Hanwha Broadcasting Center On Air

Hanwha Broadcasting Center On Air

Headlines for May 2018


1. [Hanwha Group] Attended the Boao Forum for Asia

The Boao Forum for Asia, known as the Asian version of the Davos Forum, was held in Hainan, China on April 8th and was attended by the world‘s economic and political leaders. During the forum, the Group was first among Korean companies to organize one of the official sessions.

The theme of this year’s forum was “An Open and Innovative Asia for a Greater Prosperity.” The Group has participated in the forum for five consecutive years. Through the forum, they have expanded their understanding of China and Southeast Asia, and carried out private economic diplomacy activities as they strengthen their global networks.

Particularly, Kim Dong Won, Hanwha Life Insurance’s Chief Innovation Officer, who was selected as a Young Business Leader at the 2017 Boao Forum, attended a discussion hosted by the president of China, Xi Jinping, being recognized as a next-generation leader in Asia. He was invited to the meeting where he communicated with about 50 world business leaders.

Meanwhile, the Group organized a round-table discussion entitled: “Blockchain: Theory, Technology & Application.“ The participants, professionals in business and academia, had a heated discussion about the possibility of growth and formation of a global ecosystem for emerging blockchain technologies.

The Group will continue their interchange with global fintech companies, start-ups, and blockchain professionals and focus on expanding their networks in this area. Also they will expand their presence in the global market as they strengthen their position as a bridge between companies and start-ups.

2. [Hanwha Aerospace] Held Inauguration Ceremony for Hanwha Aerospace

On April 1, Hanwha Techwin changed its name to Hanwha Aerospace, and its Security Business Group was separated from Hanwha Techwin at the annual shareholders’ meeting. The inauguration ceremony for Hanwha Aerospace was held on April 3rd at their headquarters in Changwon, Gyeongsangnamdo province.

CEO Shin said that with the name change to Hanwha Aerospace, the company now has a solid identity as an aviation company. He also emphasized that all employees must work together to achieve the vision of “Becoming the No.1 Global Partner in Aircraft Engines.”

Hanwha Aerospace now has five subsidiaries: Hanwha Land Systems, Hanwha Power Systems, Hanwha Precision Machinery, Hanwha Systems with four existing business units, and Hanwha Techwin, the new name of the Security Business Group of Hanwha Techwin.

Hanwha Aerospace has been the only gas turbine engine manufacturer for Korean fighter jets and helicopters in Korea. We hope to see Hanwha Aerospace soaring into the sky as a global aircraft engine manufacturer.

3. [Hanwha Life] Opened a new DreamPlus center in Seoul, Korea

Hanwha Life Insurance opened DreamPlus Gangnam for the purpose of vitalizing a startup ecosystem. 

The DreamPlus Gangnam is a place where large corporations and startups can network with each other, and investors can find startups with potential. It is the largest office sharing space in the Gangnam area, with a total of 15 stories with 2,500 seats available. About 90 startups and related organizations, innovation teams from large corporations, and investors have already moved in.

Through the establishment of DreamPlus Gangnam, Hanwha Life Insurance is planning to expand the startup ecosystem and develop open innovation models through cooperation with other companies. We look forward to seeing the DreamPlus Gangnam become a hub connecting elements of the the startup ecosystem.

4. [Hanwha General Insurance] Held the 2017 Annual Awards Ceremony

Hanwha General Insurance held their 2017 Annual Award ceremony on April 11th at the Kintex grand ballroom. At the ceremony, over 380 people, including employees, award recipients, and consumer evaluators attended and enjoyed the festival together.

This year’s insurance king was Ham Sung-dae, an FP from Cheongju branch who has won the title for two consecutive years. He has achieved a cumulative retention rate of 94.2% with an annual revenue of 2.7 billion won by focusing on selling property damage insurance and group accident insurance for small companies.

Park Yun-sik, CEO of Hanwha General Insurance congratulated those who received awards for achieving outstanding results by spreading the true value of insurance. And he promised to establish an organizational culture that allows the company to grow again this year with a sales goal captured in the phrase, ‘a whole family of complete coverage’, which is about impressing the customers with the options available to them.

We will cheer for those FPs working for Hanwha General Insurance in a fierce sales environment while keeping their smiles and trying to impress their customers at the same time.

5. [Hanwha Group] Celebrates its 30th year of 2018 Classic Festival with Hanwha

The 30th Orchestra Festival with Hanwha began with an even greater number of programs this year. This year’s theme was ‘Festival,’ and it was prepared in such a way that people could enjoy a festive atmosphere during what has become the best orchestra festival in Korea.

17 orchestras in Korea and the Taiwan Philharmonic, one of the top symphonies in Asia, performed a total of 18 times.

This year’s festival celebrated its 30th year with a special event on the eve of the festival’s opening. 50 musicians who are actively performing in Korea and abroad organized a wind symphony conducted by Kim Young-ryul, a hornist. Their performance on the eve of the festival’s opening announced its beginning, and it was followed by a special performance from the Hanwha Employee Choir and added a different flavor to the festival.

During the last 30 years, the Orchestra Festival has emerged as the best and the largest classical music festival in Korea. We hope to see the world-class performances and various repertories of Orchestra at the Orchestra Festival with Hanwha every year.

Headlines for May 2018
  1. 1. Hanwha Group - Attended the Boao Forum for Asia
  2. 2. Hanwha Aerospace - Held Inauguration Ceremony for Hanwha Aerospace
  3. 3. Hanwha Life - Opened a new DreamPlus center in Seoul, Korea
  4. 4. Hanwha General Insurance - Held the 2017 Annual Awards Ceremony
  5. 5. Hanwha Group - Celebrates its 30th year of 2018 Classic Festival with Hanwha

Archive for Hanwha Broadcasting Center
Headlines for June 2017

Headlines for June 2017


1. [Hanwha Life] Held the 33rd 2017 annual award ceremony

Hanwha Life Insurance held the 33rd annual award ceremony, the largest festival of the company, on May 12th at Kintex in Korea. Chairman Seung Youn Kim attended the ceremony again this year, for the third consecutive year, to congratulate the FPs and employees who have accomplished outstanding results in the difficult insurance market, and he shared encouraging messages.

