Chairman's Message Commemorating
Hanwha Group's 65th Anniversary

Seung Youn Kim, Chairman

Beloved members of the Hanwha family,

Today, we've taken another step forward, building on the proud history of the Hanwha Group. Our last
65 years has been a time of both challenges and innovations that are perhaps best described in a famous 14th century historical novel, “found a way through, when confronted by mountains, and bridged to the other side, when blocked by a river.” The legacy we've created was the fruit borne of our collective efforts of our companies and employees worldwide. For this and more, I extend my heartfelt gratitude to our business partners, customers, shareholders, and the people of Korea.

Sixty-five years ago, our dream began in a corner of a dilapidated factory in near ruins. Despite lacking resources, experience, and capital, we persisted tirelessly, opening a new chapter in our lives. As our story unfolded, we refused to set our sights on financial gains but instead devoted ourselves to pursuing
a greater cause – to contribute to society and nation through business—a truly advanced and lofty goal at the time.

Today, we are faced with a vast wave of transformations whose magnitude we find hard to grasp:
General Electric is selling off its iconic light-bulb business dating back 125 years and companies like Google and Apple continue to transform themselves by crossing over industries and making inroads into
electric vehicles and solar energy.

Now, we need to once again become pioneers for a more dynamic future by reviving the kind of start-up spirit that established Hanwha. Especially now, in the midst of the fourth industrial revolution, we must not stop at simply finding new opportunities but move on to generating creative values.
To this cause, we must seek in ourselves, a youthful Hanwha and cultivate the kind of DNA that drives a
new-born enterprise with enthusiasm and to innovate – the kind that has made us great for
the last 65 years.

Dear members of the Hanwha family,
Our nation's desire for a new Korea is as fervent as ever. And we must respond to it in earnest by breaking away from the old paradigm and changing our mindset to pivot into a completely new direction.
As we embrace the new era, let us establish a new order and discipline in the Group and ponder over the roles and responsibilities that befit our 65-year legacy.

What will remain unchanged is our goal to fundamentally improve the quality of life and contribute to a sustainable world through our businesses. We will stay at the forefront, identifying and resolving the many issues that society faces around the environment, energy, safety, and human rights. We will work with our customers, business partners, and the communities in cooperation and pursue win-win growths by going further together.

We at Hanwha must become an enterprise of sincerity with trust as our unwavering top priority.
We have pursued a corporate culture that never lost the faith people have given us, even if we lost everything else. It was this sincerity that has driven us to rise from the worst crises in the past, such as the explosion at Iri Station and the Asian financial crisis. We've moved people and changed their hearts.
We built trust by not appealing to the mind but to the heart, and by taking responsibility not with words but through action.

Hanwha's sincerity must continue to be integral to our businesses, products, and services. As a company, we need to be mindful of our responsibilities, putting righteous values before profit and our conscience before practical interests. We must continue extending this sincerity to our customers, the society, and the nation as we have in the past 65 years. Because it has indeed served as the foundation for Hanwha's philosophy of serving the country through business and will help us as we aspire to become a true
world-class enterprise.

On this anniversary of our foundation, I hope that each and every Hanwha employee will demonstrate new determination – one that will build on a culture of mutual respect and consideration between the labor and the management, transparency and fair trade, and of ethical responsibilities and practices.
In so doing, we will always take the paths to create more opportunities for a better world. I ask our presidents and CEOs of our affiliate companies to demonstrate a sense of responsibility for the long-term by laying the groundwork for the company's future growth and value. Manpower, technology, culture, and other software competitiveness have to be brought up to a global level, too.

Dear members of the Hanwha family,
Some predict that 40 percent out of Fortune Global 500 companies will disappear in the next ten years. Continuing to overcome challenges and pursuing innovation with eyes on the future is not only necessary in our current times but they must be done with enthusiasm. So, let us meet these historic raging waves of change head on, and welcome this new era. And we'll do so with a burning passion in our hearts that will lead the change in our world.

Thank you.

October 09, 2017
Chairman Seung Youn Kim

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