Hanwha Group's Management Succession Begins in Earnest... Who Is Kim Dong-kwan, President of Hanwha Solutions?

[Asia Economy Reporter Park So-yeon] Kim Dong-kwan (37), the eldest son of Chairman Kim Seung-yeon, was promoted to CEO of Hanwha Solutions, which the business community interprets as a signal that Hanwha Group's management succession is beginning in earnest.

On the 28th, Hanwha Group made early personnel appointments for the heads of 10 affiliates with the intention of proactively responding to the 'post-COVID' era.

Kim Dong-kwan was appointed president just nine months after taking on the roles of head of the strategy division and vice president when the integrated corporation Hanwha Solutions was launched in January this year.

Kim is the eldest of Chairman Kim Seung-yeon's three sons and the first in line for succession. Born in 1983, Kim graduated from the prestigious private St. Paul’s School in the U.S. and Harvard University with a degree in political science. He joined Hanwha Corporation, the holding company of Hanwha Group, as a deputy manager in 2010. He has held positions such as head of planning at Hanwha SolarOne China, head of strategic marketing at Hanwha Q CELLS, head of sales at Hanwha SolarOne, executive director at Hanwha Q CELLS, and vice president at Hanwha Solutions before his recent promotion to president. The business community views this personnel move as the formal start of Hanwha Group's management succession. A Hanwha Group official said, "He has taken a step further from being a registered executive to becoming a CEO," adding, "We expect more weighty management in terms of responsible leadership."

Among third-generation chaebols, Kim Dong-kwan has a relatively good reputation. Although he followed an elite path as a Harvard graduate, he has been often seen interacting casually with employees and traveling alone on overseas business trips without an entourage. In October 2018, he married his longtime girlfriend, whom he met through an in-house couple relationship, in Italy. His strong overseas network is also considered an advantage. Since 2010, Kim has been a regular member of the Swiss Davos Forum. He has secured new growth engines by holding dozens of business meetings annually with global leaders. He is responsible for the future of the group’s traditional businesses such as chemicals, solar energy, materials, explosives, and defense. Particularly, he is known as the 'solar evangelist' due to his strong attachment to the solar business. Early on, he recognized the growth potential of renewable energy and developed Hanwha Q CELLS (the solar business division brand of Hanwha Solutions) into the largest solar company in Korea. Having experienced the global market early, Kim Dong-kwan holds a management philosophy that agile change beyond the framework of large corporations is necessary to survive in the rapidly changing global competition.