Chairman Kim has been attending the ceremony every year for three consecutive years since 2015. He congratulated all FPs for accomplishing the asset growth goal of 106 trillion-won through love and trust to customers, and he expressed his appreciation to them. In his remarks, Chairman Kim asked the FPs to actively adopt the changing spirit of the times as they stop old practices and customs from the past.

Moreover, he said that love and respect, honesty and loyalty must come first in any situation since a financial business is about helping people to have better lives. And he encouraged the FPs who attended the ceremony by suggesting that they try to be remembered as Hanwha’s proud FPs, acting with pride as warm partners to our customers and the best financial specialists.

Lastly, Chairman Kim emphasized that we need to practice leadership as we ponder thoughts, standard, and values demanded by the new world. He said that the efforts of FPs combined with their sweat and tears are the promises to protect our customers’ happiness, and they will be remembered as part of proud Hanwha’s future.

2. [Hanwha Group] Held an opening ceremony of the Hanwha Shanghai Plaza

Hanwha Group has accelerated its global management over recent years and is running various businesses in all parts of the world in business sectors such as solar, chemical, materials, and financial. Among the various locations, Shanghai has been a strategic location for global businesses since the greatest number of affiliates has chosen it for a long time. In this important market, the Group has felt the need to combine the global offices of eight affiliates and operate a representative office. After over a year of preparation, the Hanwha Shanghai Plaza is now finally opened.

The Hanwha Shanghai Plaza is located on the west side of Huangpu River, which runs through the middle of Shanghai. About 149 employees from eight affiliates, including Hanwha Chemical, Q CELLS, Techwin, FC, Trading, Advanced Materials, and Galleria Duty-Free work on two floors in New Caohejing International Business Center using 3,354㎡ of a floor space.

The establishment of the Hanwha Shanghai Plaza not only means physical integration through sharing the same office space, but also it is expected to create synergy among the eight affiliates from different industries through cooperation and collaboration in various tasks such as sales, dealing with the government, and management.

Through the opening of the Hanwha Shanghai Plaza, we expect that it is going to provide opportunities to increase Hanwha’s global business competence and status. And we hope that all 149 employees of the Hanwha Shanghai Plaza play important roles in meeting this expectation.

3. [Hanwha Group] Ranked 5th among major Korean corporates based on the amount of net income.

The Fair Trade Commission categorizes a company with total assets of over 10 trillion-won each year as a large corporation, which limits mutual investment and debt guarantee. Hanwha is ranked 8th this year again with assets totaling 58.539 trillion won.

Since the proclamation of the vision ‘Quality Growth 2020’, the Group has been getting attention from the market as they simultaneously execute external growth and internal management with the goal of becoming the No.1 company.

The Group will continue to strengthen its fundamental competencies in chemical, materials, defense, solar, and financial industries with a “select and concentrate” strategy. At the same time, they will continue investing and taking on new challenges, even under the uncertainty of the world’s economy in order to achieve the vision ‘Quality Growth 2020’.

4. [Hanwha Techwin] Signed a contract with India for exporting self-propelled howitzer K9s

We are pleased to announce that Hanwha Techwin signed a contract with India to export premium self-propelled howitzer K9s. This K9 export deal is the 4th exporting opportunity, following the deals with Turkey, Poland, and Finland. The contracted amount is 370 billion won for 100 improved versions of the K9 self-propelled howitzer named Vajra.

The contract was signed at the chamber of commerce in India. This contract is more meaningful because this is the first time for a Korean defense company to enter one of the largest weapons importing markets in the world, and it allows Hanwha to establish a foundation to expand the business in Asia and the Middle East.

In order to conform to the Indian government’s manufacturing industry vitalization policy called “Make in India”, Hanwha Techwin has formed a strategic consortium with the Indian company Larsen & Toubro and participated in a self-propelled howitzer business in 2011. They successfully tested the weapon in the Rajasthan desert in India, which is a hot, sandy area, while Indian army was supervising, and Hanwha proved its quality.

Hanwha Techwin is planning to manufacture 100 K9 self-propelled howitzers in India that could be modified for the Indian Army while transferring the technology to them, and they are going to deliver the weapons with Larsen & Toubro.

5. [Hanwha Corporation/Explosives] CEO visited outstanding partner companies, carrying out win-win management activities

Hanwha Group’s partner companies are not just subcontractors but they are in family and partner relationship that are going further together with Hanwha. Choi Yang-soo, CEO of the Hanhwa Corporation Explosive Division, visited one of their partner companies, Jaeil, located in Incheon and listened to their difficulties and carried out win-win management activities by encouraging them to improve their manufacturing processes.

Mr. Choi visited Jaeil, which was selected as an excellent partner company by Hanwha Corporation last year after receiving a high evaluation on its deadline, quality, and contribution categories during a routine evaluation. In fact, this company helped Hanwha Corporation manufacture torch casings for the 2018 Pyeongchang Winter Olympics.

In particular, Jaeil had received various investments from Hanwha Corporation for quality and process improvement because they were selected for the partner company’s process improvement program carried out by Hanwha Corporation. This program includes activities of sharing know-how and creating better management and more businesses as professionals from each area of Hanwha Corporation visit a partner company and discuss their weaknesses

For this project, Hanwha Corporation supported Jaeil with a metal pipe cleaning machine and automated inspection equipment. Jaeil was able to improve the quality of their products and productivity thanks to the equipment that was brought in with Hanwha’s investments.

