about-hanwha index
  • Milestones

  • At Hanwha, we have grown into a global company that represents South Korea by contributing to the development of the national economy and the improvement of people’s lives.

    As always, we will innovate without boundaries, create opportunities by challenging without limits and pioneer the future as we establish a new history.

  • At Hanwha, we have grown into a global company that
    represents South Korea by contributing to the development of
    the national economy and the improvement of people’s lives.

    As always, we will innovate without boundaries, create
    opportunities by challenging without limits and pioneer the
    future as we establish a new history.

마우스 스크롤
  • Hanwha Overview
  • Milestones
  • 1952 - 1963
    Foundation of a Business
  • 1964 - 1980
    Business Expansions
  • 1981 - 1995
    The Second Foundation
  • 1996 - 2006
    Building Momentum
  • 2007 - 2014
    Accelerating Global Business
  • 2015 - Present
    Innovating for Sustainable Growth

1952 - 1963
Foundation
of a Business

milestones01 Begins chemical
workshop practice Korea Explosives Company
localizes South Korea’s first
dynamite production and
provides products Korea Explosives Company localizes South Korea’s first
dynamite production and provides products

After the Korean War, Hanwha played a critical role in reconstructing the devastated nation. In 1952, Korea Explosives Co. (currently, Hanwha Corporation) produced industrial explosives desperately needed for the reconstruction of our country’s infrastructure. The company succeeded in producing nitroglycerin in 1959 and became only the second country in Asia to produce industrial explosives. Since then, much has changed and Hanwha today has expanded its business enterprise globally. One thing, however, remains the same: our mission that a business should contribute to its society, which we still adhere to.

  • 1952

  • Korea Explosives Company (currently Hanwha Corporation) is founded

  • 1953

  • Restores the Incheon Gunpowder Plant

    Earns management rights for Joseon Gunpowder Joint Market Company

  • 1955

  • Acquires Incheon Gunpowder Plant from Chosun Oil and Fat Company

  • 1956

  • Starts to produce ammonium nitrate explosive

    Begins practice of acid–catalyzed nitration of glycerol process

  • 1957

  • Localizes South Korea's first dynamite

    Succeeds in trial nitroglycerin production

  • 1958

  • Begins to produce dynamite

  • 1959

  • Korea Explosives Company localizes gunpowder and starts to supply products

  • 1961

  • Signs an annual 400–ton dynamite supply contract with the US Army

  • 1962

  • Begins supplying industrial gunpowder to national infrastructure construction sites

1964 - 1980
Business
Expansions

milestones02 Holds a groundbreaking
ceremony for Incheon–si coastal
thermal power plant Holds a groundbreaking ceremony for Incheon–si
coastal thermal power plant Builds Gyeongin Energy
refinery and power plant Builds Gyeongin Energy refinery and power plant

As the nation’s economy grew, so did Hanwha. Our success came from aggressive and strategic investments in key industries that could accelerate the modernization of our nation. In the mid–1960s, we established the Korea Hwasung Industrial Co. (currently, Hanwha Solutions) and entered the petrochemicals business. After launching Kyung–In Energy in 1969, we established Hankook Precision in 1971 (currently, Hanwha Corporation). We sharpened our competitiveness in the machinery business by acquiring Shinhan Bearing Industrial. And in 1972, we continued to advance South Korea's industrialization by constructing Kyung–In Energy's refinery and power plant.

