We create a win–win ecosystem that shares values
Hanwha believes employees, business partners, customers and communities are all key stakeholders who share values in a win–win growth ecosystem. We respect the rights of our employees and their work–life balance as we pursue shared growth through win–win cooperation with business partners. We not only provide fulfillment and build a reputation by creating value for customers but also lead change by helping to solve issues in the community. Moving forward, we will keep striving and cooperating to attain sustainable and inclusive growth and to enhance the lives of all stakeholders.
Talent with creative and passionate minds is our most important asset. As the foundation for Hanwha’s development and success, innovative talent empowers our sustainable growth. We nurture our employees by operating fair and sound personnel and education programs to help them grow into globally recognized talent with challenging spirits, dedication and integrity. In addition, we respect individual rights and diversity and create a flexible organizational culture and healthy environments so employees can develop and achieve work–life balance.
Nurturing top talent
Hanwha is boldly investing in a well–grounded personnel system to recruit and nurture talented people who can lead Hanwha into becoming a 100–year–old company. We develop global talent with professionalism by providing a range of training programs for specific jobs and positions. Our Hanwha Pre Manager Program for all new Group employees provides education programs to instill job competency and loyalty. To develop Hanwha’s potential future CEOs, we sponsor EMBA programs for team leaders and AMP (Advanced Management Program, a CEO course from the world’s best programs) to executives. Our Global Talent Program encourages employees with potential and interests in global business by providing relevant education and opportunities to work overseas. Through our Regional Specialist Program, we send associate and junior managers around the world to become local experts by experiencing the business and culture of other countries.
Creating a flexible
and healthy organization
Hanwha’s companywide work–life balance policies are designed to improve an employee’s quality of life. We introduced corporate culture initiatives such as flexible shifts with varying work types and times; earning a one–month sabbatical after promotions; mandatory one–month paternity leave for male employees within three months of the birth of a child; and study leave and support for career development. In addition, each affiliate operates a differentiated benefits system depending on the characteristics of its business. We also work to gain community trust by promoting safety and creating safe workplaces as part of our corporate culture. We actively work to prevent accidents by requiring everyone to follow a strict set of rules and safety policies and to observe leading industry indicators for occupational safety. Along with regular safety inspections and safety education, we strictly manage training programs to respond to emergencies and establish a culture of safety.
Respecting human rights and diversity
Hanwha actively supports and complies with human rights policies at home and abroad, including the ten principles of the UN Global Compact. Respecting diversity, we do not discriminate based on gender, race, nationality, place of origin or religion. To prevent sexual and workplace harassment and raise awareness of human rights, we provide human rights education to all employees and regularly conduct human rights impact assessments to avoid human rights risks in advance. We introduced programs that respond to workplace grievances, resolve grievances through counseling and prevent recurrences, such as the Hanwha Solutions Chemical Division’s Hotline and Hanwha Aerospace’s Smart Grievance Handling Center. Our family–friendly programs include maternity benefits and family–friendly company certification to create a better workplace for women.
Hanwha respects the rights of all stakeholders worldwide and strives to provide working environments in which employees support diverse values. We actively support and comply with human rights policies at home and abroad, including the ten principles of the UN Global Compact. With respect for diversity, we do not discriminate based on gender, race, nationality, place of origin or religion.
To raise awareness of human rights, we provide rights education to all employees and regularly conduct human rights impact assessments to avoid such risks in advance. We introduced programs to respond to workplace complaints and resolve grievances through counseling designed to prevent recurrences. Our family programs include maternity benefits and family-friendly company certification to support better workplaces.
Our philosophy of “Going Further Together” in a spirit of “trust and loyalty” extends to our partner companies. Through our collaborations, we seek to ensure mutual growth rather than competition. With small– and medium–sized business partners, we encourage best practices in management and help foster self–sufficient environments. We also offer support through a variety of programs for employee rights and the working environments of partner employees as we build a sustainable foundation for the entire supply chain.
Commitment to fair trade and shared growth
Since 2009, Hanwha has fostered collaborative partnerships with over 1,500 small– and medium–sized enterprises. With our Shared–Growth and Fair–Trade Agreement, we help grow small hidden champions by strengthening core competencies, promoting shared growth and offering guidance to engage in fair trade practices.