Meanwhile, CEO Choi visited an assembly plant where torches for the 2018 Pyeongchang Winter Olympics were being made, and he inspected the manufacturing processes thoroughly.

Besides partner companies’ process areas, Hanwha Corporation is also providing consulting activities in the environmental safety area, which is a vulnerable area for small companies. Hanwha Corporation recommends practical options that can improve productivity following the Industrial Safety & Health Standard so that partner companies can have a more efficient and safer working environment.

Furthermore, Hanwha Corporation is going to strengthen their partner companies’ competence, which is a foundation of improving quality and cost at Hanwha by finding ways to offer practical help and expanding the qualification range of a partner company for the process improvement program.

Headlines for June 2017
  1. 1. Hanwha Life - Held the 33rd 2017 annual award ceremony
  2. 2. Hanwha Group - Held an opening ceremony of the Hanwha Shanghai Plaza
  3. 3. Hanwha Group - Ranked 5th among major Korean corporates based on the amount of net income
  4. 4. Hanwha Techwin - Signed a contract with India for exporting self-propelled howitzer K9s
  5. 5. Hanwha Corporation/Explosives - CEO visited outstanding partner companies, carrying out win-win management activities
Headlines for May 2017

Headlines for May 2017


1. [Hanwha Engineering & Construction, Galleria] Develops a convention town in Gwanggyo, Korea

The Group announced the beginning of a large multi-complex development project that will be built on 81,000 square meters of land in Gwanggyo, Suwon, Kyunggi province. The project will include a Galleria department store, an aquarium and a hotel with 270 rooms, 47- story residential buildings, and a convention center that can hold an international conference. To promote this project, they have opened a model home for GwanggyoDream & Green apartments on April 14th and have started selling the units.

The Gwanggyo Convention Dream & Green is going to be built in front of the Gwanggyo lake park, which is a popular attraction in the area. Since a Galleria department store, a hotel, and a convention center are going to be built around this residential apartment, many investors and buyers are interested in this project.

The complex will have a total of 759 residential units that are 84~175 square meters in size throughout three 47-story buildings with five underground levels. Each unit will have a view of the lake park and easy access to public transportation, schools, and surrounding conveniences. And it will be the highest-quality residential complex in Gwanggyo.

Meanwhile, Hanwha Galleria is planning to create a new landmark in Gyeonggi province by developing a department store with 73,000 square meters of store space on a total of 150,000 square meters of building space in Gwanggyo Convention Multi-Complex area. They are committed to this project from a design stage.

Galleria Gwanggyo, a tentative name, is getting a lot of attention because it is designed by a world-renowned architect Rem Koolhaas. The Galleria will introduce many family-friendly elements customized to local customers and will host major, global brands as they utilize their premium brand department store image, which is their strength, along with their know-how in selecting premium trends.

We hope that the Gwanggyo Convention Multi-Complex becomes a warm place where it connects city and culture, nature and people.

2. [Hanwha General Insurance] Held an annual grand prize award ceremony

Hanwha General Insurance held an annual grand prize award ceremony to congratulate those FPs who have achieved the highest honor with their distinguished challenging spirit and passion last year. Let’s meet the person who became the ‘king of insurance’.

On April 13th, Hanwha General Insurance held the 2016 Annual Grand Prize Award Ceremony at the Yeosu Expo Convention Center in Jeonnam province. A total of 480 award recipients, employees, and Park Yun-sik, CEO of Hanwha General Insurance attended the ceremony. At the ceremony, Ham Seong-dae, a FP from Cheongju branch of Chungcheong area, became the ‘king of insurance’ and 213 FPs and representatives received prizes in each category.

CEO Park said in his welcoming remarks that he thanks all who ran relentlessly last year with passion as they deliver the value of offering complete insurance coverage to the entire family of our customers.

We hope to see Hanwha General Insurance achieve sustainable competitiveness as they secure the highest level of productivity in the industry which is based on a sincere consulting sales method.

3. [Hanwha Corporation/Machinery] Won a contract to build a logistics automation facility for Nexen Tire in the Czech Republic

Hanwha Corporation Machinery Division has established trust with Nexen Tire since building an automated distribution system for the Nexen Tire factory in Changnyung in 2011. Because of this, Hanwha Corporation Machinery Division won a contract worth approximately 90 billion won from Nexen Tire to build another automated distribution system for a factory in the Czech Republic.

Nexen Tire’s factory is going to be built in the Zatec area, located 70km northwest of Prague, the capital of the Czech Republic. This factory is going to serve as a manufacturing base for Europe.

Hanwha Corporation Machinery Division is going to install the automated distribution system for the entire manufacturing process of the factory. Hanwha plans to offer EPC engineering services by performing design, procurement, and installation at the same time. They are going to automate the entire process of tire distribution, including an automobile storage system, an unmanned transporting vehicle, a ceiling transporting vehicle, a robot automation system, and a conveyer. They expect it to contribute to improvements in productivity and efficiency.

Hanwha Corporation Machinery Division plans to maximize its productivity by building a smart factory with an improved equipment production ability and unmanned automated equipment technology in the future.

4. [Hanwha Techwin] Enters the collaborative robot market

On March 30th, Hanwha Techwin held a launch show for a collaborative robot, HCR-5, at the Automation World 2017 Expo at Coex in Seoul. They also announced the official launch of a collaborative robot business, the first among Korean companies.

About 150 people from the government, university robotics departments, and other cooperative partners attended the launch show and showed their interest in the collaborative robot.

Particularly, Shin Hyun-woo, CEO of Hanwha Techwin Aerospace & Defense Business Group, gave a presentation in person and expressed the company’s interest in the robot business. CEO Shin said that he expects to see Korea’s robotic industry grow with the launch of Hanwha Techwin’s collaborative robot. He also said that the company will continue to invest in the robotic business and expand it to global markets in Asia and Europe.