  • 1964

  • Acquires Shinhan Bearing Industry

  • 1965

  • Establishes Korea Hwasung Industrial Co. (currently, Hanwha Solutions)

  • 1966

  • Establishes Taepyeong Trading (currently, Hanwha Corporation/Global)

  • 1968

  • Supplies gunpowder to the Gyeongbu Expressway construction site

    Signs a joint venture agreement with US company, Union Oil Company

    Chong–Hee Kim inaugurated as Chairman of the Korea Explosives Group

    Acquires Cheil Fire & Marine Insurance

  • 1969

  • Holds a groundbreaking ceremony for Incheon–si coastal thermal power plant

    Establishes Kyung–In Energy

  • 1971

  • Establishes Hankook Precision Tools

    Establishes Third Petroleum Sale

  • 1972

  • Builds Kyung-In Energy refinery and power plant

    Establishes Korea Plastic Industry

    Chairman Chong–Hee Kim awarded the Venus Cross Medal of Honor, the Greek government’s highest honorary medal, for advancing relations between Korea and Greece

  • 1973

  • Acquires Daeil Dairies (currently, Binggrae)

    Acquires Dongwon Industry

    Establishes Taipyeong Development (currently, Hanwha Hotels & Resorts)

  • 1974

  • Establishes Gimpo Ceramics

    Establishes Union Polymer (currently, Hanwha Compound)

  • 1975

  • Establishes Cheonan Bugil Academy (currently, Bugil Foundation)

    Establishes Sungwoon Corporation

  • 1976

  • Opens Cheonan Bugil High School

    Acquires Sungdo Securities (currently, Hanwha Investment & Securities)

    Launches THE PLAZA, Seoul

    Establishes Korea System

  • 1978

  • Establishes Taepyeongyang Engineering

    Builds Yeosu explosives manufacturing plant

  • 1979

  • Builds Hanwha Group headquarters (Seosomun–dong 34)

    Establishes Samhee Transportation

    Acquires Korean Plastics Industrial Corporation

  • 1980

  • Reacquires management rights of Korean Plastics Industrial Corporation

1981 - 1995
The Second
Foundation

milestones03 Seung Youn Kim becomes
the 2nd Chairman of Hanwha Seung Youn Kim becomes the 2nd Chairman of Hanwha Acquires Hanyang Chemical and
Dow Chemical Korea Acquires Hanyang Chemical and Dow Chemical Korea

When Seung Youn Kim became Hanwha’s second chairman, the company’s Second Foundation had effectively begun. And in the aftermath of the global oil shock in the 70s, one of Mr. Kim’s key decisions was to diversify into the petrochemical business by acquiring Hanyang Chemicals and Dow Chemicals Korea. He quickly turned the failing businesses into a global powerhouse (currently, Hanwha Solutions) in the global chemical market. Under Mr. Kim’s leadership, we’ve also diversified into finance and services & leisure. In 1985, we acquired the Junga Group (currently, Hanwha Hotels & Resorts) to become South Korea's leading leisure company.

  • 1981

  • Seung Youn Kim becomes the 2nd Chairman of Hanwha

    Begins construction of Daeil Dairies Gimhae Plant

  • 1982

  • Acquires Hanyang Chemical and Dow Chemical Korea

    Holds a sports event for the 30th anniversary of Hanwha Group's foundation

  • 1983

  • Opens Hanwha Comprehensive Training Center

    Ranks 236th on Fortune Global 500

    Domesticates Gyeongin Energy

    Establishes Samhee Communications (currently, Hancomm)

  • 1984

  • Chairman Seung Youn Kim becomes the 2nd Honorary Consul–General of Greece

    Ranks 195th on the Fortune Global 500

  • 1985

  • Acquires Junga Group (currently, Hanwha Hotels & Resorts)

  • 1986

  • Acquires Hanyang Stores (currently, Hanwha Solutions Galleria Division)

    Establishes Binggrae Eagles (currently, Hanwha Eagles)

  • 1987

  • Builds Hyunam Building (Janggyo–dong)

