, former_name = Korea Explosives Group , type =

Public In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociological concept of the ''Öffentlichkei ...

, traded_as = , industry = Conglomorate , founded = , founder = Kim Chong-hee , hq_location_city =

Seoul Seoul (; ; ), officially known as the Seoul Special City, is the capital and largest metropolis of South Korea.Before 1972, Seoul was the ''de jure'' capital of the Democratic People's Republic of Korea (North Korea) as stated iArticle 103 ...

, hq_location_country =

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...

, area_served = Global , key_people =

Kim Seung-yeon Kim Seung-youn (; born February 7, 1952) is a South Korean businessman. He is currently the CEO of Hanwha , former_name = Korea Explosives Group , type = Public , traded_as = , industry = Conglomorate , founded = , founder = Kim Chong- ...

(

Chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

and

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

) , revenue=

₩ The won sign , is a currency symbol. It represents the South Korean won, the North Korean won and, unofficially, the old Korean won. Appearance Its appearance is "W" (the first letter of "Won") with a horizontal strike going through the cent ...

72,890,000,000,000 (2020) , operating_income = ₩2,927,888,000,000(Hanwha Corp. only) , net_income = ₩19,327,000,000(Hanwha Corp. only) , num_employees = 43,690 , num_employees_year = 2020 , subsid = , owners = Estate of

(32.02%)

Hanwha , former_name = Korea Explosives Group , type = Public , traded_as = , industry = Conglomorate , founded = , founder = Kim Chong-hee , hq_location_city = Seoul , hq_location_country = South Korea , area_served = Global , key_people = ...

through treasury stock (8.08%)

National Pension Service The National Pension Service of Korea (NPS; ) is a public pension fund in South Korea. It is the third largest in the world with $800 billion in assets, and is the largest investor in South Korea. South Korea's National Pension Service (NPS), wh ...

(8.67%) , homepage = https://www.hanwha.co.kr/ (Korean)
https://www.hanwha.com (English) , footnotes = , intl = Hanwha Group () is a large business conglomerate (''

chaebol A chaebol (, ; ) is a large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or group whose power over the group often exc ...

'') in

. Founded in 1952 as Korea Explosives Co. (), the group has grown into a large multi-profile business conglomerate, with diversified holdings stretching from explosives, their original business, to retail and financial services. In 1992 the company adopted its abbreviation as its new name: "Hanwha".

History

1952–1999

Kim Jong-hee Kim Jong-Hee (born 28 March 1986) is a South Korean field hockey player. At the 2012 Summer Olympics she competed with the Korea women's national field hockey team in the Field hockey at the 2012 Summer Olympics – Women's tournament, women's to ...

() founded Korea Explosives Co. in October 1952. Prior to founding the company, Kim worked as a gunpowder engineer for the 'Chosun Explosives Factory', a

Japanese Japanese may refer to: * Something from or related to Japan, an island country in East Asia * Japanese language, spoken mainly in Japan * Japanese people, the ethnic group that identifies with Japan through ancestry or culture ** Japanese diaspor ...

company. Later, he won the bid for the company and its

Incheon Incheon (; ; or Inch'ŏn; literally "kind river"), formerly Jemulpo or Chemulp'o (제물포) until the period after 1910, officially the Incheon Metropolitan City (인천광역시, 仁川廣域市), is a city located in northwestern South Kore ...

factory and started the company there. From 1952–1963, the Korea Explosives Co. produced

gunpowder Gunpowder, also commonly known as black powder to distinguish it from modern smokeless powder, is the earliest known chemical explosive. It consists of a mixture of sulfur, carbon (in the form of charcoal) and potassium nitrate (saltpeter). ...

domestically, which was needed for construction and engineering of infrastructure. In the same time period, the Korea Explosives Co. started producing

nitroglycerin Nitroglycerin (NG), (alternative spelling of nitroglycerine) also known as trinitroglycerin (TNG), nitro, glyceryl trinitrate (GTN), or 1,2,3-trinitroxypropane, is a dense, colorless, oily, explosive liquid most commonly produced by nitrating g ...

, which gave it a monopoly in the field of explosives and gunpowder. In 1959, the Hanwha group started producing domestic dynamite. From 1964–1980 the Hanwha group started to make investments in various fields, starting the foundation of it becoming a chaebol. Later in the mid 1960s, Hwaseong Korea was founded (now

Hanwha Solutions Hanwha Solutions Corporation ( ko, 한화솔루션) is a multinational energy services, petrochemical, and real estate development company headquartered in Seoul, South Korea. The company is part of the Hanwha Group, a large South Korean business ...

