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Hanwha at a Glance

Hanwha History

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It would be difficult to start talking about Hanwha without mentioning trust and loyalty.

These values have been at the core of Hanwha since its founding in 1952, and have guided the company through decades of growth and diversification. In addition, Hanwha’s emphasis on teamwork and precision has created a unique culture that directly contributed to the company’s expansion into a number of strategic sectors and regions. Through the most challenging times and most celebrated ones, the people of Hanwha have remained loyal and steadfast.

  • Restoring a Nation’s Economy
    : 1 9 5 2 – 1 9 6 3

    After World War II, much of South Korea’s infrastructure was in ruins. In 1952, Korea Explosives Co. (presently Hanwha Corporation) was established to help the economic growth of the nation as explosives would be instrumental in the country’s rebuilding effort.

  • Modernization of a Nation
    : 1 9 6 4 – 1 9 8 0

    As the nation’s economy grew, so did Hanwha. Our success came from aggressive and strategic investments in key industries that could accelerate the modernization of our nation. In the 1960s, Hanwha began expanding into major industries, including chemicals and materials, machinery, energy, and finance.

  • Strategic Diversification
    : 1 9 8 1 – 1 9 9 5

    Led by Chairman Seung Youn Kim, Hanwha continued to diversify its business portfolio through a number of strategic acquisitions. Chairman Kim established a solid foundation for the company’s chemical business by acquiring Hanyang Chemical and Dow Chemical Korea. Through the acquisition of Junga Group (presently Hanwha Hotels & Resorts), Hanwha became South Korea’s leading leisure group. By acquiring Hanyang Stores (presently Hanwha Galleria), the company grew its network of retail businesses.

  • Restructuring for the New Century
    : 1 9 9 6 – 2 0 0 6

    The Asian Financial Crisis of 1997 hit South Korea hard—companies failed and unemployment reached an all-time high. Unlike many other companies, Hanwha overcame these challenges through radical innovation and company restructuring. The experience prompted Hanwha to take another big step: acquiring Korea Life Insurance in 2002, which has grown steadily to become the second largest life insurance carrier in South Korea, with assets of USD 102 billion in 2018.

  • Emerging as a Global Leader
    : 2 0 0 7 – P R E S E N T

    Hanwha has become a Fortune Global 500 company, leading internationally in a broad range of market sectors. Our aggressive investments in our primary industries (aerospace, mechatronics, chemical, solar energy, and finance) are laying the foundation for sustainable development. We are strengthening our global competitiveness by securing preemptive technologies and readying ourselves for the fourth industrial revolution and a brighter future for individuals, corporations, and communities around the world.

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