Hanwha Defense Merger Completes Integration of 3 Companies
"Combining Business Patriotism DNA with Innovative Technology for Synergy"
Hanwha Aerospace completed the integration of three companies by merging Hanwha Defense at the end of last year and Hanwha Defense Industry on the 1st, establishing a unified corporation. This laid the foundation to grow as a ‘global top-tier innovation’ company responding to worldwide geopolitical crises and climate change, representing South Korea’s leading aerospace, space, and defense enterprise.
Hanwha Aerospace announced on the 3rd that it held a ‘New Vision Townhall’ event at the Hanwha Building in Jung-gu, Seoul, to announce ‘New Challenges, New Beginnings.’
Kim Dong-kwan, Vice Chairman of Hanwha Group (center), and Son Jae-il, CEO of Hanwha Aerospace (fourth from left), who attended the 'New Vision Town Hall' event held on the 3rd at the Hanwha Building in Jung-gu, Seoul, are taking a commemorative photo with employees. Photo by Hanwha Aerospace
Kim Dong-kwan, Vice Chairman of Hanwha Group (Head of Strategy Division at Hanwha Aerospace), presented a vision to become a ‘top-tier innovation company pioneering the future with new technologies and creating sustainable value for tomorrow’ at the event attended by over 130 executives and employees, including Son Jae-il, Head of the Business Division.
Vice Chairman Kim emphasized at the event, “As a national representative company, we have the responsibility to protect not only South Korea but also the free world, and the duty to provide a sustainable future for the next generation.”
Hanwha Aerospace further solidified its ‘business patriotism DNA’ by merging Hanwha Defense Industry, which started its explosives business in 1952. Amid rapidly changing international circumstances and security uncertainties, the company aims to strengthen national security and expand exports, becoming a truly representative South Korean company contributing economically.
In his vision presentation, CEO Son Jae-il proposed three business directions: ▲ ‘Total Defense Solution’ expanding the defense business area ▲ ‘Aerospace Global Leader’ expanding from proprietary engines to space business ▲ ‘New Mobility Paradigm Driver’ entering urban air mobility (UAM) based on eco-friendly ESS (energy storage systems) and more.
CEO Son stated, “We will expand cooperation not only with subsidiaries but also with affiliates within the group to achieve KRW 40 trillion in sales and KRW 5 trillion in operating profit by 2030.” Hanwha Aerospace, which achieved record-high performance last year, is currently promoting the expansion of weapon systems incorporating unmanned and automation technologies, expanding space business from launch vehicles to satellite services in cooperation with subsidiaries such as Hanwha Systems and Satrec Initiative, and advancing eco-friendly ship components and eco-friendly energy businesses in the marine sector.
Vice Chairman Kim urged, “We must not be complacent with the present but continuously challenge and innovate. Let us build an irreplaceable Hanwha Group for South Korea’s economy and security together.”
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