Press Release Hanwha Group Retail & Services

Chairman Seung Youn Kim Met Former President of The Heritage Foundation Edwin J. Feulner, Jr.

February 5, 2016
  • Discussed issues in international politics including the U.S. presidential election and bilateral economic issues as part of a non-governmental interchange
  • Explained about Bismayah New City Development Project of Hanwha

Hanwha Group Chairman Seung Youn Kim (right) and Chairman of the Asian Studies Center of The Heritage Foundation (former president of The Heritage Foundation) Edwin J. Feulner, Jr. (left)

Hanwha Group Chairman Seung Youn Kim met Chairman of the Asian Studies Center of The Heritage Foundation (former president of The Heritage Foundation) Edwin J. Feulner, Jr. at the Group headquarters on February 4 to discuss an array of issues, including Korea-U.S. economic relations, prospects on the U.S. presidential election, the current situation on the Korean Peninsula as well as Hanwha Group's key businesses, as part of his efforts to pursue non-governmental diplomacy.

Chairman Feulner displayed particular interest in the Bismayah New City Project (BNCP) in Iraq, the first and the biggest city development project throughout the history of Iraq through which Hanwha will build 100,000 residential units on a total area of 1,830 hectare. Chairman Kim remarked, "BNCP is progressing safer and more smoothly than at any other site. Besides apartment complexes, we have been building urban infrastructure, including shopping centers, since early 2015."

Chairman Kim and Chairman Feulner, former president of The Heritage Foundation, have maintained a strong bond that has lasted decades, especially through dialogue on Korea-U.S. relations and the international economic and political orders as well as cooperation in non-governmental interchanges.

Founded in 1973, The Heritage Foundation is one of the most influential conservative think tanks in the United States, developing policies on politics, economy, foreign affairs, and national security. As the foundation's former president, Chairman Feulner is considered one of the most prominent power elites who have influence on America's political circle.

In 2011, to thank Chairman Kim for his contribution to bilateral non-governmental diplomacy, the foundation named the conference center on the 2nd floor of the Heritage Foundation Pennsylvania Avenue Building in Washington, D.C., the "Kim Seung Youn Conference Center."

Hanwha Group

Founded in 1952, Hanwha has grown quickly by anticipating and responding to changing business environments with a balanced business portfolio that includes energy & materials, aerospace, finance and retail & services. Our expertise and synergy in key areas have catapulted us into the seventh-largest business in South Korea and a Fortune Global 500 company. Hanwha continues to grow rapidly as we strive to pursue global leadership in all of our businesses. We are building a robust foundation for sustainable development and a brighter future for everyone.

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