A Seoul court has dismissed a lawsuit filed by Hanwha Solutions seeking to reject fines placed on it over its alleged involvement in unfair trading practices with HanExpress, a logistics and shipping firm headed by an older sister of Hanwha Group Chairman Kim Seung-yeon.
Hanwha Group will sign a main contract to acquire Daewoo Shipbuilding & Marine Engineering (DSME) this week, according to industry officials, Sunday. If the acquisition process is completed in the first half of next year as scheduled, the reorganization of Hanwha Group s business structure centering on the two pillars of defense and eco-friendly energy is expected to be completed.
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.