Hanwha Corp. appointed independent director Kwon Ik-hwan as its new board chair Wednesday. Hanwha Solutions has had an independent director serving as board chair since 2024.
Kwon, a former senior prosecutor who joined Hanwha Corp.'s board in 2022, has served on the company's internal transactions, audit and ESG committees.
Hanwha Systems and Hanwha Ocean are also moving forward with similar appointments, with plans to complete the process in October and November, respectively.
Hanwha Aerospace and Hanwha Engine aim to appoint independent board chairs in the first half of 2027, following adjustments to their board structures in response to changes in corporate law.
Alongside the appointments, Hanwha plans to establish special advisory committees composed entirely of independent directors to review major decisions involving potential conflicts of interest among shareholders or significant public concern.
The group will also establish dedicated board secretariats to support board operations and provide directors with information needed for independent decision-making.
"These measures respond to public calls for a greater role for boards of directors and reflect our decision to place the highest priority on enhancing shareholder value," a Hanwha Group official said.
"We will strengthen our competitiveness in global markets by advancing our corporate governance and continue to build investor confidence," the official added.
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