With Saudi Crown Prince Mohammed bin Salman Al Saud visiting Korea, Thursday, the stock prices of local corporations in various sectors saw an upward trend during the day s trading.
Hanwha Group Chairman Kim Seung-youn met with Edwin John Feulner Jr., founder of the conservative American think tank, the Heritage Foundation, and discussed a wide array of current issues, including global economic issues and diplomatic events, as well as ways to enhance friendly relations between Korea and the U.S., the company announced, Wednesday. The dinner meeting took place after Feulner took part in a domestic forum promoting the free market economy and enhancing Korea-U.S. alliance at The Plaza Hotel in Seoul, Tuesday.
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.
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.