), and entered the petrochemical market. Hanwha increased its competitiveness in the machinery market by acquiring Shinhan Bearing Co. Hanwha founded Gyeongin Energy in 1969, and the Korea Precision Industry (renamed to

Hanwha Machinery Co., Ltd. , former_name = Korea Explosives Group , type = Public , traded_as = , industry = Conglomorate , founded = , founder = Kim Chong-hee , hq_location_city = Seoul , hq_location_country = South Korea , area_served = Global , key_people = ...

) followed suit, being founded in 1971. From 1981 to 1995,

became the second president of the company, and more investments in diverse markets were initiated. It expanded further into the chemical industry by acquiring both Hanyang Chemical (now also Hanwha Solutions) and Korea Dow Chemical in 1982, expanded into the resorts industry by acquiring the Jung-A group (now

Hanwha Hotels & Resorts , former_name = Korea Explosives Group , type = Public , traded_as = , industry = Conglomorate , founded = , founder = Kim Chong-hee , hq_location_city = Seoul , hq_location_country = South Korea , area_served = Global , key_people = K ...

) in 1985, and expanded into the leisure and distribution industry by acquiring Hanyang Distribution (now

Hanwha Galleria , former_name = Korea Explosives Group , type = Public , traded_as = , industry = Conglomorate , founded = , founder = Kim Chong-hee , hq_location_city = Seoul , hq_location_country = South Korea , area_served = Global , key_people = ...

) in 1986. In the 1990s, the Hanwha Group founded Hanwha BASF Urethane, Hanwha NSK Precision, Hanwha GKN, Hanwha Machinery Hub Eye Bearings, SKF Hanwha Auto Parts, and Hanwha Motors. In 1992, the Korea Explosives Co. changed its name to Hanwha, and

Binggrae Binggrae Co., Ltd. (), is a South Korean food and beverage corporation that manufactures ice cream, milk products, and snacks. Binggrae was founded in 1967 by Hong Soon-ji as Daeil Corporation (). The B in the Binggrae Logo is modeled after a hear ...

was separated and made independent from the company.

2000–Present

In 2002, Hanwha expanded into the life insurance industry by acquiring Korea Life Insurance. From 2007-present, Hanwha is undergoing global expansion. Hanwha acquired Azdel, an

American American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the "United States" or "America" ** Americans, citizens and nationals of the United States of America ** American ancestry, pe ...

company in 2007 and created a PvC plant in

Ningbo Ningbo (; Ningbonese: ''gnin² poq⁷'' , Standard Mandarin pronunciation: ), formerly romanized as Ningpo, is a major sub-provincial city in northeast Zhejiang province, People's Republic of China. It comprises 6 urban districts, 2 sate ...

Zhejiang Zhejiang ( or , ; , also romanized as Chekiang) is an eastern, coastal province of the People's Republic of China. Its capital and largest city is Hangzhou, and other notable cities include Ningbo and Wenzhou. Zhejiang is bordered by Jiang ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

in 2011.

Hanwha Q CELLS Hanwha Q Cells (commonly known as simply Q CELLS) is a major manufacturer of photovoltaic (PV) solar cells. The company is headquartered in Seoul, South Korea, after being founded in 1999 in Thalheim, Germany, where the company still has its eng ...

was launched in 2012, and is now the 5th largest producer of

solar cells A solar cell, or photovoltaic cell, is an electronic device that converts the energy of light directly into electricity by the photovoltaic effect, which is a physics, physical and Chemical substance, chemical phenomenon. Since 2019, Hanwha is operating the largest solar module plant (1.7 GW) in the United States; It is located in

Dalton Dalton may refer to: Science * Dalton (crater), a lunar crater * Dalton (program), chemistry software * Dalton (unit) (Da), the atomic mass unit * John Dalton, chemist, physicist and meteorologist Entertainment * Dalton (Buffyverse), minor cha ...

Georgia Georgia most commonly refers to: * Georgia (country), a country in the Caucasus region of Eurasia * Georgia (U.S. state), a state in the Southeast United States Georgia may also refer to: Places Historical states and entities * Related to the ...

. As of 2019, Hanwha has a total of 466 affiliates, 84 being domestic and 382 overseas.

Controversy

In 2011, Kim Seung-yeon, the current chairman of the Hanwha Group, was fined 5.1 billion KRW and was jailed for 4 years on charges of embezzlement and breach of trust.

