Kim Dong-gwan, Hanwha President, "Want to Expand Korea-US Economic Alliance to Solar Power"

[Asia Economy Reporter Hyunseok Yoo] Kim Dong-kwan, President of Hanwha Solutions, stated, "We want to expand the economic and technological alliance between Korea and the United States to the solar energy sector."

At the Korea-US Business Roundtable held at the Grand Hyatt Hotel on the 21st, President Kim said, "This is to reliably supply high-quality energy to the people of Korea and the United States and to establish a supply chain with a low carbon footprint and guaranteed transparency."

In response, U.S. Secretary of Commerce Gina Raimondo said, "I agree on the need to strengthen cooperation and will actively consider it."

Accordingly, there is anticipation that the economic cooperation between Korea and the U.S., currently being promoted in semiconductor and nuclear power sectors, will expand to the solar energy field.

Attention is also focused on the possibility of passing the Solar Energy Manufacturing Act (SEMA), which provides tax credits for solar products produced in the U.S. SEMA has passed the U.S. House of Representatives and is currently under review in the Senate.

Hanwha Solutions has been supplying products to the U.S. solar market for over a decade. In particular, since January 2019, it has operated a 1.7GW solar module factory in Dalton, Georgia, expanding sales in the U.S. domestic market.

Earlier this year, Hanwha Solutions acquired the U.S. polysilicon company REC Silicon, building a 'solar energy value chain.' Recently, it announced plans to invest 200 billion KRW in a U.S. module production line to build a 1.4GW solar module factory.