Headlines for February 2019
1. [Hanwha Group] Participated in World Economic Forum Annual Meeting 2019
The Group has participated in the World Economic Forum in Davos for 10 years starting in 2010 and has searched for the direction of change to become an 'Infinite Enterprise' that will prevail in the future. Participants took part in the main sessions and discussions of the Davos Forum on the subject of the "Fourth Industrial Revolution" and were concerned with the direction of changes in the global economic structure.
At the World Economic Forum held in Davos, Switzerland, Kim Dong-kwan, Chief Commercial Officer of Hanwha Q. CELLS, Kim Dong-won, Head of Fintech & Innovation Center of Hanwha Life Insurance, Shin Hyun-woo, CEO of Hanwha Aerospace, and CEO Kim Yong-hyun of Hanwha Asset Management participated in the forum. They were active in exchange and cooperation in over 50 business meetings with the global leaders.
The group also tried to promote the 'Hanwha' and 'Korea' as a brand around Davos during the World Economic Forum.
Through the World Economic Forum, the Group focused on finding ways to move its global business capabilities into an 'Infinite Enterprise' during a period of revolutionary change. As a result, we will support the Group to take the lead in the future in an uncertain global management environment.
2. [Hanwha Defense] Was newly launched by integration of Defense affiliates (Hanwha Land Systems, Hanwha Defense)
The Group’s defense affiliates, Hanwha Land Systems and Hanwha Defense merged and began as a new company ‘Hanwha Defense’. As a result, Hanwha Group’s defense affiliates have been restructured as Hanwha Corporation, Hanwha Aerospace, Hanwha Systems and Hanwha Defense. Hanwha Defense held an unveiling ceremony for 'Integrated CI' aiming to achieve '4 trillion won in sales in 2025 and reach 20th place in global defense companies' ranking.
Through this integration, the company is able to raise their global competitiveness by realizing economies of scale by increasing assets and sales, and expect positive effects in terms of management efficiency and cost reduction.
Hanwha Defense plans to concentrate its core competencies on global competitiveness by actively participating in large-scale global projects. We will support Hanwha Defense, which will continue to grow in the global market by securing product competitiveness from existing weapon systems to future weapons systems.
3. [Hanwha Q CELLS] Ranked 1st in German solar module market share
Germany has secured high economic efficiency with renewable energy compared to coal and gas, and there is a constant demand for high efficiency products mainly in the residential and commercial markets. Hanwha Q. CELLS has achieved the top position in the German market by producing high-efficiency premium solar modules based on Q.ANTUM technology, which improves the output and long-term stability of photo-voltaic products.
Hanwha Q Cells launched Q HOME, a total energy solution for households, which combines all the necessary functions for the home from energy production to storage and management, and Q FLAT, a commercial solar installation solution, to provide customers with a high level of convenience.
In addition, Hanwha Q CELLS expanded its sales network with Q.PARTNER, a specialized partner program, and became a familiar brand to European consumers through marketing at sports events.
Based on the unrivaled technology and the product competitiveness, we are looking forward to Hanwha Q CELLS leading in the domestic market as well as the world market.
4. [Hanwha Total Petrochemical] Invests and expands its Daesan plant, and selected as the safest workplace
Hanwha Total strengthened its core business competitiveness through large-scale investment. The total investment amount is 530 billion won and it is expected to grow in the chemical business market in the future.
Hanwha Total plans to expand the annual production capacity of the Daesan Plant to 400,000 tons of polypropylene, 150,000 tons of ethylene and 40,000 tons of propylene per year. And the expansion construction will proceed with the goal of completion by the end of the year 2020.
First, when the polypropylene plant is completed with an investment of 380 billion won, the annual production capacity of polypropylene will increase to 1.12million tons, which will be ranked number one in the domestic market.
Polypropylene is a plastic material widely used in electric and electronic materials, automobile interior and exterior materials, film and packaging materials, and Hanwha Total will continue to grow in the global market.
Hanwha Total expects that this expansion will maximize the production and operation efficiency of the plant by expanding the production balance and facilities of the Daesan plant as a whole.