Key networks

* R&D:

Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...

Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...

USA The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...

, and

* Manufacturing: Germany,

Czech Republic The Czech Republic, or simply Czechia, is a landlocked country in Central Europe. Historically known as Bohemia, it is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the southeast. The ...

, Malaysia, China, South Korea and USA * Marketing & Sales:

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

Japan Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north ...

, USA, China, and South Korea

Business areas

Solar & Energy

Hanwha QCELLS is the 5th largest producer of solar cells in the world. In a meeting held on May 21st, 2022, Kim Dong-gwan, the president of Hanwha Solutions, laid down a plan to spend 36.7 trillion KRW on its energy and aerospace sectors, and said he wanted to commit the company to solar energy to reduce its carbon footprint and supply high quality energy. Additionally, he announced plans to build another modular factory in the United States. In order to tackle the problem of stagnating bee populations, Hanwha has created a solar beehive, that helps to protect and maintain a stable bee population. Hanwha QCELLS has launched a new brand that ventures into the electric vehicle charging market called Hanwha Motiev in 2022.

Aerospace & Mechatronics

Hanwha is also extensively investing in the space market. Hanwha jointly established "Space Research Center" with

KAIST The Korea Advanced Institute of Science and Technology (KAIST) is a national research university located in Daedeok Innopolis, Daejeon, South Korea. KAIST was established by the Korean government in 1971 as the nation's first public, research ...

, is developing urban air mobility with American company Over Air, testing an electric propulsion system that would be used in air taxis, and took a 8.8% stake in British company OneWeb, a satellite communication service provider as of 2022. * Chemicals & Materials * Construction * Financial Services * Leisure & Lifestyle * E-sports

Affiliates

Hanwha Corporation

Hanwha Aerospace , type = Public , traded_as = , industry = Aerospace , genre = , fate = , predecessor = , successor = , founded = (as Samsung Precision) ...

Hanwha Techwin Hanwha Systems Hanwha Defense Hanwha Power Systems Hanwha Precision Machinery

Hanwha Impact Hanwha TotalEnergies Petrochemical Yeochun NCC Hanwha Engineering & Construction

Hanwha Q Cells Hanwha Q Cells (commonly known as simply Q CELLS) is a major manufacturer of photovoltaic (PV) solar cells. The company is headquartered in Seoul, South Korea, after being founded in 1999 in Thalheim, Germany, where the company still has its eng ...

Hanwha Energy Hanwha City Development

Hanwha Life , former_name = Korea Explosives Group , type = Public , traded_as = , industry = Conglomorate , founded = , founder = Kim Chong-hee , hq_location_city = Seoul , hq_location_country = South Korea , area_served = Global , key_people = ...

Hanwha Asset Management Hanwha General Insurance Hanwha Savings Bank Hanwha Hotels & Resorts Hanwha Galleria Hanwha Galleria Timeworld Hanwha 63 City Hanwha Station Development Hanwha Eagles Hanwha Hotels & Resorts

Awards

* Old Tower Industrial Medal, November 1982 * $100 Million Export Tower Award, November 1982 * Silver Tower Industrial Medal and the $1 Billion Export Tower Award, November 1998 * Gold Tower Industrial Medal (45th Annual Trade Day Ceremony), December 2008 * $2 Billion Export Tower Award (45th Annual Trade Day Ceremony), December 2008

Sports teams

Hanwha Eagles The Hanwha Eagles ( ko, 한화 이글스) are a South Korean professional baseball team based in Daejeon. They are a member of the KBO League. The Eagles' home ballpark is Daejeon Hanbat Baseball Stadium. The Eagles have won the Korean Series on ...

Hanwha Life Esports Hanwha Life Esports (HLE) is a South Korean esports organization based in Seoul, owned by Hanwha Life Insurance. It has teams competing in ''League of Legends'' and '' Kart Rider'', with the former competing in the LCK, South Korea's top level p ...

Notes

References

External links

* * {{Authority control Chaebol Conglomerate companies established in 1952 Construction and civil engineering companies of South Korea Electrical engineering companies Engineering companies of South Korea Defence companies of South Korea Explosives manufacturers Holding companies of South Korea Multinational companies headquartered in South Korea Energy companies of South Korea Companies based in Seoul Companies listed on the Korea Exchange South Korean brands Construction and civil engineering companies established in 1952 1952 establishments in South Korea South Korean companies established in 1952 Manufacturing companies established in 1952