A collaborative robot works closely with humans and assists workers. The robot is often used to automate processes with high risks of jamming or fire accidents during metal fabrication and plastic molding, and boring or repetitive jobs such as screwing tasks.

Unlike an industrial robot which requires a large and separate floor space apart from human workers, a collaborative robot can work in close proximity to workers so it requires only a small space and is safe and simple to use.

The HCR-5 in particular requires a low initial investment, which is nearly half that of competitors’ products. It is convenient, safe, and has outstanding workability and an easy operation system so that anyone can use it. Its design was recognized with an ‘iF Design Award,’ one of the world’s top three design awards, in the product category this year.

We hope that Hanwha Techwin’s collaborative robots keep on rolling in a market that is recently getting a lot of attention as the 4th industrial revolution unfolds and rapid growth is expected, and we hope the robots greatly contribute to Korea’s manufacturing and robotic industry.

5. [Hanwha Chemical] Established a new technology research center with Seoul National University

Hanwha Chemical is strengthening academic-industrial cooperation in order to improve research and development competitiveness. Last year, the company established the Future Technology Research Center with KAIST. They are currently conducting research to develop original technologies for the future. This year, Hanwha Chemical started to strengthen its R&D competitiveness in developing specialized products and fostering outstanding talents by establishing the New Technology Research Center with Seoul National University.

The New Technology Research Center is going to run for five years, from this May to 2022. Professor Jang Jyong-sik, an expert in chemical materials in Korea, and a few other people are going to participate in the program. They are going to develop specialized products and catalysts that Hanwha Chemical is currently focusing on as well as a manufacturing process simulation for polyolefin-category products.

Ownership of the technology patents developed through this center will be shared 50:50 between Hanwha Chemical and SNU. And Hanwha Chemical is going to pay royalties to SNU when the technology is commercialized. In addition, the company is going to give academic-industrial scholarships to students who participate in this project.
Hanwha Chemical expects the establishment of this R&D center, along with academic-industrial cooperation, will increase their competitiveness in Korea’s petrochemical industry, and the company hopes that this offers a new model of academic-industrial cooperation.

Headlines for May 2017
  1. 1. ​Hanwha Engineering & Construction, Galleria - Develops a convention town in Gwanggyo, Korea
  2. ​​2. Hanwha General Insurance - Held an annual grand prize award ceremony
  3. 3. ​Hanwha Corporation/Machinery - Won a contract to build a logistics automation facility for Nexen Tire in the Czech Republic
  4. ​​4. Hanwha Techwin - Enters the collaborative robot market
  5. ​​5. Hanwha Chemical - Established a new technology research center with Seoul National University
Headlines for April 2017

Headlines for April 2017


1. [Hanwha Group] Chairman Seung Youn Kim met with Jeffery Immelt, the Chairman of GE

Chairman Seung Youn Kim met with Jeffrey Immelt, the chairman of GE who visited Hanwha Group again this year. They discussed exploring new growth engines through industrial internet technology and talked about their common interests.

Chairman Kim and GE chairman Mr. Immelt discussed exploring new growth engines based on industrial internet technology by creating high value-added products and services in the manufacturing industry, and they also sought for continuous cooperation in the gas turbine sector as well as aircraft engines, industrial applications of IoT, and possible cooperation in the solar area.

Chairman Kim said that he was impressed by GE’s creative attempts in industrial 4.0. The chairman also said that he expects to strengthen Hanwha’s competence in manufacturing and products through cooperation with GE in the industrial internet area and wished to cooperate with GE to develop new business models.

Last year, they signed a MOU to apply GE’s industrial internet know-how to Hanwha Techwin’s products and factories. Hanwha Techwin is planning to transform their plants into smart factories by using GE’s industrial internet platform.

2. [Hanwha Group] Hosted an official session for startups at the Boao Forum

For four consecutive years, Hanwha has attended the Boao Forum, held in the town of Boao, located in Qionghai, China. Hanwha carried out its role of economic diplomacy at the Forum even though the relationship between Korea and China has been strained. This year, Hanwha invited 20 Asian startup companies and hosted the Forum’s official roundtable titled, ‘From Made in Asia to Created in Asia’, the first roundtable hosted by a Korean company. Let’s take a look at this event where active discussions took place.

Kim Dong-won, a head of Fintech & Innovation Center of Hanwha Life Insurance, and Kim Yong-hyun, CEO of Hanwha Asset Management attended the four-day long Boao Forum which started on March 23rd, and they had opportunities to exchange information with other global leaders.

At this year’s Boao Forum, Hanwha was the first Korean company to host an official session with the organizer of the Forum. 20 startup founders who are in their 20s and 30s from Korea, China, Japan, India, Thailand, and other Asian countries participated served as panelists. They shared their ideas and entrepreneurial spirits, and exchanged their opinions on possibility of growing their own businesses bigger by making connections in Asia.

Moreover, they discussed the importance of networking and growth potential of a startup ecosystem in Asia through the securing of an open innovation strategy, creating Asia’s future growth engines.

At the startup roundtable discussion, Kim Dong won, a head of Fintech & Innovation Center of HLI, participated as an official panelist and said that this roundtable discussion was organized to discuss how much the creative influences of Asian countries with long history and traditions can deliver in the global market. And he continued saying that if startup companies from each country can be connected, then they can create more possibilities.

3. [Hanwha Q CELLS] Chung Sye-kyun, the Speaker of the National Assembly, visited Hanwha Q CELLS’ plant in Malaysia.

On March 23rd, Chung Sye-kyun, the Speaker of the National Assembly, and his group visited Hanwha Q CELLS’ plant in Malaysia. The group originally made a diplomatic visit to Malaysia for the Singapore-Malaysia high-speed rail project, but they decided to include in their schedule a visit to the Hanwha Q CELLS’ plant in Malaysia to confirm the importance of the solar business, which has been getting more attention since the Paris Agreement.

