SEOUL, Dec. 16 (Korea Bizwire) — Hanwha Group signed an agreement with Daewoo Shipbuilding & Marine Engineering Co. (DSME) on Friday to take over the embattled shipbuilder, officials said, paving the way for a smooth privatization after multiple unsuccessful attempts. Under the deal, Hanwha Aerospace and five other Hanwha affiliates will acquire a 49.3 percent [...]
SEOUL, July 29 (Korea Bizwire) — Hanwha Group, South Korea’s seventh-largest conglomerate by assets, announced Friday it will reshape its key affiliates to bolster its push for green energy, battery and semiconductor components. Hanwha will combine its two defense units and place them under the wing of Hanwha Aerospace Co., its largest defense arm that [...]
SEOUL, May 24 (Korea Bizwire) — South Korean energy-to-defense conglomerate Hanwha Group said Tuesday it will invest 37.6 trillion won (US$29.6 billion) over the next five years in a move to strengthen its future growth engines. As part of the plan, Hanwha set aside 20 trillion won to boost its competitiveness in a range of [...]
SEOUL, May 20 (Korea Bizwire) — South Korean conglomerate Hanwha Group on Thursday unveiled the Solar Beehive, which is run by electricity generated from solar power. The Beehive set up for a test drive at the Korea National University of Agriculture and Fisheries will become home to some 40,000 bees who will play a crucial [...]
SEOUL, July 1 (Korea Bizwire) — Hanwha Group, a South Korean energy-to-defense conglomerate, said Thursday it has sold part of its stake in U.S. electric truck maker Nikola Corp. for US$53.7 million. Green Nikola Holdings, Hanwha’s U.S. subsidiary, sold 2.9 million Nikola shares, which lowered its ownership from 5.6 percent to 4.86 percent, according to [...]
SEOUL, March 18 (Korea Bizwire) — Hanwha Group, a South Korean energy-to-defense conglomerate, plans to sell half of its stake in U.S. electric truck maker Nikola Corp., the two companies said Thursday. Green Nikola Holdings, Hanwha’s U.S. subsidiary that holds a 5.65 percent share in Nikola, plans to sell up to 11.1 million shares over [...]
SEOUL, Dec. 22 (Korea Bizwire) — Hanwha Q CELLS, the solar power business unit of Hanwha Group, said Friday it will build a 1 gigawatt solar power plant in Turkey by 2018 to supply electricity to the country. In March, Hanwha Q CELLS won a deal from the Ministry of Energy and National Resources in [...]
SEOUL, Sept. 14 (Korea Bizwire) – Hanwha Group has started a campaign that reserves donations for those in need whenever a Hanwha employee walks one step. The ‘Hanwha Walking for Earth’ event, in which 300 employees and their families walked the Namsan Dulegil, took place on September 12. Employees from 12 Hanwha affiliates and their [...]
SEOUL, April 27 (Korea Bizwire) — System integrators affiliated with South Korea’s family-run business groups increased internal transactions in 2014 despite the government’s efforts to curb excessive groupwide trades, data showed Monday. Internal transactions of the top 20 system integration subsidiaries of the family-run conglomerates, locally called chaebol, came to 8.36 trillion won (US$7.74 billion) [...]
SEOUL, April 6 (Korea Bizwire) — Hanwha Group, a South Korean chemicals and financial conglomerate, said Monday it has clinched a US$2.12 billion order to build the infrastructure for a new city currently under construction in Iraq. The agreement signed with Iraq’s National Investment Commission calls for Hanwha Engineering & Construction, the building arm of [...]