Hanwha Life

Hanwha Life outperforms in asset quality stability, sales, and product development. And we’re moving forward, digitizing our advanced capabilities so we can lead in the financial markets of the future worldwide.

Established in 1946, Hanwha Life is not only a leading life insurance company but also it is the first and oldest in South Korea. Early on, we played a critical role in developing the industry and the country’s economic growth. In 2018, while expanding, we made sure to remain structurally sound, reporting total assets of USD 102 billion. At the end of 2018, we achieved a 212.2 percent risk-based capital (RBC) ratio, demonstrating the soundness of our asset quality. Our strong ratings from domestic and international agencies attest to our creditworthiness. We have received sterling AAA credit ratings from South Korea’s top rating agencies for the past twelve years. We also earned global credit ratings of A1 from Moody's and A+ from Pitch credit rating agencies in 2018.

Hanwha Life is committed to adding innovative products and services that meet a wide range of customer needs. By upgrading our customer, product, and channel (CPC) strategy, we provide customized products and services that solidify our LIFEPLUS brand.

We also innovate by aligning our offerings to customer life stages. Using Big Data to analyze customer needs, behavior, and interests, we systematically apply this knowledge to better satisfy customers. To this end, we’ve trained our customer service professionals at call centers to deliver improved care.

Our efforts have been rewarded with the Grand Prize – the Korea Service Award from the Korea Standards Association in the life insurance sector for eight consecutive years through 2017. We were also inducted into the Hall of Fame. The Quality Index survey, managed by Korea Management Asset Consulting, gave us top ranking for nine straight years for customer service and eight years for our call centers. Since our first certification in 2007, the Korea Fair Trade Commission has awarded Hanwha Life with six consecutive Certifications for Excellence in Consumer-Centered Management (CCM).

To increase sales and profitability, we are focusing on value-based sales, improving product features, and expanding protection- type and variable insurance sales. We are also diversifying our investment assets and applying risk management to aggressively and preemptively respond to changes in the financial market. In 2019, we continue to sharpen our competitiveness in the market by using multi-channels to provide differentiated products and services and by enhancing communications across headquarters, sales reps, and customers. However, in anticipation of changes to the market, we’re upgrading our digital capabilities, product development, digital technology, and our governance- oriented data support.

In the international market, we lead the industry. Our Vietnam subsidiary was founded in 2008, the first of its kind by a South Korea company. With an effective localization strategy and a strong nationwide sales network, we turned a profit in 2016, a first for a South Korean insurer in Vietnam. Our Chinese subsidiary, Sino-Korea Life Insurance, is expanding its sales territory by entering new markets. In Indonesia, our subsidiary is building a balanced profit structure with a long-term perspective. Moving forward, we are setting the foundation to provide digital financial services in major Asian hubs while we pursue non-insurance products and digital financial businesses in Southeast Asia.

In 2019, Hanwha Life continues to secure profitable structures that support value-based sales and primary profit expansion. We plan to expand our global business and secure growth engines in Fintech and Big Data. We push for innovation and, with each success, we’re inspired to drive forward as a world-class life insurance company.

For more information, please visit:

www.hanwhalife.com

Related Affiliates

Hanwha's businesses span chemicals & materials, aerospace & mechatronics, solar energy, finance,
leisure & lifestyle, and construction. Through the integration of our growing number of affiliate enterprises worldwide, we are harnessing the power of sustainable, quality growth to continually increase the value we bring to our customers.

View All Our Affiliates >

Corporate Video | English

//www.youtube.com/embed/rJtPjWsLY4o?autoplay=1

It would be difficult to start talking about Hanwha without two words: trust and loyalty.

These ideas have been the core values of Hanwha since its beginning, and they have acted as a compass throughout its decades.

Founded in 1952, Hanwha began its business by manufacturing dynamite and other explosives during a time of national crisis—when the Korean War was coming to an end, leaving the nation in ruins. Few companies were willing to take on the risks.

“To make explosives, precision is key, since everything must occur at an exact instant, in an exact way,” said Chong-Hee Kim, Founder of the Hanwha Group. “For this kind of control, we must trust one another completely.”

This emphasis on teamwork and precision during Hanwha’s earliest days allowed a strong and unique culture to develop and become forever embedded into our company’s corporate DNA.

During the following years of rapid growth, Hanwha expanded its business into various sectors and regions. Later, it was one of the few companies to survive the Asian economic crisis in 1997 and the global economic crisis in 2008. During good times and bad, the people of Hanwha stood behind our core values of trust and loyalty.

Today, Hanwha is a world leader in solar energy and in construction. We are building an entire city – the largest project currently under construction in the Middle East by a South Korean company.

It is also a major player in the global finance industry, continuously adapting to today’s rapidly changing financial landscapes and providing financial solutions that give customers the freedom to pursue their dreams.