Through the visit of the speaker’s group, Hanwha Q CELLS has been recognized for its successful entrance into the overseas market and their accomplishments in Korea as well as overseas. With this opportunity, they plan to invest continuously this year and accomplish the goal of expanding to 6.8GW cell and module production capacity and become number one in the global solar market.

4. [Hanwha Corporation, Chemical, Techwin, Investment & Securities ] Held annual general meetings

Hanwha Corporation, Hanwha Chemical, Hanwha Techwin, and Hanwha Investment & Securities held annual general meetings on March 24th. There they expressed that they will do their best to accomplish better results.

At the 65th annual general meeting, Hanwha Corporation proposed rules on the approval of the financial statements, a salary cap on directors’ compensation, and the appointment of directors, board members, and audit committee members. All proposed items were passed.

At the meeting, CEO Lee Tae-jong said that the company was able to successfully issue preference shares under difficult management situations. The company was also able to reach total sales of approximately 47.12 trillion won, which is a 14% increase compared to the previous year, and 1.68 trillion won of operating profit, a 122% increase after continuously ensuring internal stability in order to become a global company.

Meanwhile, Hanwha Chemical held its 43rd annual general meeting. At the meeting, they reported the audit and sales results, and proposed the approval of the financial statements, the appointment of a director and audit committee members, and a salary cap for the director’s compensation. All proposed items were passed.

CEO Kim Chang-bum expressed that they are going to improve the company’s value through effective communications, and maximize the shareholders’ value through innovation of organizational culture and the management goal of fulfilling social responsibilities.

At the annual general meeting of Hanwha Techwin, CEO Shin Hyun-woo announced that the company has accomplished the total sales of 3.5 billion won and the operating profit of 150.7 billion won last year as the company’s main businesses are stabilized a year after the company was merged with Hanwha Group. The company became a profit-generating company over the past three years. Furthermore, he revealed that the company is going to increase sales in strategic markets such as air defense, security, and the industrial equipment sector this year and grow to become a global company by maximizing profits through effective management.

At the annual general meeting, Hanwha Investment & Securities proposed a total of 6 items, including the approval of financial statements, and all of them were passed. CEO Yeo Seung-joo promised that he is going to maximize the company’s profit as the company increases the clients’ assets along with the customers’ trust. He also promised to fulfill the ‘Addition Management’ philosophy which is supposed to benefit clients, shareholders, the company, and employees.

5. [Hanwha Engineering & Construction] Minister of land, Infrastructure, and Transport visited Bismayah new city construction site

As you know, a mega-sized new city development project, the new city of Bismayah is being built in Iraq. This modern city is expected to be the very first example of a developed Iraq since the civil war. The minister of Land, Infrastructure, and Transport visited the Bismayah construction site and encouraged those who work at the site.

Minister Kang Ho-in and the representatives of the Korea-Iraq Joint Commission on Economic Cooperation group met with Choi Kwang-ho, CEO of Hanwha E&C, Song Woong-yeob, the Korean ambassador to Iraq, and other officials. And they visited the Bismayah new city construction site and encouraged workers of Hanwha E&C and their partner companies.

Minister Kang said that it’s very impressive to see the Bismayah new city, full of Iraqi’s aspiration and the core of Iraqi government’s new city project, is being built by Koreans’ dedication and effort. He also expressed that he is proud of those who are carrying out the project successfully, and encouraged them to do their best until the end of the project with the world’s best technologies.

By strengthening government level support like this visit of the minister of Land, Infrastructure and Transport, Hanwha E&C expects to receive more orders with the Iraqi government’s support which has been building over many years. The company is committed to cooperate for expansion of Korea-Iraq economic cooperation and promotion of friendship between two countries at a private company level.

Headlines for April 2017
  1. 1. Hanwha Group - Chairman Seung Youn Kim met with Jeffery Immelt, the Chairman of GE
  2. 2. Hanwha Group - Hosted an official session for startups at the Boao Forum
  3. 3. Hanwha Q CELLS - Chung Sye-kyun, the Speaker of the National Assembly, visited Hanwha Q CELLS’ plant in Malaysia
  4. 4. Hanwha Corporation, Chemical, Techwin, Investment & Securities - Held annual general meetings
  5. 5. Hanwha Engineering & Construction - Minister of land, Infrastructure, and Transport visited Bismayah new city construction site
Headlines for March 2017

Headlines for March 2017


1. [Hanwha Group] Held ‘WITH Conference’ on the topic of establishing a young and future-oriented organizational culture

In his commemoration speech for the 64th Anniversary, Chairman Kim Seung-youn said that rejecting bureaucracy, opportunism, and embracing an easy-going attitude while striving to maintain a perpetually young company must be the future image of Hanwha, and he emphasized that Hanwha members must stick together with young thoughts. In order to establish a future-oriented and youthful organizational culture, the Hanwha WITH Conference 2017 was held. It identified, shared, and awarded outstanding organizational culture cases and success with the Group’s recommended tasks.

The first Hanwha WITH Conference was held on the topic of development of female talents. Last year’s conference was held on the topic of respecting the diversity of organizational culture. This year’s topic was establishing a young and future-oriented organizational culture. Unlike the previous two conferences, this year’s conference covered more in-depth concerns not only for female employees but also for all Hanwha members.

As Hanwha Group aims to become a global leader, the Group is trying to grow in hardware as well as in software. Starting from Hanwha WITH Conference 2017, Hanwha is planning to prepare a foundation for the new jump through an innovative and challenging organizational culture that suits a leading global company. We look forward to seeing a young Hanwha that everyone wants to work for where employees can express their creativity freely.

