Merged with Hanwha Vision in January next year to become a business holding company
Hanwha Group's newly established industrial solutions holding company, 'Hanwha Industrial Solutions,' officially launched on the 2nd.
Hanwha Industrial Solutions held its inaugural general meeting at The Plaza Hotel in Jung-gu, Seoul, on the same day, appointing An Sunhong, CEO of Hanwha Vision, as CEO and chairman of the board. CEO An stated, "We will lead the market and provide greater value to customers based on our technological capabilities and global competitiveness."
Hanwha Industrial Solutions was established as a holding company through the spin-off of the security, chip mounter, and semiconductor equipment divisions from Hanwha Aerospace. It will have Hanwha Vision (CCTV, etc.) and Hanwha Precision Machinery (semiconductor manufacturing equipment) as 100% subsidiaries.
Hanwha Vision has been operating its video security business since 1990 and is strengthening its market position with smart solutions utilizing artificial intelligence (AI) and cloud technologies. It has five overseas subsidiaries and 15 offices in the United States, Europe, Vietnam, and other locations.
Hanwha Precision Machinery started Korea's first SMT chip mounter business in 1989 and provides semiconductor front- and back-end process equipment as well as machine tool manufacturing equipment. It is currently developing new process equipment for high-bandwidth memory (HBM).
Hanwha Industrial Solutions will be relisted on the 27th and will merge with Hanwha Vision on January 1 next year to become a business holding company.
Earlier, Hanwha Aerospace announced its plan to spin off Hanwha Vision and Hanwha Precision Machinery in May and finalized the establishment of Hanwha Industrial Solutions through a shareholder meeting resolution last month.
Hanwha Aerospace, led by Kim Dong-kwan, the eldest son of Hanwha Group Chairman Kim Seung-yeon, plans to use this spin-off as an opportunity to separate businesses less related to its core aerospace and defense operations and focus on strengthening expertise and capabilities.
On the 2nd, at The Plaza Hotel in Jung-gu, Seoul, CEO An Sunhong of Hanwha Industrial Solutions is taking a commemorative photo with key company executives at the founding general meeting. [Photo by Hanwha Industrial Solutions]
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