Although many companies talk about the value of trust and loyalty, there is only a few that actually put those ideas into action.

For Hanwha, 'value' always comes first before its business, since Hanwha is focused on how and why the company is walking this path.

Hanwha has a solid reputation for keeping promises with partners and customers, for valuing long-term relationships, and for contributing to society. This is the spirit of Hanwha.

My name is Eddie Jung, and I am the editor of “Hanwha & Hanwha People,” the corporate magazine of the Hanwha Group.

Rather than talking about it, why don’t you meet the actual people of Hanwha and see for yourself?

Chemicals & Materials

Here at one of South Korea’s largest petrochemical facilities in the city of Yeosu, are 2 people who have worked together side by side for over 20 years.

Editor)
Hi guys, it’s so great to see you again. I don’t think you can underestimate the value of working together for 20 years, the way you two have.

Eun jeong Kim)
Hanwha co-workers have tremendous faith in one another. It bonds us, as does the work we’ve done.

Seon-jeong Jin)
Like with personal bonds, chemicals involve fusion.

Eun jeong Kim)
This fusion gives birth to new technology that lays a solid foundation for industry.

Hanwha utilizes economies of scale. Petroleum products, base chemicals, resin, chlorine, caustic soda, and new materials, make up a diverse portfolio of chemicals we produce.

And through a solid collaboration between all workers, our customers can depend on a reliable and stable product supply.

Our goal is to make life easier and more meaningful to everyone.

Seon-jeong Jin)
Based on these petrochemical materials, Hanwha produces a variety of advanced materials.

Our world-class automobile weight reducing materials like StrongLite(GMT) and SuperLite(LWRT), are already being exported to global automakers. These products are supplied through sales networks around the world.

Editor)
Petrochemicals are valuable not only to industry, it’s an important business that raises the quality of life.

I’m proud of the people of Hanwha, who lay the foundation for our lives and for industry.

Aerospace & Mechatronics

Hear at Hanwha’s Mechatronics Research Lab are a father, daughter, and son-in-law. A family of employees that crosses a generation.

Editor)
When we first met, it was just one person…and now there are three.

Jae il Kim)
For two generations to work at this company shows how strongly we believe in this industry and in this company.

Sun hee Kim)
He’s right. Seeing my dad’s work, I realized Hanwha’s mechatronics technology is something to be grateful for.

It does work that a human can’t do, because it’s too dangerous or requires extreme precision. It keeps the industry on the cutting edge, and makes our lives easier.

If this technology keeps improving, one day we’ll live in the world that was once just in our imagination.

As Hanwha endlessly advances in areas such as optronics, avionics, and unmanned vehicles, through its unmatched core technologies possibility becomes a reality, as we take a step closer to the future

Bong kyo Park)
Our goal of using next-generation robotics solutions to create a world of innovation is Hanwha’s core desire to give people a safer and more convenient future.

Even today, Hanwha continues to advance its technology so everyone can enjoy a better life.

Solar Energy

Land that was dying from pollution and contamination, has now been transformed into a sustainable energy facility. The Maywood Solar Farm (Indiana, USA)

(Editor)
Dr. Christoph, great to see you again. It looks like you’ve taken a dying plot of land and given it a whole new life.

Dr. Christoph)
We can’t give up, can we? We need to protect the planet we’re living in.

Solar energy is a sustainable solution that transforms the way people produce and use energy. We’re in the business of using what the planet provides to its full potential.

Hanwha is the world’s leading producer of photovoltaics, with the world’s largest in-house cell production capacity.

We operate a strategically diversified manufacturing footprint that gives us a significant competitive advantage.

Editor)
And it’s just not cells. Hanwha is providing comprehensive solutions that cover the entire value chain from polysilicon to ingots, wafers, and modules and downstream businesses.

Dr. Christoph)
You’re absolutely right. At the technology innovation center in Germany, we constantly research ways to produce state-of-the-art quality products, which go through rigorous quality controls to substantiate the reliability and efficiency.

The global presence and trust that Hanwha Group has earned, its economies of scale, Hanwha Q CELLS’ unrivaled technology and efficient operation, all help Hanwha’s solar energy business in Europe, in Asia, in America and around the world stay intact and keep clients satisfied.

We believe that solar energy is the best solution for several major problems facing our planet, such as climate change, energy depletion, and energy poverty. We’re on a mission to make solar energy the most trustworthy source of sustainable energy in the world.

Editor)
Solar power is more than just an energy solution. It’s an endeavor that will preserve the earth’s environment for future generations.

Finance

We’re here at Vietnam’s financial mecca, Ho Chi Minh City! Hanwha’s financial affiliates are placed all over Asia, demonstrating Korea’s financial strengths.