2. [Hanwha Total Petrochemical] Received a level-8 rating, the highest ever in Korea, from International Safety Rating System (ISRS), the world’s most trusted safety evaluation rating system

Hanwha Total received a level-8 rating from the International Safety Rating System (ISRS), and it is the first company in Korea to receive this rating from the ISRS. The ISRS is an auditable safety management system marketed by DNV GL, which is the world's largest classification society, and Hanwha Total has been recognized for its global level safety management. Hanwha received ISRS level-8 rating for the first time in Korea, and there are only nine companies in the world that have achieved this rating. Since there are no companies that have received levels 9 or 10 yet, the level-8 rating is the highest so far.

The 40 year-old ISRS evaluates a company’s overall management systems in areas such as safety, health, environment, and quality. After the evaluation, it rates a company from levels one to ten to prevent accidents and help manage losses. It is known as the most trusted safety evaluation rating system. Global companies such as GE, ExxonMobil, Chevron, and 23% of 100 Fortune companies are using this program to prevent accidents and manage losses.

Hanwha Total’s safety management system is being recognized so that companies in the same industry as well as in other industries in Korea could actively benchmark their standards. In order to increase the level of safety, the employees in charge and the top management are going to upgrade the areas of improvement according to the evaluation. The company is also going to strengthen the safety management of their partner companies who are working in the plant. Since last year, the company has placed safety managers in proportion to workers working in the factory. They also support their partner companies so that they can manage safety independently by providing all kinds of incentives, including prize money, to outstanding partner companies.

This year, Hanwha Total has adopted a safety rating evaluation systems for their partner companies for the first time in Korea. They expect their partner companies to prevent accidents, improve loss management, and establish a global top-level safety management system.

3. [Hanwha Group] The PyeongChang 2018 Olympic Torch, produced by Hanwha Corporation was unveiled

The PyeongChang 2018 Olympics torch, which was made by Hanwha Corporation, has been unveiled. It is designed so that the flame will continue to burn in Korea’s winter weather conditions, including strong wind and heavy snow. On February 9th, the torch was unveiled at the official countdown ceremony for the opening day. The torch is 700mm in length, representing the altitude of PyeongChang, which is 700 meters above sea level. It weighs 1.3 Kg and the top is made of steel and the rest of the torch is made of aluminum. The torch is designed with an upwardly-spiraling flame, and represents some cultural features of Korea, and the message of Olympic spirit which connects five continents into one.

One of the unique features of the torch is that it has four partitions. An umbrella shape cap is placed on the top of the torch, which helps rain to run outside of the burner system, minimizing the effects of heavy snow and rain.

The motif of the torch’s surface comes from traditional white porcelain, which has elegant lines and the color white which represents winter Olympics, a festival of snow and ice. The handle engraving of people holding hands with each other symbolizes all of the people in the world joining the torch relay.

Hanwha provided support with the fireworks for the Seoul Olympics held in 1988, and the company is going to provide them again for the opening and closing ceremonies of the PyeongChang Winter Olympics and Paralympics. Hanwha is going to sponsor 25 billion won in total, including about 8,000 torches, which are going to be used during the 100 days prior to the opening day.

We hope that the PyeongChang Olympic torch with its beautiful design and excellent technical features becomes a symbol that touches people’s hearts and delivers a message of happiness.

4. [Hanwha Corporation, Hanwha Techwin, Hanwha Systems, Hanwha Defense Systems] Hanwha’s Four Defense Companies jointly participated in the IDEX 2017, one of the largest international defense exhibition and conferences

IDEX 2017, the largest international defense exhibition and conference in the Middle East and Africa, was held in Abu Dhabi, the capital of the Arab Emirates, from February 19-23. About 1,200 companies from 60 different countries participated in the exhibition. Hanwha’s four defense companies set up an integrated display and sought opportunities to become a global defense company.

Four defense companies: Hanwha Corporation, Hanwha Techwin, Hanwha Defense, and Hanwha Systems displayed their main products at the International Defense Exhibition & Conference (IDEX) 2017 and actively carried out an overseas marketing campaign.

Hanwha Corporation focused on promoting their defense technology competence, which has reached the global level, and introduced a guided weapon called Chunmoo, and the newest weapon system called Korean Ballistic Aerial Target System (K-BATS), which can be used for evaluating the performance of an anti-aircraft defense missile.

Particularly, Hanwha Corporation Defense Division signed an MOU with Raytheon in America for a joint business project through offsets. This MOU is a result of purchasing the Korean Air Force’s medium-range air-to-air missile called AMRAAM. They are going to start developing a laser-guided bomb (GBU-12) for joint business ventures in the overseas market in the future, including the Middle East. Hanwha Corporation is going to supply MK-82 in this project.

Hanwha Techwin introduced a K9 self-propelled howitzer with two other models and a model of a K10 ammunition resupply vehicle. K9, which is recognized for its best performance in the world, was first exported to Turkey in 2001. After exporting to Poland in 2014, the company started targeting the Northern European market and Middle Eastern countries and continues to expand to the overseas market through aggressive marketing.

Hanwha Systems has a strategy to expand their overseas business through the development of export opportunities to strategic countries. For this, they introduced surveillance, reconnaissance, command and control, and communication products that function like a brain and sensory organs of a military weapon system such as electronic optics, radar, a combat system, and electronic warfare equipment.

Hanwha Defense introduced a real K21 infantry fighting vehicle and five models of a 105mm light tank and an armored wheeled vehicle. The company plans to expand their influence in the Middle East market with their surface-to-air and air-to-air system technologies, which have been accumulating for 40 years.

Through this exhibition, four defense companies expect to participate in the Saudi Vision 2030 Project. They are going to establish a foundation as a global defense company and target the overseas market by actively seeking new business opportunities in the Middle East and Africa.

5. [Hanwha Group] The Hanwha Finance Classic is promoted to a KLPGA major tournament

The Hanwha Finance Classic, which is held at Golden Bay Golf & Resorts every year, is not just a part of the KLPGA tour but has now become a world-class golf event. We are pleased to announce that the Hanwha Finance Classic has been promoted to a KLPGA major tournament starting this year. Since its beginning in 2011, the Hanwha Finance Classic has become the most want-to-win event among KLPGA players, with a total of 1.2 billion won prize money and 300 million won for the winner, which is the largest prize in Korea. KLPGA has decided to promote the Hanwha Finance Classic to one of the five official major tournaments of the KLPGA Tour, starting this year.