Supporting partners’ management through co–prosperity funds
We created an annual co–prosperity fund of USD 175 million and earmarked a private equity fund of USD 175 million for these mutually beneficial partnerships. The funds allow partner companies to obtain low–interest– rate loans. We also support business partners’ stable financial operations by increasing cash payments, making early payments for traditional holidays and offering performance sharing programs to selected affiliates.
Building winning partnerships
In our frequent work with partner companies, we have put our “Going Further Together” belief into practice by engaging in joint businesses, exchanging technology, sharing information and offering exemptions from performance guarantees. We are increasing industry–specific programs to help partners become more competitive as they expand domestic and international sales networks. We also support their management innovations and equipment purchases while assisting them in best practices for safety, process, environment and quality controls. In addition, each affiliate holds regular meetings for partners to enhance mutual trust through close communications.
Improving supply chain sustainability
Hanwha strives to enhance the importance of sustainability throughout the supply chain by supporting supplier sustainability management. By providing ESG–related education and with consultations from each affiliate, we are helping ESG management in partner companies. We further support their safety and environmental management to prevent industrial accidents and promote employee health. In addition, we are providing training programs to strengthen the competencies of partner employees.
Customers are Hanwha’s biggest reason for being. We continue to exist and grow by constantly creating value for our customers. We prioritize a long–term relationship of trust with our customers in all our business processes of planning, producing, publicizing and providing products and services. We will become the most trusted company by all customers by providing high–quality products and services, including eco–friendly products, by protecting consumer rights and interests and by supporting people who have lesser access to information or financial services.
Protecting consumer rights
Using our well–planned system tailored to the characteristics of each business, we actively protect consumer rights and interests. Hanwha Life performs a consumer impact assessment to verify whether the development or sale of a product is likely to infringe on consumer rights. The company also enacted a Financial Consumer Protection Charter and set up related principles. All employees and financial planners make online pledges to conform to the charter, affirming their resolve to offer products and services while protecting consumer rights. Hanwha Investment & Securities continues to improve consumer protections by refunding sales commissions when a product is canceled owing to a simple change of mind and guaranteeing a complete return for any misleading sales. By building an excellent system to protect consumer personal and financial information, the company earned the Information Security Management System (ISMS) certification from the Financial Security Institute in 2018. In recognition of those efforts, Hanwha Life, Hanwha General Insurance and Hanwha Investment & Securities also obtained the Consumer–Centered Management (CCM) certification from the Fair Trade Commission and the Korea Consumer Agency.
Supporting accessible financial services
Hanwha’s financial affiliates provide a range of support as part of customer–centered management. Hanwha Life offers easily accessible outlets for those who have difficulty receiving services, such as a phone number for the disabled and priority connection service for the elderly. In addition to also having a number for the disabled, Hanwha General Insurance operates Smile Care Desk service, with dedicated staff along with a call bell at branches so elderly and disabled customers may receive financial services without any physical barriers. We developed a mobile insurance claim guidebook for those who are not adept at digital services. Our Service Idea Contest for the Digitally Vulnerable lets consumers propose ideas that we may select to develop more consumer–friendly insurance services.
As background to our founding philosophy of “fostering social growth and prosperity through our business” and the Hanwha spirit of trust and loyalty, we build solid trust through close cooperation with communities. By pursuing our social contribution philosophy of “Going Further Together,” we strive to fulfill our social responsibilities as a global corporate citizen. To create shared value with various members of society, including communities, we utilize our core technologies and resources in a range of social contribution activities, including talent development, culture and the arts, active donations and volunteer activities.
Hanwha Science Challenge
Since 2011, we have sponsored Hanwha Science Challenge, South Korea’s largest high school science competition, which is aimed at discovering and nurturing outstanding students in science. This event gives young students opportunities to explore their scientific quests. It represents the dream stage of embracing challenges and inspires future science prizewinners. High school students and teachers with interest and talent in science may participate as a team. With the theme of Saving the Earth and envisioning a sustainable tomorrow, we encourage students to explore and understand the science behind global environmental issues, such as sustainable energy, disease, famine, climate change and water shortages. Finalists receive special benefits, such as exemption from credential screening when applying for a job at Hanwha Group. Winners of each year’s challenge are awarded top national scholarships and the opportunity to take overseas trips to leading engineering colleges, scientific institutions or Hanwha’s global business sites to gain new perspectives on the subjects they are studying.
