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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] On January 14, following its announcement of a corporate spin-off, Hanwha held a conference call to confirm the pre-IPO of Hanwha Energy, emphasizing that there are no plans to merge Hanwha Energy with Hanwha Corporation.
The company clarified that it is not considering a “post-IPO merger” as part of succession planning for Vice Chairman Kim Dong-kwan. Industry observers had speculated that Hanwha might list Hanwha Energy, in which Kim holds a 50% stake, and later merge it with Hanwha Corporation.
Hanwha also stated that there are no plans for major shareholders to restructure their holdings, exchange shares, or sell stakes. Regarding potential additional splits in the financial sector, the company confirmed that no decisions or formal reviews are underway.
Meanwhile, Hanwha Corporation’s board approved the spin-off plan to create a new entity, Hanwha Machinery & Services Holdings, which will include the Tech and Life divisions, while the remaining company retains the Defense, Shipbuilding & Marine, Energy, and Financial divisions.
The newly formed entity will include tech-related subsidiaries such as Hanwha Vision, Hanwha Momentum, Hanwha Semitech, and Hanwha Robotics. Life sector subsidiaries such as Hanwha Galleria, Hanwha Hotels & Resorts, and Ourhome will also be part of the new company, overseen by Vice President Kim Dong-seon, the third son of Chairman Kim Seung-yeon.
The existing Hanwha Corporation will retain Defense, Shipbuilding & Marine, Energy, and Financial subsidiaries, including Hanwha Aerospace, Hanwha Ocean, Hanwha Solutions, and Hanwha Life Insurance. Defense, Shipbuilding & Marine businesses are managed by Chairman Kim’s eldest son, Vice Chairman Kim Dong-kwan, while the financial sector is overseen by the second son, Kim Dong-won.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