Since 1990, Hanwha Group had held the Hanwha Cup Seoul Women’s Open for eight consecutive years. Hanwha contributed to the development and revitalization of the women’s golf tour and helped discover many outstanding players in Korea as they have been succeeding in the Hanwha Finance Classic since 2011.

Hanwha Group is going to work hard for this event so that players can play at a top level suitable to a KLPGA major tournament and make the event an international event that represents Korea.

Headlines for March 2017
  1. 1. Hanwha Group - Held ‘WITH Conference’ on the topic of establishing a young and future-oriented organizational culture
  2. 2. Hanwha Total Petrochemical - Received a level-8 rating, the highest ever in Korea, from International Safety Rating System (ISRS), the world’s most trusted safety evaluation rating system
  3. 3. Hanwha Group - The PyeongChang 2018 Olympic Torch, produced by Hanwha Corporation was unveiled
  4. 4. Hanwha Corporation, Hanwha Techwin, Hanwha Systems, Hanwha Defense Systems - Hanwha’s Four Defense Companies jointly participated in the IDEX 2017, one of the largest international defense exhibition and conferences
  5. 5. Hanwha Group - The Hanwha Finance Classic is promoted to a KLPGA major tournament
Headlines for February 2017

Headlines for February 2017


1. [Hanwha Group] Held a New Year ceremony for 2017

Hanwha Group held a 2017 New Year ceremony with Chairman Seung Young Kim on January 2nd, which was the first working day of the year. In his 2017 New Year’s message, Chairman Kim said that 2017 marks the start of “Quantum Jump”, and he emphasized that this is the time to remain committed to the dream of making Hanwha a global leader.

The chairman, vice chairmen, CEOs, and executive members attended the 2017 New Year ceremony and they committed to the new beginning with a strong pledge to make Hanwha a global leader.

Through his 2017 New Year’s message, Chairman Kim emphasized that Hanwha members must bolster the intensity of their innovation to ensure not only stability for today but growth for tomorrow in this climate with the market challenges we face.

“The winds of change, portending a new era and a new order are blowing aggressively across the world. The speed and power with which it will fundamentally change mankind in this climate of chaotic upheavals are nothing short of revolutionary. And with anticipation, we must ready ourselves with new thoughts, perspectives, and leadership suited for this new era.”

He also said that all employees have to redefine social roles and responsibilities to meet the demands of the new times while achieving not only economic success but also recognition in all other areas during this process.

Moreover, the chairman asked Hanwha members to devote their energy to upgrade business systems and secure new opportunities for growth by strengthening their core capabilities as they prepare for the rise of the world’s 4th industrial revolution. He demanded the elimination of outdated systems and suboptimal practices in order to help transform the company into a better Hanwha.

“We must reinforce the fundamentals and principles of corporate management that is aligned with the spirit of the new times. Outdated systems and suboptimal practices must be eliminated, and replaced with improved standards that can better drive Hanwha Group’s transformation.”

In addition, he pointed out that Hanwha members must adopt risk management that does not deflect from their goals even during the worst possible crisis. And he encouraged all of Hanwha employees to ensure unshakable financial stability and advance organizational resilience and core competitiveness.

“My dear Hanwha family, it is said that birds build their nests on a day when the wind blows the fiercest. Perhaps, they toil under such harsh conditions to build a house to make sure it will withstand even strongest gust of wind. We, too, must strengthen our company amidst the relentless gales of change that is gales of change that is blowing against us.”

Lastly, he asked all members to start the change with themselves and even shape the winds of change around them for the dream of making Hanwha a global leader and to begin this new year full of Hanwha’s energy and youthful passion.

After the New Year ceremony, each affiliate held a ceremony to kick off the New Year. Employees of Hanwha’s defense affiliates, Hanwha Corporation, Hanwha Techwin, Hanwha Systems, and Hanwha Defense, started their first working day in 2017 by visiting the Seoul National Cemetery.

About 130 employees, including Lee Tae-jong, CEO of Hanwha Corporation, Shin Hyun-woo, CEO of Hanwha Techwin and Hanwha Defense, Chang Si-kwon, CEO of Hanwha Systems paid their respects at the National Cemetery. And they showed their will to serve the country with the business by representing companies for the Korean defense industry in 2017.

2. [Hanwha Group] Participated in the World Economic Forum held in Davos, Swintzerland from January 17th to 20th

The World Economic Forum, which is also known as the Davos Forum, was held in Davos, Switzerland for four days from January 17th with the theme, “Responsive and Responsible Leadership.” Hanwha also participated in the forum again this year. Hanwha officials who attended the forum met with about 200 global leaders and strengthened Hanwha’s competitiveness for global core businesses in the future.

At the 2017 Davos Forum, Hanwha officials exchanged ideas with global economic leaders to institute responsive and responsible leadership so that they can better deal with the world’s 4th industrial revolution and neoisolationism.

Kim Dong-kwan, Managing Director of Hanwha Group Management and Planning H.Q. , Kim Dong-won, Head of Fintech & Innovation Center of Hanwha Life Insurance, Cha Nam-gyu, CEO of Hanwha Life Insurance, Shin Hyun-woo, CEO of Hanwha Techwin, Kim Hee-cheol, CEO of Hanwha Total, Kim Yong-hyun, CEO of Hanwha Asset Management attended the forum.

Hanwha set up an office space and named it “Hanwha Office.” It was located within a three minute walking distance from the main event center. The space was mainly used for hosting meetings with global leaders. They installed a sign board for Hanwha brands on the exterior wall of the office building where visitors coming to the Congress Centre could easily see it. The sign board helped introduce the Hanwha name as a global brand. There were five meeting rooms and a control room in the Hanwha Office. These meeting rooms were used as a place for network exchanges.

