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From left to right: Kim Dong-gwan, Vice Chairman of Hanwha Solutions; Kim Dong-won, President of Hanwha Financial Group; and Kim Dong-sun, Executive Vice President of Hanwha Machinery & Services Holdings |
[Alpha Biz= Kim Jisun] Seoul, January 14, 2026 – Hanwha Group, the seventh-largest conglomerate in South Korea, announced today a corporate restructuring to establish a new holding company, marking the first step toward “separate management by the founder’s sons.”
The Board of Directors of Hanwha Corporation (“Hanwha Co.”), the Group’s primary holding company, approved a plan to spin off its machinery, robotics, and lifestyle businesses—including retail and leisure—into a newly established holding company, Hanwha Machinery & Services Holdings. The new holding company will oversee subsidiaries such as Hanwha Vision, Hanwha Semitek, Hanwha Momentum, Hanwha Robotics, Hanwha Galleria, Hanwha Hotels & Resorts, and Ourhome, which were previously managed by Kim Dong-sun, the third son of Chairman Kim Seung-yeon.
Under the current governance structure, Chairman Kim Seung-yeon retains overall control of Hanwha Group, with his three sons leading different business areas under Hanwha Co.:
Kim Dong-gwan, eldest son, oversees defense, aerospace, shipbuilding, marine, energy, and chemical businesses.
Kim Dong-won, second son, is responsible for the financial sector.
Kim Dong-sun, third son, manages machinery and lifestyle businesses.
The Group’s ownership structure follows a hierarchy: Hanwha Energy → Hanwha Co. → Key Subsidiaries. Hanwha Energy holds approximately 23% of Hanwha Co., while Chairman Kim and his three sons collectively own about 33.8%. Additionally, the three sons hold 80% of Hanwha Energy’s shares, giving the founding family effective control over major subsidiaries through Hanwha Energy and Hanwha Co.
Following the spin-off, Hanwha Group will have two holding companies under Hanwha Energy: the original Hanwha Co. and the newly formed Hanwha Machinery & Services Holdings. Hanwha Co. will continue to manage 12 subsidiaries led by Kim Dong-gwan and Kim Dong-won, while Hanwha Machinery & Services Holdings will oversee 7 subsidiaries under Kim Dong-sun. The process is expected to be completed after a special shareholders’ meeting in June, with full implementation in July.
Shareholders of Hanwha Co. will receive stakes in the new company in proportion to their current holdings, approximately 76:24. For example, a shareholder with 1,000 shares of Hanwha Co. will hold 760 shares in Hanwha Co. and 240 shares in Hanwha Machinery & Services Holdings.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
