Kim Dong-kwan, the chairman’s eldest son and vice chairman of Hanwha Group, will be promoted to senior vice chairman. Kim Dong-won, the second son and president of Hanwha Life, will become vice chairman, while Kim Dong-sun, the youngest son and vice president of Hanwha Vision, will be promoted to president.
Hanwha said Kim Dong-kwan led the group’s defense, maritime, aerospace and energy businesses, driving rapid growth in global markets and successfully carrying out large-scale strategic projects.
Kim Dong-won was credited with leading digital innovation and global expansion in the group’s financial business, while Kim Dong-sun was recognized for expanding Hanwha’s retail, leisure and food and beverage businesses, as well as producing results in advanced industries, including the semiconductor equipment market.
The promotions come as Hanwha moves to expand business capabilities across key sectors. They also come after shareholders approved a plan to split Hanwha Corp. into a surviving company covering defense, shipbuilding, maritime, energy and financial businesses, and a newly created company covering tech and lifestyle businesses, a move seen as further clarifying the group’s third-generation succession structure.
Lee Boo-hwan, head of Hanwha Aerospace’s guided weapons business, was named CEO nominee for Hanwha Aerospace’s business division. Hanwha said he will focus on expanding the company’s overseas defense business.
The leadership change at Hanwha Aerospace comes after an explosion at the company’s Daejeon plant last month killed five people and injured two others.
Yang Ki-won, CEO of Hanwha Impact, was named CEO nominee for Hanwha Systems. He is expected to lead the company’s global expansion in space and defense.
Kang Jung-hoon, head of Hanwha TotalEnergies’ Daesan plant, was named CEO nominee for Hanwha Impact’s business division. Hanwha said he will focus on improving cost efficiency and profitability.
Lim Dong-jun, head of Hanwha Asset Management’s strategic business unit, was named CEO nominee for Hanwha Asset Management. He will lead efforts to expand the company’s global and alternative investment businesses.
Kim Ki-chul, CEO of Hanwha Vision, was named CEO nominee for Hanwha Semitech and will lead both companies. Hanwha said he will focus on expanding the semiconductor equipment business.
The nominees will be formally appointed after approval at shareholders’ meetings and board meetings at each company.
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