SEOUL, May 23 (Korea Bizwire) — Major South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) was rebranded as Hanwha Ocean Co. on Tuesday, opening a new era as a unit of Hanwha Group, the seventh-largest conglomerate in the country. The embattled shipyard also appointed Kwon Hyuk-woong, president of Hanwha’s support division, as its [...]
SEOUL, April 27 (Korea Bizwire) — The South Korean antitrust regulator’s conditional approval of the plan to take over Daewoo Shipbuilding & Marine Engineering Co. (DSME) removes the last hurdle for Hanwha Group’s push to become a global leader in the defense and energy sector. But it also leaves Hanwha, the seventh-largest conglomerate in the [...]
SEOUL, April 3 (Korea Bizwire) — Hanwha Group has received approval from the European Union for its plan to acquire Daewoo Shipbuilding & Marine Engineering Co. (DSME), company officials said Monday. The EU’s decision came earlier than expected, as it was widely expected to deliver the result of its review in mid-April. Hanwha has obtained [...]
SEOUL, March 24 (Korea Bizwire) — Hanwha Advanced Materials Inc., a unit under South Korea’s energy-to-defense Hanwha Group, will spend US$147 million to build a facility in the U.S. state of Georgia to supply a key material to Hanwha’s solar panel arm, the Georgia governor’s office has said. The factory will be located in Cartersville, [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s leading electric vehicle (EV) battery maker, LG Energy Solution Ltd. (LGES), and defense-focused Hanwha Group said Monday they have joined hands to establish battery production facilities for the energy storage system (ESS) in the United States and develop batteries for air mobility and other future growth engines. [...]
SEOUL, Jan. 2 (Korea Bizwire) — Hanwha Group will push to develop Daewoo Shipbuilding & Marine Engineering Co. (DSME) into a major global enterprise after acquiring the troubled shipyard, the group chief said Monday. “Hanwha will make efforts to promote DSME as a major global business area that could represent South Korea and take the [...]
SEOUL, Nov. 23 (Korea Bizwire) — Hanwha Corp., the de facto holding company of South Korean defense-to-chemicals conglomerate Hanwha Group, said Wednesday it is joining hands with major non-ferrous metal smelter Korea Zinc Inc. for collaboration in areas including green energy and minerals development. Under the partnership, Hanwha will participate in various green energy projects [...]
SEOUL, Sept. 26 (Korea Bizwire) — Hanwha Group’s push to take over Daewoo Shipbuilding & Marine Engineering Co. (DSME) heralds a major boost for its key defense and green energy sectors amid widening efforts to streamline the business structure while expediting the leadership succession process. Hanwha, South Korea’s seventh-largest conglomerate, said it signed a conditional [...]
SEOUL, Sept. 26 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) signed a preliminary investment deal with Hanwha Group on Monday, in a move that could put the embattled shipyard in the latter’s hands. Under a memorandum of understanding, Hanwha Aerospace and other Hanwha subsidiaries will participate in DSME’s 2 trillion-won (US$1.4 billion) [...]
SEOUL, Sept. 14 (Korea Bizwire) — An urban air mobility (UAM) consortium led by SK Telecom Co. and Hanwha Systems Co. said Wednesday it has partnered with the Jeju Special Self-Governing Province to launch an air taxi pilot program on South Korea’s southern resort island. The K-UAM Dream Team Consortium, comprising the two companies and [...]