Hanwha Advances CEO Appointment by One Month... "Planning Next Year's Business Strategy in Advance"

Eo Seong-cheol, Nominee for CEO of Hanwha Systems

[Asia Economy Reporter Choi Dae-yeol] Hanwha Group announced on the 26th that Eo Seong-cheol, head of Hanwha Systems' defense division, has been promoted from vice president to president and appointed as the new CEO. Nam Yi-hyun, who was serving as vice president and head of the PO division in Hanwha Solutions' Chemical division, was also promoted to president and appointed as the new CEO. Hong Jeong-pyo, vice president of Hanwha Life's Strategy division, was appointed as the CEO of Hanwha Savings Bank.

In addition, Kim Hee-cheol, CEO of Hanwha Solutions Q CELLS division, was appointed as the CEO of Hanwha General Chemical. Lee Gu-young, CEO of Hanwha Solutions Chemical division, will move to become CEO of Hanwha Solutions Q CELLS division. Each company’s CEO appointed in this personnel reshuffle will be finally confirmed through shareholders' meetings or board of directors' meetings. Choi Kwang-ho, CEO of Hanwha Construction, was promoted to vice chairman.

Hanwha Group advanced the CEO appointments by about a month compared to previous years. The company emphasized that this was to respond quickly and proactively to the rapidly changing business environment. Typically, the second half of the year is when next year’s business strategies are formulated, but the group intends to organize the new leadership early to prepare business strategies ahead of time.

Hanwha stated, "We appointed outstanding personnel as new CEOs to strengthen business competitiveness and establish mid- to long-term strategies to secure future markets, aiming to build a foundation for sustainable growth."

Nam Ihyun, CEO nominee of Hanwha Solutions Chemical Division

Appointee Eo Seong-cheol previously served as head of Hanwha Aerospace’s aircraft engine business division and head of Hanwha Systems’ management support division. He was highly evaluated for leading company transformation by concretizing new business models in satellite communications, unmanned and smart defense sectors. Hanwha Systems is involved in the overall future businesses designated by Hanwha Group, including urban air mobility and aerospace.

Appointee Nam Yi-hyun, originally from Hanwha General Chemical, is recognized for outstanding expertise and extensive overseas new business experience. The company explained that appointee Hong Jeong-pyo is also a financial expert with strengths in digital finance and business linkage. Appointee Kim Hee-cheol is regarded as a global strategist in the chemical and energy sectors. CEO Lee Gu-young has led the expansion of overseas sales since Hanwha began its solar power business. CEO Choi Kwang-ho was acknowledged for improving sales and profits, restructuring business operations, and promoting eco-friendly new businesses.