Chairman’s Message Commemorating
Hanwha Group’s 67th Anniversary

Seung Youn Kim, Chairman

It’s a new morning on the day of Hanwha Group’s 67th anniversary.

Under the expansive skies of fall, you can almost feel the intensifying change of the season. Everything in the world changes as the law of nature intends. The same rings true in our lives and in our business.

The law of all things dictates that as we change, we grow through learning and experiences gained over the course of successes and failures. In the last 67 years, Hanwha has learned from its myriad of experiences and lessons. It has continuously evolved, stronger than before. Many companies can’t weather great crises like the 1997 Asian Financial Crisis while Hanwha has emerged from it, ever stronger due in no small part to its enduring commitment to its employees and their remarkable resilience. The Hanwha of today was built upon its strength to rise from the darkness full of difficulties to embrace the light that is full of hope.

I would like to express my deepest gratitude to all of you at Hanwha. Over the years, you’ve been my faithful colleagues through the difficulties.

Now, we find ourselves, once again, amidst change that is sweeping the globe. This is the time to reflect on how those who’ve come before us have achieved success even during the most difficult periods. Let us draw strength and inspiration from them to step up and take an active role to address uncertainties in this rapidly changing economic climate that is sweeping the world. This is the time we must reawaken the spirit of our foundational days. We must inspire people’s dreams, and elevate ourselves to be a company that gives strength to our society. As long as we believe that “the darkest night can be conquered by the faintest light,” we can overcome these troubling times together.

Dear Hanwha Family!

We must be tireless in bringing about a new dawn for Hanwha.

Innovative start-ups are disrupting the existing industrial ecosystem. They are using extraordinary ideas and technologies to usher in the digital age and redefine what success means in this global economy. In just one year, these companies may experience as much growth as other companies do in ten. Hanwha did this 67 years ago when we paved the path to a future no one could have imagined. The history of challenges—starting with locally producing gunpowder—which each of our business units have overcome, is a great source of pride and has laid the foundation for the Korean economy. We must do this once again and make history.

And to make this new history, it is imperative that we undergo a paradigm shift to change our ideas and perceptions to move forward in this new era. We must challenge the status quo and innovate as if we were pioneers in a new world. It all starts now, at the dawn of this new day. We will discover new business opportunities, open new markets, secure talent, and improve synergy between our businesses. The endless challenge to create new products, technologies, and value the world has never seen before will open up the future for Hanwha and make us an indispensable company.

Going forward, we must change from wanting to be the eternal victor to becoming the eternal partner.

Ultimately, we must move beyond beating the competition. Rather, let us and build an environment where everyone wins. We must hark back to Hanwha’s original business philosophy of doing business for the good of all. We cannot regard customers and business partners simply as sources of revenue. After all, they are the very reasons we exist. Knowing this, we must implement our investment and hiring plans for the future without delay so that everyone may share in our prosperity.

Let’s work together to do this. Please act with a renewed sense of commitment across all our businesses. Let us continue to excel in what we do across our aerospace business which is unwavering in its commitment to becoming self-reliant in its core technologies, chemical business that underpins much of everyday life and industry, solar energy business which continues to be a global leader in sustainable energy, defense business that embodies the inherent right to national defense, financial business which enriches our customers’ lives with value and wealth, and construction/services business that creates a social infrastructure while providing unique lifestyle experiences. As we seek to develop a sustainable future, we will remain steadfast to our commitment to show the world that we believe we can Go Further Together.

Finally, I ask you all to embrace a “safety first” culture fully with both your hearts and minds.

Going forward, safety must be of paramount importance at each of our Hanwha business locations. No matter how profitable, a business that cannot operate safely, should not exist at all. Every location must be thoroughly examined, adhere strictly to all operational safety rules and regulations and adopt a safety-first culture that seeks perfection. There will be no shortcuts to achieve safety. Not even a one-percent failure rate will be tolerated. Currently, our chemical affiliates are undergoing a digital transformation to create safer working environments while improving productivity. We hope that the safety levels they achieve will set the safety standards for other businesses to follow.

Dear Hanwha Family!

It is said, “Sand may muddy a river, but it can’t muddy the ocean. The wind may uproot a tree, but not a mountain.” No hardship or tribulation can stop Hanwha from advancing. However, let us not focus on short-term gains. Let us set our goal for the long-term and take the big leap forward while anticipating the changes of a new era.

Tomorrow is yet another day, and guaranteed to all. A brighter tomorrow, however, is only guaranteed to those who are prepared.

Thank you.

Seung Youn Kim
October 9, 2019

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