Hanwha Co., Ltd. Participates with 400 Billion KRW in Hanwha Solutions' Capital Increase

[Asia Economy Reporter Hwang Yoon-joo] Hanwha Corporation held a board meeting on the 19th and resolved to participate in a paid-in capital increase worth 1.4 trillion KRW (31,414,000 shares) conducted by its major subsidiary Hanwha Solutions to invest in eco-friendly future businesses.

As the largest shareholder of Hanwha Solutions, Hanwha Corporation will invest approximately 400 billion KRW, corresponding to its 37.2% stake (common shares basis) in Hanwha Solutions. This is the largest paid-in capital increase ever participated in by Hanwha Corporation. The funding will utilize available cash reserves and other resources.

Hanwha Solutions completed the allocation of new shares today according to the paid-in capital increase plan announced last month.

Including the proceeds from this capital increase, Hanwha Solutions plans to invest 2.8 trillion KRW over the next five years in next-generation solar power and green hydrogen businesses. Through this, the company aims to achieve sales of 21 trillion KRW and operating profit of 2.3 trillion KRW by 2025, establishing itself as a global "total energy solution" company.

Ok Kyung-seok, Chairman of the Board of Hanwha Corporation, stated, "We will continue to increase investments in the Green New Deal sector to realize sustainable future growth and enhance shareholder value."