Summary
Founded in 1952, Hanwha has competitive strengths in manufacturing and construction, finance, and service and leisure business groups. It ranks seventh in domestic conglomerate size based on total assets and holds the status of being among the Fortune Global 500 companies.
Hanwha operates 93 affiliates in South Korea and 616 corporations and offices overseas. It began as Korea Explosives Co., Ltd., founded by Kim Chong-hee, also known as Hyonam. Recently, Hanwha has been focusing its investments on future-oriented advanced industries such as solar power, aerospace machinery, and secondary batteries.
Timeline
▲ 1952 = Establishment of Korea Explosives Co., Ltd. (now Hanwha Corporation).
▲ 1955 = Acquisition of the Incheon explosives factory from Joseon Oil & Fats.
▲ 1959 = Korea Explosives begins complete domestic production and supply of explosives.
▲ 1964 = Acquisition of Shinhan Bearing Industry.
▲ 1965 = Establishment of Korea Vinyl Co., Ltd. (now Hanwha Solutions).
▲ 1966 = Establishment of Taepyung Textiles Co., Ltd. (now Hanwha Corporation, Trading Division).
▲ 1968 = Acquisition of Jeil Fire & Marine Insurance.
▲ 1969 = Establishment of Kyungin Energy Co., Ltd.
▲ 1972 = Establishment of Korea Plastic Industry Co., Ltd.
▲ 1973 = Establishment of Taepyung Development Co., Ltd. (now Hanwha Hotels & Resorts).
▲ 1974 = Establishment of Union Polymer Co., Ltd. (now Hanwha Compound).
▲ 1975 = Establishment of the educational institution Cheonan Bugil Academy (now Bugil Academy).
▲ 1976 = Acquisition of Sungdo Securities (now Hanwha Investment & Securities).
▲ 1981 = Kim Seung-youn inaugurated as the second chairman.
▲ 1982 = Acquisition of management rights for Hanyang Chemical and Dow Chemical Korea.
▲ 1985 = Acquisition of Junga Group (now Hanwha Hotels & Resorts).
▲ 1986 = Foundation of the Binggrae Eagles (now Hanwha Eagles) and acquisition of Hanyang Distribution (now Hanwha Solutions).
▲ 1988 = Merger of Hanyang Chemical and Korea Plastic Industry.
▲ 1992 = Name changed from Korea Explosives Group to Hanwha Group.
▲ 1997 = Establishment of Cheonan Bugil Girls’ High School (now Bugil Girls’ High School).
▲ 1999 = Sale of Hanwha Energy’s oil refining division and Hanwha Energy Plaza to Hyundai Oilbank; Hanwha Eagles win the ‘99 Korean Series in pro baseball; establishment of Yeochun NCC.
▲ 2000 = Acquisition of Dongyang Department Store (now Hanwha Galleria Timeworld); first Seoul World Fireworks Festival held.
▲ 2001 = Establishment of Daedeok Techno Valley.
▲ 2002 = Acquisition of Korea Life Insurance (now Hanwha Life), Shindonga Fire & Marine Insurance (now Hanwha General Insurance), and 63 City (now Hanwha 63 City).
▲ 2004 = Completion of Hanwha Advanced Materials’ Beijing factory.
▲ 2005 = Establishment of Hanwha Life’s New York branch.
▲ 2006 = Establishment of Hanwha Construction’s Saudi Arabia branch; completion of Hanwha Advanced Materials’ Alabama, USA, factory and Shanghai automotive parts factory.
▲ 2007 = Acquisition of a stake in Azdel, USA, by Hanwha Advanced Materials.
▲ 2008 = Integration of Jeil Fire & Marine Insurance; first Hanwha Chairman’s Cup National Shooting Competition.
▲ 2009 = Start of insurance operations by Hanwha Life’s Vietnam branch; completion of Hanwha Advanced Materials’ Czech factory.
▲ 2010 = Integrated launch of Hanwha Hotels & Resorts.
▲ 2011 = Start of commercial production at Hanwha Chemical’s PVC factory in Ningbo, China; establishment of Hanwha Solar Energy (now Hanwha Q CELLS Korea); launch of Hanwha Asset Management through integration of Hanwha Investment Trust Management and Prudential Asset Management.
▲ 2012 = Hanwha Construction wins the Bismayah New City project in Iraq ($8 billion); acquisition of German solar company Q CELLS (now Hanwha Solutions); merger of Yeosu Combined Heat and Power Generation and Gunjang Combined Heat and Power Generation into Hanwha Energy.
▲ 2015 = Hanwha Q CELLS signs a module supply contract of 1.5GW, the largest in the industry, with U.S. NextEra; launch of Hanwha Total Petrochemical and Hanwha Techwin (now Hanwha Systems).
▲ 2016 = Hanwha Life’s total assets exceed 100 trillion won; launch of Hanwha Defense.
▲ 2017 = Launch of Hanwha Land Systems, Hanwha Power Systems, and Hanwha Precision Machinery; launch of Hanwha Financial’s LIFEPLUS brand; Hanwha Defense exports K9 self-propelled howitzers to Finland, India, and Norway.
▲ 2018 = Launch of Hanwha Systems; completion of Hanwha Aerospace’s Vietnam factory; Hanwha Corporation sponsors the 2018 Pyeongchang Winter Olympics and Paralympics (fireworks and torch relay).
▲ 2019 = Remodeling of Hanwha Building in Janggyo-dong, Seoul; completion of Q CELLS’ Georgia, USA, factory; opening of Hanwha Life’s LIFE PARK.
▲ 2020 = Launch of Hanwha Solutions; opening of Galleria Gwanggyo; global integrated launch of Hanwha Corporation; Hanwha Systems acquires U.K. satellite communication company Phasor Solutions; Hanwha Solutions acquires U.S. hydrogen tank company Cimarron.
▲ 2021 = Hanwha Energy establishes a renewable energy joint venture with France’s Total; Hanwha Aerospace acquires a stake in satellite company Satrec Initiative; Hanwha Impact acquires U.S. company PSM, which holds hydrogen co-firing technology; Hanwha Solutions acquires French renewable energy company RES France; launch of the Group’s ESG Committee; launch of Space Hub; absorption merger of Hanwha Galleria into Hanwha Solutions; Hanwha Urban Development is split and merged into Hanwha Solutions.
▲ 2022 = Successful launch of the Nuri rocket; Hanwha Corporation and Hanwha Solutions acquire a stake in REC Silicon, a U.S. polysilicon production facility; Hanwha Impact acquires Hanwha Power Systems; merger of Hanwha Corporation and Hanwha Construction; merger of Hanwha Aerospace and Hanwha Defense; Hanwha Solutions’ Advanced Materials Division is spun off (launch of Hanwha Advanced Materials); selection as a comprehensive company for the Korean-style launch vehicle system.
▲ 2023 = Hanwha Aerospace acquires Hanwha Corporation/Defense; Hanwha Solutions spins off Hanwha Galleria (launch of Hanwha Galleria); Hanwha Techwin changes its name to Hanwha Vision; launch of Hanwha Ocean.