Kim Dong-kwan has been visiting the Davos Forum for eight consecutive years. This year, he focused on finding an appropriate direction for the company in preparation for the changes coming from the era of the world’s 4th industrial revolution along with the theme of this year’s Davos Forum, Responsive and Responsible Leadership.

Mr. Kim met with Lorenzo Simonelli, CEO of GE Oil & Gas, which is a global company in energy equipment. They shared their views on the future of the energy equipment industry. They also discussed ways to increase business cooperation between the two companies.

He also met with Matthias Zachert, Chairman of Lanxess, which is one of top five chemical companies in Germany. They discussed their common interests, such as lightweight composite materials for automobiles, and the future of the global chemical business in a low-growth situation.

Mr. Kim not only positioned himself as a global entrepreneur through networking with global leaders but also discovered future growth engines and made a forecast for global business at the Davos Forum.

On January 20th, which was the last day of the forum, he participated in a panel session called Energy Game Changer, which was held at Davos Congress Centre. He emphasized how Hanwha Q CELLS, one of the world’s number one solar companies, became one of the most innovative companies as he presented a case that showed the company’s efforts to double their competitiveness and innovation through an internal innovation and cooperation with partners.

Kim Dong-won, Head of Fintech & Innovation Center of HLI attended this year’s forum for the second time. He focused on finding information about fintech and the new order in financial markets. He discussed future growth engines in Asia with young entrepreneurs. He also met with Truong Gia Binh, Chairman of FPT, which is the number one software company in Vietnam. They discussed the possibility of participating in the development of customer support software for HLI Vietnam. They also exchanged information about start-up business areas in Vietnam.

Cha Nam-gyu, CEO of HLI has attended the forum for five consecutive years, and he focused on finding global finance business strategies. With Kim Yong-hyun, CEO of Hanwha Asset Management, CEO Cha met with Roger Crandall, Chairman of Massachusetts Mutual Life which is the parent company of Barings. They talked about how revenue increased in the life insurance market over the last nine years until 2015, and differentiated marketing strategies for bancasurance products offered by life insurance companies, brokers, and direct marketing. The CEOs also met with David Rubenstein, a co-founder of The Carlyle Group, the world’s largest investment company, and James Coulter, a co-founder of TPG Capital. They discussed the global economy, the forecast of private equity fund markets, promising investment areas, and investment strategies.

Shin Hyun-woo, CEO of Hanwha Techwin, figured out the Mega Trend during his first attendance at Davos Forum. He tried to establish a foundation of cooperation with global companies. Kim Hee-cheol, CEO of Hanwha Total, focused on figuring out global trends in the energy industry by attending various sessions with topics such as a carbon market, climate crisis, and forecasts of global energy.

Meanwhile, Hanwha Q CELLS held the Global Green Growth Institute (GGGI) Breakfast 2017 on January 19th. GGGI is supported by the UN. At this breakfast meeting, Kim Dong-kwan participated with KAIST professor Kim Sang-hyup and government officers who are in charge of energy policies in the U.S., Germany, Britain, and Malaysia. They discussed the future direction of environmental policy and new renewable energies.

Hanwha is going to actively respond to market changes with the global business management strategies and branding and marketing practices learned at this year’s Davos Forum. And Hanwha will continue to try to find ways to establish responsive and responsible leadership that can overcome the waves of the 4th industrial revolution and neoisolationism.

3. [Hanwha Engineering & Construction] Collected $598 million from the Iraqi government for the Bismayah new city development project

The Bismayah new city development project is one of Hanwha E&C’s large size core projects. They are building about 100,000 housing units and other social infrastructure projects. On January 2nd, Hanwha E&C collected $598 million from the Iraqi government for the Bismayah new city development project.

When you take the situation into consideration that the Iraqi government was having financial difficulties due to civil war and a slide in oil prices, this payment showed the Iraqi government’s strong will to complete the Bismayah new city development project successfully and serves as an expression of wholehearted trust in Hanwha E&C.

Last month, Choi Kwang-ho, CEO of Hanwha E&C, met with the prime minister Haider al-Abadi in Iraq. CEO Choi explained future construction plans and presented the residents’ level of satisfaction. The prime minister expressed his full support for Hanwha E&C, which is carrying out the project successfully. He promised to provide government assistance and full support for the remainder of the project.

Thanks to this payment, Hanwha E&C is going to reduce loans and improve the debt ratio through the increase of liquidity.

4. [Hanwha Group] Donated $2.6 million to Community Chest of Korea as part of social contribution activities

In this cold winter season, Hanwha Group is continuing to support and help our neighbors through various social contribution activities. In celebration of the New Year, Hanwha donated $2.6 million to the Community Chest of Korea to reach out to those in need.

Hanwha Group has been donating to the Community Chest of Korea every year since 2003. In order to overcome economic crises in Korea as well as overseas, and to participate in a sharing culture with local communities for win-win growth, Hanwha donated $2.6 million this year to the Community Chest of Korea.

At the donation delivery ceremony, Choi Sun-mok, senior executive president of the Hanwha Group communication team, said that Hanwha is going to serve as the light that shines into every dark corner of the world where there is suffering and neglect. And Hanwha is going to fulfill its social responsibilities as a corporate leader with the philosophy of ‘Going Further Together’

Headlines for February 2017
  1. 1. Hanwha Group - Held a New Year ceremony for 2017
  2. 2. Hanwha Group - Participated in the World Economic Forum held in Davos, Swintzerland from January 17th to 20th
  3. 3. Hanwha Engineering & Construction - Collected $598 million from the Iraqi government for the Bismayah new city development project
  4. 4. Hanwha Group - Donated $2.6 million to Community Chest of Korea as part of social contribution activities
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