of sustainable management. And we have to deliver – without delay – on our vision for a future where Hanwha not only coexists with society, but helps it to take a leap forward.

To achieve this, we first have to further secure our company's future growth engines, and expand our business capacity and leadership on the global stage.

Our businesses – including defense and energy – have continued to grow throughout the year, despite the tribulations we faced all around us. Worldwide, our businesses are already ambassadors for Korean innovation. And yet, to become true global leaders in defense, energy and finance, we will have to increase the pace of our innovations even further. We also need to seize future growth opportunities in new business areas such as future mobility, aerospace, green hydrogen energy and digital finance.

We need to expand our sustainable management efforts, which offer tremendous socioeconomic value, to a global level.

Many global companies have set Environmental, Social, and Governance (ESG) standards for their operations as part of their corporate behavior. We need to strengthen our own ESG efforts, through better compliance and by implementing strategies that enhance the sustainability of our own business activities. And as a global leader in renewable energy, we have to proactively tackle climate change and lead the environmental efforts that will take us into a zero-carbon era.

Although we are apart, living in a world where few of us are allowed to meet face-to-face, we must continue to uphold our philosophy of “going further together.”

Lockdowns and social distancing rules have dramatically accelerated digital transformation, but it has come at a price: communication is often superficial, and many people feel emotionally isolated. I urge you all too look after one another, cherish the relationships that make Hanwha great, and build on our shared-growth philosophy of “going further together.” That's how we will succeed, and that's how we will fulfill our corporate responsibility. Yes, our world has transitioned to smarter working environments and digital transformation has reached every part of the business. However, they will only work if we fill them with life and adopt a new work culture that really brings us all together.

Dear Hanwha Family,

No matter what crisis we face, if we continue to take the Hanwha Path together, we are bound to discover new and exciting opportunities. The COVID-19 pandemic is not over. And yet, I believe that we at Hanwha will face and overcome the challenges ahead – just as we always have: journeying together, on a path of hope.

I wish each and every member of the Hanwha Family a happy and – most importantly – a healthy New Year.

Thank you, and all the best

January 4, 2021

Seung Youn Kim
Chairman
Hanwha Group