Hanwha Group is in the midst of rebranding its affiliates, causing speculation that the conglomerate has taken preparatory steps for Hanwha Solutions Vice Chairman Kim Dong-kwan, the oldest son of Hanwha Group Chairman Kim Seung-youn, to gain control of the group. SIT, a subsidiary of Hanwha Energy, said Tuesday that it was renamed Hanwha Convergence, with the aim of focusing more on helping its clients to use eco-friendly energies at their factories better. It also appointed Kim Chang-yeon, Hanwha Energy s financial planning team head, as the new CEO.
Korea Aerospace Industries (KAI) has been mentioned as the next acquisition target of Hanwha Group for the conglomerate to become a global defense industry powerhouse going after L.
Hanwha Solutions latest plan to spin off its Galleria division has been interpreted by many as part of efforts to hand over control of the group s retail business to Chairman Kim Seung-youn s youngest son Kim Dong-seon, according to domestic securities analysts, Monday. The company announced last Friday that it will list Hanwha Galleria on the benchmark KOSPI market by March next year after spinning off the department store chain operator.
Hanwha Group will take over debt-ridden Daewoo Shipbuilding & Marine Engineering (DSME) as the two firms signed a preliminary investment deal on a conditional sale, Korea Development Bank (KDB) said Monday. The state-run bank, which is the main creditor and largest shareholder of DSME with a 55.7 percent stake, said Hanwha Group signed a memorandum of understanding (MOU) to acquire a 49.3 percent stake in the ailing shipbuilder.
OFFALY businessman Nigel Reams has said his company s new development in Shannonbridge is a pioneering project in the energy sector. Known as Shannonbridge B, t.