Hanwha–KAIST Science Outreach Program
In 2016, we began hosting the Hanwha–KAIST Science Outreach Program, a science education program for middle school students who have a special gift in science. Through this program we help support and advance young students’ skills and ambition in science and engineering. KAIST students serve as mentors and provide online and offline science, math, coding and software classes for first two grades of middle school in Daejeon, South Korea. We also operate field programs, such as cultural experiences and business site visits so students can broaden their experiences. Mentors provide not only academic help to students, but also emotional support for growing together.
In 2022, in an alliance with KAIST (Korea Advanced Institute of Science and Technology), Hanwha Space Hub launched Spacekids, a South Korean version of the NASA STEM Engagement program. Designed to advance talent to lead the new aerospace era, the project is an experiential space education project for middle school students with the theme of “science plus humanities.” The main program is the Space Mission Project course, which combines science, technology, engineering and mathematics tailored for middle school. In addition, a two–month Space Humanities Conference course develops student creativity and imagination. Professor Sang Wook Kim of the Department of Physics at Kyunghee University, Professor Jeong Jae-seung of the Department of the Bio and Brain Engineering at KAIST and Professor Paul Yun, a NASA Solar System Ambassador lead space humanities courses. A total of 30 middle school students were selected as the first class of Spacekids, after screenings and interviews by the KAIST faculty, and the first session launched in July 2022. After six months of training through December, benefits such as a certificate from the KAIST President, a session pass for the KAIST Center for Gifted Education and one–on–one expert career consulting are also awarded. Students with outstanding performance are given the opportunity to take overseas trips.
Hanwha Life DREAMPLUS
An open innovation hub, Hanwha Life’s DREAMPLUS identifies and encourages startups based on core values of connection, sharing and collaboration. We provide comprehensive solutions from the business establishment and acceleration to global expansion through the startup life cycle. Our DREAMPLUS Fintech Center and DREAMPLUS Gangnam Center provide co–workspaces for early startups. Through open innovation activities, we also help entrepreneurs to continuously discover new business and investment opportunities with various partners. DREAMHAUS is our shared housing program designed to provide more housing options for young generations and set a foundation for them to grow and achieve their dreams. We recruit residents every year and provide a complex living space and customized education programs.
Hanwha Life Economics Class
To help children and youth improve financial literacy skills, Hanwha Life operates the Hanwha Life Economics Class. We offer content jointly developed by the Financial Supervisory Service and Hanwha Life. We educate students with actual cases concerning basic financial knowledge and upright financial habits so they can learn and practice in real life. Financial experts with work and teaching experience were selected as lecturers. We began by giving priority to women who had lost jobs in 2021 when hiring lecturers in order to help create jobs for women. The 30 selected lecturers disperse financial information and knowledge to over 10,000 students of 300 classes at 281 elementary and middle schools around the country for a year. For students who had limited face–to–face learning due to COVID–19, we added real–time online education for better access.
Culture and Arts
Orchestra Festival with Hanwha
As a firm supporter of arts and culture, Hanwha has been the sole sponsor of the annual Orchestra Festival since 2000 in partnership with the Seoul Arts Center. We provide performance opportunities to local symphony orchestras, senior classical musicians and next–generation prospects, and support classical music for public audiences to enjoy. Our sponsorship for over 20 years helped the Orchestra Festival become South Korea’s largest classical music event and one of most recognized corporate–sponsored arts programs.
Our Hanwha Classic has performed classical music since 2013. We have planned and hosted the annual music festival to provide quality performances for South Koreans. In planning the program, we focus on inviting artists and performers who specialize in classical music to present unique performances. Every year, we invite baroque music specialists from all over the world, including Germany, Italy, the Netherlands, France and the UK, to deliver their in–depth impressions to music lovers with high–quality performances and audience–friendly introductions to music.
Seoul International Fireworks Festival with Hanwha
Since 2000, we’ve sponsored the Seoul International Fireworks Festival each fall. With the slogan “Sharing Hope through Fireworks,” this has become a flagship Seoul cultural festival featuring a thrilling spectacle of light and energy, including the fireworks, cultural performances and experiential events. Every autumn, we host the event with the world’s leading fireworks technology companies. Since its debut, the festival has wowed over a million spectators, providing unforgettable memories for families and friends. Each year, Hanwha colleagues volunteer to help make the festival a safe and orderly event.