Editor)
Do you still value trust as highly as before?

Trang)
Of course. Because trust is the backbone of finance. Not only is it a personal belief, but trust and loyalty is a corporate philosophy that Hanwha believes is of utmost importance.

With that foundation of trust, Hanwha has grown to be a global financial business that boasts more than 100 billion USD in assets.

Hanwha has a comprehensive financial network, including life insurance, general insurance, investments, asset management, and savings.

We’re now in Vietnam, China, Indonesia, and expanding into other Asian markets. With all the knowledge that we’ve accumulated for more than 70 years in the financial business in Korea, we’re looking to operate an even more secure, reliable financial system for people around the world.

Editor)
The trustworthiness of Hanwha.

I can trust that Hanwha will make a richer and fuller tomorrow for its customers around the world

Construction

Bismayah, Iraq, known to many as the Miracle in the Desert.I remember once seeing a man so dedicated to his work even in the scorching heat. We meet again.

Editor)
Wow, the scale of this place is really amazing. Where did you find the strength to work in such difficult conditions?

Ali)
The amazing trust that we have with our clients and colleagues is what creates the miracle in the desert, as they say. There’s no way to accomplish what we have with an individual’s skill alone. Trust is the bedrock of this tremendous undertaking.

Building and construction is a business that helps create a new world.

From successfully winning the contract and carrying out the work of building the world’s biggest city development project in Bismayah, Iraq, to the Philippine Arena, the world’s largest domed arena built with cutting edge technology and the construction of the largest precast concrete plant, having worked on a broad range of overseas construction projects over the years, Hanwha has a deep pool of expertise.

Hanwha will continue to make history by physically building a brighter future in every corner of the world.

Editor)
Hanwha continues growth in overseas construction revenue that it achieved in the past three years.

I’m eager to see Hanwha take even bigger strides as a global corporation

Services & Leisure

I’m about to meet two people who are at the forefront of Hanwha’s Services & Leisure business.

Editor)
So nice to see you both again. You look fabulous and of course, you always have a great smile to greet me with.

Yoon jeong Yoo)
Of course! We smile, so our customers will too.

Pil do Kim)
We’re in the business of making people smile.

Yoon jeong Yoo)
If we’re able to make our customers happier, then we can smile together. We’re launching a variety of businesses that make a difference and bring more fulfillment to our customers’ lives.

From the Galleria, a premium department store that leads Korea’s fashion trends, to THE PLAZA, a luxury boutique hotel in the heart of Seoul, and Korea’s largest condominium chain with 12 resorts, aquariums, golf courses, and various other leisure centers, we are one of Korea’s most well-known and respected leisure and lifestyle brands.

Pil do Kim)
You can’t leave out the duty free business where I work. We operate world-class duty free shops in Korea’s top tourist destinations, Seoul and Jeju.

Yoon jeong Yoo)
Hanwha has the largest and finest properties with unparalleled customer service to lead Korea’s lifestyle industry.

Utilizing our longstanding expertise, we are entering China and other overseas markets.

Editor)
That’s why they say Hanwha symbolizes the best of Korea’s services and leisure industry.

And your smiles are world-class.
I hope you never lose them.

Hanwha

Lastly, I’m meeting a man who started as a vendor and now, he makes up a valuable part of Hanwha.

Editor)
Mr. Hong, your first contract with Hanwha was 50 years ago. Do you still remember?

Ki-seok Hong)
I’ll never forget that day when I became part of the Hanwha family. Compared to back then, we’ve grown and come a long way

Editor)
You have. So what does Hanwha mean to you?

Ki-seok Hong)
It’s like a family that you grow with. The relationship that started with me and Hanwha now includes my son. When you give it your best, you get back as much in kind

As a partner of Hanwha, you’re treated like family.
So the partner grows, when Hanwha grows.
It’s a formula where we both grow together.
What I’m most grateful for, is that Hanwha trusts us as partners and treats us like we’re part of one big family.

So when it comes to working with Hanwha, we consider it to be a top priority project for us. It’s a result of the trust we’ve built.

Editor)
The thread that weaves through 60-plus years of Hanwha history is trust.

Our partners are also our family…
It’s a sincere trust and loyalty you’ll naturally sense in Hanwha.

After having interviewed the people of Hanwha,
I realized that today’s Hanwha wasn’t built by the strength of any one individual. The people of Hanwha, are strengthened together by a bond of unwavering trust.

If every encounter, every relationship is precious and builds trust, success is sure to follow. Hanwha and all its partners in a future where we smile together in a relationship that last a lifetime

This is Hanwha’s promise.

The people I’ve met at Hanwha then and now show dedication and passion for their work, and a trust in each other that leads to trust from our customers.

Your Most trusted Partner
Hanwha

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Hanwha Life

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