SEOUL, Feb. 18 (Korea Bizwire) — South Korea’s Hanwha Group has held discussions with Edge Group, a defense conglomerate based in the United Arab Emirates (UAE), to explore strategic cooperation in defense, aerospace and maritime industries, according to the group’s defense arm Tuesday. Kim Dong-kwan, vice chairman of Hanwha Group, met with Faisal Al Bannai, [...]
SEOUL, Jun. 21 (Korea Bizwire) — Hanwha Group said Friday it has invested US$100 million in Philly Shipyard Inc. to acquire a 100 percent stake in the U.S. shipbuilder, marking the first entry of a South Korean company into the U.S. shipbuilding industry. The acquisition involves the group’s two defense units, Hanwha Systems Co. and [...]
SEOUL, May 31 (Korea Bizwire) — Hanwha Group, a South Korean defense-to-insurance conglomerate, has been ranked among U.S. magazine Time’s 100 most influential companies of 2024. Hanwha Group was named in the Titans category for the Time 100 Companies list released Thursday (U.S. time), which also included Amazon, Airbus, TikTok, Microsoft, Pfizer and Nvidia. It [...]
SEOUL, June 16 (Korea Bizwire) — Two affiliates of South Korea’s defense-to-energy Hanwha Group will present their latest space and mobility technologies at next week’s trade show in Paris, including a model of the Korean indigenous Nuri rocket, a Hanwha unit said Friday. Hanwha Systems Co., the defense and ICT unit, said it and Hanwha [...]
SEOUL, March 20 (Korea Bizwire) – South Korea’s Hanwha Group said Monday it has signed a preliminary agreement with the Centre Pompidou, a world-renowned modern art museum in France, to establish an offshoot branch in Seoul. The partnership will give Hanwha the licensing rights to use the French museum’s properties for four years upon the [...]
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 [...]