Headlines for January 2019
1. [Hanwha Group] Chairman Seung Youn Kim Visited Vietnam
On December 6th, Chairman Seung Youn Kim attended the ceremony for the completion of the Hanwha Aerospace Aircraft Engine Parts Plant at Hòa Lạc Hi-Tech Park in Hanoi, Vietnam.
The ceremony was attended by more than 300 officials, including Chairman Seung Youn Kim, Vice-Chairman Geum Choon-soo, Hanwha Aerospace CEO Shin Hyun-woo, Head of Fintech & Innovation Center of Hanwha Life Insurance Kim Dong-won, First Deputy Prime Minister of Vietnam Truong Hoa Binh, Chairman of the Central Economic Committee of Vietnam Nguyen Van Binh, and Science and Technology Minister of Vietnam Chu Ngoc Anh.
The new Hanwha Aerospace plant is about 100,000 square meters, making it the first large-scale aerospace component factory in Vietnam. The Group says by 2022 it will invest 4 trillion won in overseas advancement of aircraft parts and defense industries. Based on this, they plan to actively promote the aviation engine business of Hanwha Aerospace in the future.
Chairman's visit to Vietnam has strengthened our relationship as a global partner and helped local executives and employees morale. We look forward to seeing Hanwha rise in Korea and around the world.
2. [Hanwha Group] Hanwha Founder Chong-Hee Kim Honored with Korean Academic Society of Business Administration CEO Grand Prix
Chong-Hee Kim, the founder of Hanhwa Group, has devoted his entire life to the national community. Based on the founding principle of "Serving The Country Through The Business", he achieved domestic production of gunpowder. Chairman Kim was inducted into the Korea Entrepreneurship Hall of Fame in recognition of his unwavering commitment to the Republic of Korea's economy.
Hanwha founder Chong-Hee Kim, who participated in the post-war rehabilitation and economic development of Korea, started the Hanwha Group manufacturing business with a view to contribute to society and the nation through business. The experience and capabilities accumulated by this project would provide a foundation for the Group to move away from the manufacturing industry and become a global company in areas such as energy, high-end petroleum chemistry, finance, and leisure.
We look forward to Hanwha's future to preserve the precious values of Chairman Kim with the passion of executives and employees and continue to grow with the nation, society, and our neighbors.
3. [Hanwha Group] Introduction of Hanwha Group Affiliates in Vietnam
Vietnam, where Chairman Seung Youn Kim recently visited, has a unique culture and is popular as a tourist destination. It's been booming lately, and it's one of the emerging markets that we are a paying close attention to. In our Group, Hanwha Life Insurance, Hanwha Techwin, and Hanwha Energy have advanced in finance, investment, manufacturing, solar and aviation. Let's take a closer look at the site where Hanwha's name is known in Vietnam.
Hoa Lac Hi-Tech Park is located 30 km to the west of Hanoi, the capital of Vietnam. Hanwha Aerospace is the place where Hanwha Aero engine is located. This is the premier factory site built together by five of Hanwha affilates to produce the highest quality products. Hanwha Corporation Machinery Division was responsible for factory automation, Hanwha Chemical was responsible for solar installation, Hanwha Systems for IT, Hanwha Power Systems for air compressor, and Hanwha Techwin for security solutions. Hanwha Aerospace's initiative to produce the world's best aircraft engine parts has begun.
Hanwha Techwin, which introduced its first security camera in 1991, has been working in the video security business for about 30 years and has been building global competitiveness.
In 2017, it established a new manufacturing company at the Que Vo Industrial Park in Bắc Ninh Province, Vietnam, to expand its global foothold. We look forward to the emergence of the Vietnamese subsidiary as a global manufacturing hub.
Hanwha Life Vietnam is the first for Hanwha Group to enter Vietnam. Hanwha Life Insurance entered the Vietnamese insurance market for the first time as a domestic life insurance company in 2009. In 2009, Hanwha Life Insurance built 108 nationwide sales networks based in major cities such as Ho Chi Minh and Hanoi. The number of FPs, which was only 450 in the early days of operation, is now 13,500, which indicates a reliable insurance company.
Vietnam is a land of opportunity with boundless energy.
Vietnam is still growing, and we are also setting the position of global Hanwha here. From Hanwha Life, which is our pioneer in Vietnam, to the newly launched Hanwha Aerospace, we will cheer for you to become the best company in Vietnam.
4. [Hanwha Aerospace] Contributed to the Successful Nuri Rocket Engine Launch Test
The first fruits of 15 years of Hanwha's sweat! The Nuri rocket test-launching vehicle, which was developed with pure Korean technology, successfully flew on November 28th. Nuri is a Korea's first homegrown carrier rocket. With the success of the test launch, it is now time to launch the Nuri rocket in 2021. Hanwha Aerospace has been focusing on the development of space launch vehicles with purely domestic technologies with Korean researchers.
This test-launching vehicle is even more meaningful in that it was developed with pure domestic technology. Specialized in the development, production and maintenance of aircraft engines, Hanwha Aerospace has been working with the Korean Aerospace Research Institute on the development of projectiles for the past 15 years, and has been responsible for the assembly of engines and turbo pump manufacturing, and has contributed to the successful launch of test vehicle.
To grow into a world-class aerospace company, Hanwha Aerospace will build the first large-scale aviation components factory in Vietnam, providing world-class products and technology. Korea is becoming a space powerhouse and Hanwha Aerospace will continue to develop until the day when the real Nuri rocket is launched in 2021.