  • 1988

  • Merges Hanyang Chemical with Korea Plastic Industry

    Chairman Seung Youn Kim announces the Seoul Olympics boxing tournament

    Korea Explosives delivers 500 Olympic torches

  • 1989

  • Launches PRO 2000 campaign

  • 1990

  • Hosts the 1st Seoul Women's Open Golf Championship

  • 1991

  • Launches ECO–2000 campaign

    Builds Korea Explosives Boeun Plant

  • 1992

  • Renames Korea Explosives Group as Hanwha Group

  • 1994

  • Chairman Seung Youn Kim announces the 3rd Reformation

    Builds Hanwha R&D Center

  • 1995

  • Chairman Seung Youn Kim awarded Gold Tower Medal, Order of Industrial Service Merit

    Cheil Securities builds Yeouido headquarters

    Acquires Central Pharmaceuticals and establishes medical business unit DreamPharma

1996 - 2006
Building
Momentum

milestones04 Hanwha 63 Building

During the 1997 Asian financial crisis that either crippled or nearly paralyzed most companies in South Korea, Hanwha took bold actions, innovating and restructuring. We secured liquidity by selling profitable affiliates, made employee job security our priority and moved forward with faith in our spirit of trust and loyalty. We sought new opportunities and began acquisitions. One of them was Korea Life Insurance in 2002, a business that we have since grown steadily to make the second largest life insurance carrier in South Korea with assets of USD 100 billion in 2022. We emerged from the financial crisis without a single labor dispute, and Hanwha was heralded as a role model for other South Korean corporations to follow.

  • 1996

  • Chairman Seung Youn Kim declares revolutionary reformation

    Acquires Banque Indosuez Hungary

  • 1997

  • Establishes Cheonan Bugil Girls Academy (currently, Bugil Girls Academy)

    Sells Hanwha–BASF Urethane to BASF, Germany

  • 1998

  • Establishes FAG Hanwha Bearings

    Hanwha Corporation/Trade honored with the Silver Tower Industrial Medal and the $1 Billion Export Tower Award

  • 1999

  • Establishes YEOCHUN NCC, a joint venture between Hanwha and Daelim

    Hanwha Eagles wins the 1999 Korean Series, the championship series of the KBO League

    Sells Hanwha Energy Oil Refinery Division and Hanwha Energy Plaza to Hyundai Oil Refinery

  • 2000

  • Acquires Dongyang Department Store (currently, Hanwha Galleria Timeworld)

    Sponsors the first Seoul Arts Center Symphony Festival

    Hosts the 1st Seoul International Fireworks Festival

  • 2001

  • Establishes Daedeok Techno Valley

    Hanwha Corporation acquires Daewoo Electronics Defense Division

  • 2002

  • Acquires Korea Life Insurance (currently, Hanwha Life)

  • 2003

  • Sells shares of FAG Hanwha Bearings to the partner company

  • 2004

  • Hanwha L&C (currently, Hanwha Advanced Materials) builds an automotive materials plant in Beijing, China

  • 2005

  • Sells shares of Korea Energy Investment to POSCO

    Hanwha Life establishes a subsidiary in New York City, US

  • 2006

  • Hanwha Engineering & Construction (currently, Hanwha Corporation/Engineering & Construction) establishes a subsidiary in Saudi Arabia

    Hanwha L&C builds a manufacturing facility in Alabama, US

    Establishes Asan Techno Valley

    Terminates production at Incheon Plant

    Hanwha L&C builds an automotive materials plant in Shanghai, China

2007 - 2014
Accelerating
Global Business

milestones05 Hanwha Life establishes local
subsidiary in Vietnam Hanwha Life establishes
local subsidiary in Vietnam Acquires German–based
Q.CELLS(currently,
Hanwha Solutions) Acquires German–based
Q.CELLS(currently, Hanwha Solutions)

At the turn of the 21st century, Hanwha began accelerating its global expansion. Hanwha Solutions acquired US–based Azdel Inc. and established a production subsidiary in the Czech Republic in 2007 to increase its standing as a global automotive component maker. In 2011, Hanwha Solutions completed the construction of a PVC plant in Ningbo, China. In 2012, Hanwha Engineering & Construction (currently, Hanwha Corporation) won a USD 10 billion contract to construct an entire city in Iraq. It was the largest overseas contract ever awarded to a Korean company.

