[New Year's Address] Kim Seung-yeon "We Must Grow Sustainable Businesses Only Hanwha Can Do"

"Acquisition of Daewoo Shipbuilding & Marine Engineering... A Time for a New Organizational Culture"

Seung-yeon Kim, Chairman of Hanwha Group. Photo by Hanwha Group

[Asia Economy Reporter Choi Seoyoon] Kim Seung-yeon, Chairman of Hanwha Group, emphasized, "We must build a sustainable business portfolio that only Hanwha can create and must lead both the present and the future."

In his New Year's address on the 2nd, Chairman Kim stated, "The defense and energy businesses that we have nurtured with responsibility over a long period have become essential for the nation's survival and require self-reliance."

He added, "The acquisition of Daewoo Shipbuilding & Marine Engineering should also be developed into a global major business that leads regional communities and national development, with the responsibility of fostering a business that represents the country."

He said that Hanwha must also reinvent its organizational culture to match the new business portfolio. Chairman Kim said, "Including the acquisition of Daewoo Shipbuilding & Marine Engineering, it is time for a new organizational culture that can support future-oriented management activities such as continuous new business expansion and business restructuring. To equip ourselves with the world's best capabilities suited to the diversified businesses, regions, and human resources, we must innovate our working methods and establish a flexible organizational culture."

He continued, "Difficult times demand selection and concentration from companies. Especially in challenging times when it is easy to focus only on immediate realities, we must not hesitate to make bold investments to strengthen our fundamentals while securing future growth engines and core competencies."