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 [...]
SEOUL, June 14 (Korea Bizwire) — Defense industry units of South Korea’s Hanwha Group said Tuesday they are investing a combined US$115 million in a U.S. urban air taxi startup, as it seeks to gain an edge in the prospective urban air mobility (UAM) industry. Hanwha Systems Co. and Hanwha Aerospace Co. will spend $50 [...]
SEOUL, Dec. 21 (Korea Bizwire) — Norway has signed a contract to buy two dozen K9 Thunder self-propelled 155mm howitzers from South Korea, a show of the artillery system’s competitiveness in the European market, its manufacturer announced Thursday. Under the 245.2 billion-won (US$226.3 million) deal, Hanwha Land Systems will deliver 24 K9 howitzers and six [...]
SEOUL, Nov. 1 (Korea Bizwire) — Nearly two-thirds of South Korea’s top 30 conglomerates have been dissolved or dropped out of the standings since the 1997 Asian financial crisis, a market tracker said Wednesday. According to corporate tracker CEO Score, 19 family-controlled conglomerates, called chaebol here, disappeared altogether from the list with the remainder maintaining [...]
SEOUL, Jan. 9 (Korea Bizwire) – Saturday’s arrest of Hanwha Group Chairman Kim Seung-youn’s third son, Kim Dong-seon, has once again brought to attention the somber history of criminal convictions that the chaebol family has suffered over the years. The younger Kim was apprehended by the police on January 5 for assaulting two employees at [...]