Hanwha Asset Management Acquires Hanwha Investment & Securities... Accelerating New Business

[Asia Economy Reporter Junho Hwang] On the 25th, Hanwha Asset Management acquired 26.46% (56,761,908 shares) of Hanwha Investment & Securities held by Hanwha Group's non-financial affiliates for approximately 320.1 billion KRW (320,137,160,000 KRW) to secure sole management rights of Hanwha Investment & Securities. As a result, Hanwha Asset Management's stake in Hanwha Investment & Securities increased from 19.63% to 46.08%, becoming the largest shareholder.

Hanwha Asset Management conducted the transaction through off-hours block trading to minimize the impact on the stock market. The shares involved were common stocks of Hanwha Investment & Securities held by Hanwha Global Asset (26,727,398 shares, 12.46%), Hanwha Hotels & Resorts (18,709,207 shares, 8.72%), and Hanwha Galleria Timeworld (11,325,303 shares, 5.28%).

Hanwha Asset Management made a purchase proposal to other shareholders with the aim of accelerating entry into new businesses. Through cooperation with securities firms, it plans to pursue global business and build a digital financial ecosystem. The goal is to become a top-tier asset management company in Asia. It will implement a three-stage growth strategy to expand digital influence, including scaling up assets under management and equity capital, globalizing business areas, and investing in platforms and building a digital ecosystem.

Hanwha Asset Management stated, "Based on the market's continued low-interest-rate environment, increased liquidity, and stronger capital compared to the past, operating profit and net profit in the securities business are expected to increase, allowing Hanwha Asset Management to anticipate equity method gains."