Solarfun Power Holdings and Q.CELLS were acquired in 2010 and 2012, respectively, paving the way for Hanwha Solutions to join the ranks of the world’s top solar cell producers. Hanwha Life’s investment in global expansion began with its Vietnam subsidiary in 2008, which led to another acquisition—an Indonesian life insurance company in 2013.

  • 2007

  • Announces “Tricircle,” new CI (corporate identity),

    Holds Hanwha Global Strategy Conference

    Establishes Seosan Techno Valley

    Hanwha Chemical (currently, Hanwha Solutions Chemical Division) builds the Ningbo PVC plant in China

    Hanwha Advanced Materials acquires US–based Azdel

  • 2008

  • Hanwha Securities establishes Hanwha Investment & Consulting in Shanghai, China

    Acquires Cheil Fire & Marine Insurance (currently, Hanwha General Insurance)

    Hosts the 1st Hanwha National Shooting Competition

    Hanwha Life establishes local subsidiary in Vietnam

    Opens Hanwha HRD Center

  • 2009

  • Opens Hanwha Historical Museum

    Hanwha Life’s Vietnam branch begins local sales

    Hanwha L&C builds a plant in Canada

    Establishes Gimhae Techno Valley

    Hanwha L&C builds an automotive materials plant in the Czech Republic

    Establishes Daedeok Techno Valley

    Launches the integrated Hanwha General Insurance

  • 2010

  • Establishes Gyeonggi Hwaseong Bio Valley

    Launches the integrated Hanwha Hotels & Resorts

    Daehan Life Insurance lists on stock market

    Hanwha Securities acquires Prudential Investment Securities and Prudential Asset Management

    Acquires a 49.99% equity stake in Solarfun Power Holdings of China

    Opens Galleria Centercity, Cheonan

  • 2011

  • Enters solar business (changes Solarfun Power Holdings to Hanwha SolarOne)

    Proclaims Hanwha Core Values of Challenge, Dedication and Integrity

    Establishes Hanwha Golf Team (currently, Team Hanwha Qcells)

    Hanwha Chemical’s Ningbo PVC plant in China launches commercial operations

    Establishes Hanwha Solar Energy America (HSEA)

    Establishes Hanwha Solar Energy

    Launches Hanwha China

    Gunjang Cogeneration starts commercial power generation

    Hosts the KLPGA Hanwha Finance Classic

    Launches Hanwha Asset Management by merging Hanwha Investment Trust Management and Prudential Asset Management

  • 2012

  • Hanwha Engineering & Construction (currently, Hanwha Corporation/Engineering & Construction) wins the bid for Bismayah New City Project (USD 8 billion)

    Launches the integrated Hanwha Investment & Securities by merging Hanwha Securities and Hanwha Investment & Securities

    Renames Daehan Life Insurance Hanwha Life

    Acquires German–based Q.CELLS (currently, Hanwha Solutions Qcells Division)

    Launches the integrated Hanwha Energy by merging Yeosu Cogeneration and Gunjang Cogeneration

    Begins operation of Sino–Korea Life Insurance, a joint venture of Hanwha Life and Zhejiang International Business Group

  • 2013

  • Hanwha Solar Energy changes name to Hanwha Qcells Korea

    Beans & Berries transitions to a social enterprise

    Hanwha Life acquires an Indonesia life insurer

  • 2014

  • Acquires four Samsung companies in defense and petrochemical industries

2015 - Present
Innovating for
Sustainable Growth

milestones06 Second launch of Nuri,
the Korean Space Launch
Vehicle–II(Korea Aerospace
Research Institute) Second launch of Nuri,
the Korean Space Launch
Vehicle–II(Korea Aerospace Research Institute) Scenario for
self-generated electricity

Hanwha is committed to building a sustainable foundation for growth as we strengthen core capabilities in current businesses, including aerospace, energy & materials, finance, and retail & services. We are also exploring new business portfolios. In 2021, we launched the Space Hub to spearhead space business initiative in the era of privately led space development. In 2022, we were appointed system integrator for the Korea Space Launch Vehicle Program. Our solar business ranks first in market share for major markets including the US, and we are currently expanding our energy businesses into hydrogen, wind power and LNG.

In finance, we are driving innovation in financial services by providing digital solutions that harness advanced Fintech and AI. Our retail & services businesses are expanding online and offline platforms that boost competitiveness in each of their business sectors. We are dedicated to developing solutions for a sustainable future for humanity by making bold investments in trailblazing innovations that can combat energy and food crises.

  • 2015

  • Hanwha Qcells agrees to supply more than 1.5 GW of solar modules to NextEra Energy Resources, the largest single contract in the solar industry at the time

    Launches Hanwha General Chemicals (currently, Hanwha Impact) and Hanwha Total Petrochemical (currently, Hanwha TotalEnergies Petrochemical)

    Launches Hanwha Techwin (currently, Hanwha Vision) and Hanwha Thales (currently, Hanwha Systems)

  • 2016

  • Hanwha Life reaches a new milestone with KRW 100 trillion in total assets

    Launches Hanwha Defense

  • 2017

  • Launches Hanwha Land Systems, Hanwha Power System, and Hanwha Precision Machinery

    Launches Hanwha Group’s LIFEPLUS financial brand

    Hanwha Defense exports its K9 self–propelled howitzers to Finland, India and Norway

  • 2018

  • Launches Hanwha Systems

    Hanwha Aerospace’s subsidiary in Vietnam builds a manufacturing facility

    Officially sponsors of PyeongChang 2018 Winter Olympic Games and 2018 Winter Paralympics (fireworks and torches)

  • 2019

  • Completes renovation of the Hanwha Building in Janggyo–dong

    Hanwha Qcells builds a manufacturing plant in Georgia, in the US

    Hanwha Life opens Life Park training center

  • 2020

  • Launches Hanwha Solutions

    Completes Galleria in Gwanggyo

    Launches the integrated Hanwha Corporation/Global

    Hanwha Systems acquires UK–based Phasor Solutions, a satellite communications antenna developer

    Hanwha Solutions acquires US–based Cimarron Composites, a hydrogen storage tank company

  • 2021

  • Hanwha Energy forms a renewable energy joint venture with French energy group Total

    Hanwha Aerospace acquires control of Satrec Initiative, a South Korean satellite manufacturer

    Hanwha Impact acquires two hydrogen combustion technology companies, PSM (Power Systems Mfg.) in the US and Thomassen Energy in the Netherlands

    Hanwha Solutions acquires RES France, a French renewable energy developer

    Launches Hanwha ESG Committee

    Launches Space Hub

    Hanwha Galleria merges with Hanwha Solutions

    Hanwha Solutions City Development Division spins off its asset development business and merges with Hanwha Solutions

  • 2022

  • Helps to successfully launch Nuri successfully

    Hanwha Corporation and Hanwha Solutions acquires stakes in REC Silicon, a Norway–based polysilicon manufacturer in the US

    Hanwha Impact acquires Hanwha Power Systems

    Hanwha Corporation merges with Hanwha Engineering & Construction (currently, Hanwha Corporation/Engineering & Construction

    Hanwha Aerospace merges with Hanwha Defense

    Hanwha Solutions splits off Advanced Materials Division to establish Hanwha Advanced Materials

    Is appointed system integrator for the Korea Space Launch Vehicle Program

  • 2023

  • Hanwha Aerospace acquire Hanwha Corporation/Defense

    Hanwha Solutions spins off Galleria Division to establish Hanwha Galleria

    Hanwha Techwin changes its name to Hanwha Vision

    Launches Hanwha Ocean